Renaissance Technologies LLC Invests $36.32 Million in UnitedHealth Group Incorporated (NYSE:UNH)

Renaissance Technologies LLC purchased a new position in UnitedHealth Group Incorporated (NYSE:UNH) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 71,326 shares of the healthcare conglomerate’s stock, valued at approximately $36,323,000.

Several other hedge funds have also recently modified their holdings of the stock. Signature Resources Capital Management LLC grew its position in shares of UnitedHealth Group by 40.0% during the second quarter. Signature Resources Capital Management LLC now owns 63 shares of the healthcare conglomerate’s stock valued at $32,000 after purchasing an additional 18 shares in the last quarter. Saxony Capital Management LLC increased its stake in UnitedHealth Group by 3.5% in the 2nd quarter. Saxony Capital Management LLC now owns 530 shares of the healthcare conglomerate’s stock worth $270,000 after acquiring an additional 18 shares during the last quarter. GoalVest Advisory LLC boosted its position in shares of UnitedHealth Group by 0.6% during the 2nd quarter. GoalVest Advisory LLC now owns 3,124 shares of the healthcare conglomerate’s stock valued at $1,591,000 after acquiring an additional 18 shares during the last quarter. Fiduciary Group LLC increased its position in UnitedHealth Group by 0.5% in the second quarter. Fiduciary Group LLC now owns 3,695 shares of the healthcare conglomerate’s stock worth $1,882,000 after purchasing an additional 18 shares during the last quarter. Finally, Continuum Advisory LLC lifted its position in UnitedHealth Group by 0.6% during the second quarter. Continuum Advisory LLC now owns 3,410 shares of the healthcare conglomerate’s stock valued at $1,737,000 after purchasing an additional 19 shares during the last quarter. Hedge funds and other institutional investors own 87.86% of the company’s stock.

UnitedHealth Group Price Performance

NYSE UNH opened at $580.32 on Thursday. The firm’s 50 day moving average price is $574.38 and its 200-day moving average price is $519.42. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $535.88 billion, a PE ratio of 35.47, a P/E/G ratio of 1.64 and a beta of 0.58. UnitedHealth Group Incorporated has a 52-week low of $436.38 and a 52-week high of $607.94.

UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings data on Tuesday, July 16th. The healthcare conglomerate reported $6.80 earnings per share for the quarter, topping analysts’ consensus estimates of $6.66 by $0.14. The firm had revenue of $98.86 billion during the quarter, compared to analysts’ expectations of $98.73 billion. UnitedHealth Group had a return on equity of 26.55% and a net margin of 3.66%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the business posted $6.14 EPS. Sell-side analysts forecast that UnitedHealth Group Incorporated will post 27.69 EPS for the current fiscal year.

UnitedHealth Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 24th. Shareholders of record on Monday, September 16th will be issued a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Monday, September 16th. UnitedHealth Group’s dividend payout ratio is currently 51.34%.

Insider Activity

In other UnitedHealth Group news, EVP Erin Mcsweeney sold 1,500 shares of the stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $579.03, for a total value of $868,545.00. Following the completion of the sale, the executive vice president now directly owns 7,785 shares in the company, valued at $4,507,748.55. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CAO Thomas E. Roos sold 2,851 shares of UnitedHealth Group stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $569.88, for a total transaction of $1,624,727.88. Following the completion of the sale, the chief accounting officer now directly owns 29,501 shares in the company, valued at $16,812,029.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Erin Mcsweeney sold 1,500 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $579.03, for a total value of $868,545.00. Following the completion of the transaction, the executive vice president now directly owns 7,785 shares in the company, valued at $4,507,748.55. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

UNH has been the subject of a number of analyst reports. HSBC increased their price target on shares of UnitedHealth Group from $580.00 to $610.00 in a report on Thursday, July 18th. Wells Fargo & Company increased their price target on UnitedHealth Group from $525.00 to $630.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Royal Bank of Canada boosted their price objective on shares of UnitedHealth Group from $555.00 to $615.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Robert W. Baird upped their price target on shares of UnitedHealth Group from $597.00 to $640.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. boosted their target price on UnitedHealth Group from $546.00 to $559.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. One research analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $614.17.

UnitedHealth Group 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.