Inverness Counsel LLC NY increased its holdings in UnitedHealth Group Incorporated (NYSE:UNH) by 1.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 160,173 shares of the healthcare conglomerate’s stock after buying an additional 1,722 shares during the quarter. UnitedHealth Group accounts for about 2.3% of Inverness Counsel LLC NY’s investment portfolio, making the stock its 13th largest position. Inverness Counsel LLC NY’s holdings in UnitedHealth Group were worth $64,140,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in UNH. Capital International Investors grew its position in shares of UnitedHealth Group by 5.8% during the 1st quarter. Capital International Investors now owns 18,899,258 shares of the healthcare conglomerate’s stock valued at $7,032,097,000 after acquiring an additional 1,040,094 shares during the period. Geode Capital Management LLC increased its holdings in UnitedHealth Group by 1.9% in the 1st quarter. Geode Capital Management LLC now owns 14,431,038 shares of the healthcare conglomerate’s stock worth $5,354,103,000 after acquiring an additional 273,958 shares in the last quarter. Royal Bank of Canada lifted its holdings in UnitedHealth Group by 3.3% during the first quarter. Royal Bank of Canada now owns 9,286,416 shares of the healthcare conglomerate’s stock valued at $3,455,197,000 after purchasing an additional 292,492 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of UnitedHealth Group by 4.1% in the first quarter. Bank of New York Mellon Corp now owns 9,224,802 shares of the healthcare conglomerate’s stock worth $3,432,273,000 after purchasing an additional 366,623 shares in the last quarter. Finally, Sanders Capital LLC raised its holdings in UnitedHealth Group by 5.1% during the second quarter. Sanders Capital LLC now owns 6,491,732 shares of the healthcare conglomerate’s stock valued at $2,854,829,000 after acquiring an additional 314,995 shares during the period. 86.21% of the stock is owned by institutional investors and hedge funds.
UNH has been the subject of several recent analyst reports. Truist upped their price target on UnitedHealth Group from $480.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, July 16th. Morgan Stanley cut their target price on shares of UnitedHealth Group from $515.00 to $488.00 and set an “overweight” rating for the company in a report on Tuesday, August 31st. Barclays boosted their target price on UnitedHealth Group from $435.00 to $465.00 and gave the company an “overweight” rating in a research report on Friday, July 16th. Stephens increased their price target on UnitedHealth Group from $440.00 to $460.00 and gave the stock an “overweight” rating in a report on Friday, July 16th. Finally, Seaport Res Ptn restated a “buy” rating on shares of UnitedHealth Group in a report on Friday, July 9th. Three investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, UnitedHealth Group has a consensus rating of “Buy” and a consensus price target of $444.04.
UNH stock traded up $3.85 during midday trading on Wednesday, reaching $416.39. The stock had a trading volume of 45,124 shares, compared to its average volume of 2,983,495. UnitedHealth Group Incorporated has a 52-week low of $289.64 and a 52-week high of $431.36. The stock has a market cap of $392.62 billion, a PE ratio of 27.25, a P/E/G ratio of 1.62 and a beta of 0.77. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a fifty day simple moving average of $416.16 and a two-hundred day simple moving average of $398.29.
UnitedHealth Group (NYSE:UNH) last posted its quarterly earnings results on Wednesday, July 14th. The healthcare conglomerate reported $4.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.43 by $0.27. The company had revenue of $71.32 billion during the quarter, compared to analyst estimates of $69.51 billion. UnitedHealth Group had a net margin of 5.33% and a return on equity of 22.15%. UnitedHealth Group’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period last year, the firm posted $7.12 EPS. On average, sell-side analysts predict that UnitedHealth Group Incorporated will post 18.74 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 21st. Stockholders of record on Monday, September 13th will be paid a $1.45 dividend. The ex-dividend date of this dividend is Friday, September 10th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 1.39%. UnitedHealth Group’s payout ratio is 34.36%.
UnitedHealth Group Company Profile
UnitedHealth Group, Inc engages in the provision of health care coverage, software, and data consultancy services. It operates through the following segments: UnitedHealthcare, OptumHealth, OptumInsight, and OptumRx. The UnitedHealthcare segment utilizes Optum’s capabilities to help coordinate patient care, improve affordability of medical care, analyze cost trends, manage pharmacy benefits, work with care providers more effectively, and create a simpler consumer experience.
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