Addenda Capital Inc. Sells 1,331 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Addenda Capital Inc. decreased its position in UnitedHealth Group Incorporated (NYSE:UNH) by 5.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,903 shares of the healthcare conglomerate’s stock after selling 1,331 shares during the period. Addenda Capital Inc.’s holdings in UnitedHealth Group were worth $12,320,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of UNH. Richelieu Gestion SA bought a new position in UnitedHealth Group during the 4th quarter valued at about $26,000. CGC Financial Services LLC lifted its stake in shares of UnitedHealth Group by 1,000.0% in the 4th quarter. CGC Financial Services LLC now owns 55 shares of the healthcare conglomerate’s stock worth $29,000 after purchasing an additional 50 shares during the period. True Wealth Design LLC bought a new position in shares of UnitedHealth Group in the 4th quarter worth approximately $31,000. LFA Lugano Financial Advisors SA lifted its stake in shares of UnitedHealth Group by 148.1% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 67 shares of the healthcare conglomerate’s stock worth $35,000 after purchasing an additional 40 shares during the period. Finally, Transcendent Capital Group LLC purchased a new stake in UnitedHealth Group in the 4th quarter worth approximately $40,000. Institutional investors own 87.86% of the company’s stock.

UnitedHealth Group Price Performance

Shares of UNH stock opened at $509.58 on Friday. UnitedHealth Group Incorporated has a fifty-two week low of $436.38 and a fifty-two week high of $554.70. The firm has a market capitalization of $469.01 billion, a price-to-earnings ratio of 31.15, a PEG ratio of 1.41 and a beta of 0.58. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.85 and a current ratio of 0.85. The stock’s 50-day simple moving average is $498.34 and its 200-day simple moving average is $502.27.

UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings results on Tuesday, April 16th. The healthcare conglomerate reported $6.91 earnings per share for the quarter, topping analysts’ consensus estimates of $6.63 by $0.28. UnitedHealth Group had a return on equity of 26.50% and a net margin of 4.05%. The business had revenue of $99.80 billion for the quarter, compared to analyst estimates of $99.23 billion. During the same quarter in the previous year, the firm earned $6.26 earnings per share. The company’s revenue was up 8.6% on a year-over-year basis. As a group, equities analysts forecast that UnitedHealth Group Incorporated will post 27.57 earnings per share for the current fiscal year.

UnitedHealth Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Monday, June 17th were issued a dividend of $2.10 per share. This is an increase from UnitedHealth Group’s previous quarterly dividend of $1.88. The ex-dividend date was Monday, June 17th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 1.65%. UnitedHealth Group’s payout ratio is 51.34%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on UNH shares. Erste Group Bank reissued a “hold” rating on shares of UnitedHealth Group in a report on Wednesday, March 13th. Truist Financial restated a “buy” rating and issued a $600.00 price target on shares of UnitedHealth Group in a research report on Wednesday, April 17th. Cantor Fitzgerald restated an “overweight” rating and issued a $591.00 price target on shares of UnitedHealth Group in a research report on Wednesday, June 12th. HSBC upgraded UnitedHealth Group from a “hold” rating to a “buy” rating and set a $580.00 target price for the company in a research report on Wednesday, June 5th. Finally, Royal Bank of Canada decreased their target price on UnitedHealth Group from $596.00 to $555.00 and set an “outperform” rating for the company in a research report on Wednesday, April 17th. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, UnitedHealth Group currently has an average rating of “Moderate Buy” and a consensus price target of $579.74.

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.