Investment Management Corp of Ontario Increases Stake in UnitedHealth Group Incorporated (NYSE:UNH)

Investment Management Corp of Ontario raised its holdings in UnitedHealth Group Incorporated (NYSE:UNH) by 48.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,521 shares of the healthcare conglomerate’s stock after purchasing an additional 9,900 shares during the period. Investment Management Corp of Ontario’s holdings in UnitedHealth Group were worth $17,845,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its position in UnitedHealth Group by 78,814.4% during the 3rd quarter. International Assets Investment Management LLC now owns 5,296,737 shares of the healthcare conglomerate’s stock worth $3,096,896,000 after purchasing an additional 5,290,025 shares in the last quarter. Lone Pine Capital LLC bought a new position in UnitedHealth Group during the second quarter valued at about $480,903,000. Dimensional Fund Advisors LP boosted its holdings in UnitedHealth Group by 30.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,816,254 shares of the healthcare conglomerate’s stock valued at $1,942,956,000 after acquiring an additional 880,183 shares during the last quarter. Baillie Gifford & Co. raised its holdings in shares of UnitedHealth Group by 1,125.4% in the second quarter. Baillie Gifford & Co. now owns 894,006 shares of the healthcare conglomerate’s stock valued at $455,281,000 after purchasing an additional 821,050 shares during the last quarter. Finally, Accredited Investors Inc. increased its stake in UnitedHealth Group by 9,235.4% during the 3rd quarter. Accredited Investors Inc. now owns 784,924 shares of the healthcare conglomerate’s stock worth $458,929,000 after acquiring an additional 776,516 shares during the period. Institutional investors and hedge funds own 87.86% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. KeyCorp began coverage on UnitedHealth Group in a research note on Friday, October 11th. They set an “overweight” rating and a $675.00 price target for the company. Bank of America reduced their price objective on shares of UnitedHealth Group from $675.00 to $650.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. TD Cowen increased their price target on shares of UnitedHealth Group from $601.00 to $609.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Stephens decreased their target price on UnitedHealth Group from $632.00 to $605.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Finally, Cantor Fitzgerald raised their target price on UnitedHealth Group from $591.00 to $644.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $621.58.

UnitedHealth Group Stock Down 0.3 %

UNH opened at $608.52 on Tuesday. The firm has a market cap of $560.01 billion, a price-to-earnings ratio of 39.64, a PEG ratio of 1.79 and a beta of 0.58. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.91 and a current ratio of 0.91. The firm’s 50-day simple moving average is $585.43 and its 200-day simple moving average is $556.65. UnitedHealth Group Incorporated has a twelve month low of $436.38 and a twelve month high of $630.73.

UnitedHealth Group (NYSE:UNH) last released its earnings results on Tuesday, October 15th. The healthcare conglomerate reported $7.15 EPS for the quarter, topping the consensus estimate of $7.00 by $0.15. UnitedHealth Group had a return on equity of 26.37% and a net margin of 3.63%. The business had revenue of $100.82 billion during the quarter, compared to analysts’ expectations of $99.14 billion. During the same quarter last year, the firm posted $6.56 earnings per share. The firm’s revenue was up 9.2% on a year-over-year basis. Equities research analysts anticipate that UnitedHealth Group Incorporated will post 27.6 EPS for the current fiscal year.

UnitedHealth Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Monday, December 9th will be issued a dividend of $2.10 per share. The ex-dividend date is Monday, December 9th. This represents a $8.40 annualized dividend and a yield of 1.38%. UnitedHealth Group’s payout ratio is 54.72%.

UnitedHealth Group Company Profile

UnitedHealth Group Incorporated operates as a diversified health care company in the United States. The company operates through four segments: UnitedHealthcare, Optum Health, Optum Insight, and Optum Rx. The UnitedHealthcare segment offers consumer-oriented health benefit plans and services for national employers, public sector employers, mid-sized employers, small businesses, and individuals; health care coverage, and health and well-being services to individuals age 50 and older addressing their needs; Medicaid plans, children's health insurance and health care programs; and health and dental benefits, and hospital and clinical services, as well as health care benefits products and services to state programs caring for the economically disadvantaged, medically underserved, and those without the benefit of employer-funded health care coverage.