1832 Asset Management L.P. Raises Stock Holdings in UnitedHealth Group Incorporated (NYSE:UNH)

1832 Asset Management L.P. raised its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 12.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,797,607 shares of the healthcare conglomerate’s stock after purchasing an additional 192,128 shares during the quarter. UnitedHealth Group makes up about 0.7% of 1832 Asset Management L.P.’s holdings, making the stock its 11th biggest holding. 1832 Asset Management L.P. owned about 0.20% of UnitedHealth Group worth $915,449,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in UNH. Aveo Capital Partners LLC increased its position in UnitedHealth Group by 23.8% during the 4th quarter. Aveo Capital Partners LLC now owns 2,164 shares of the healthcare conglomerate’s stock valued at $1,139,000 after purchasing an additional 416 shares during the period. 9258 Wealth Management LLC boosted its holdings in shares of UnitedHealth Group by 7.3% during the 4th quarter. 9258 Wealth Management LLC now owns 4,273 shares of the healthcare conglomerate’s stock valued at $2,250,000 after buying an additional 290 shares in the last quarter. Gryphon Financial Partners LLC boosted its holdings in shares of UnitedHealth Group by 80.9% during the 4th quarter. Gryphon Financial Partners LLC now owns 6,220 shares of the healthcare conglomerate’s stock valued at $3,275,000 after buying an additional 2,782 shares in the last quarter. TrinityPoint Wealth LLC boosted its holdings in shares of UnitedHealth Group by 102.8% during the 4th quarter. TrinityPoint Wealth LLC now owns 14,774 shares of the healthcare conglomerate’s stock valued at $7,778,000 after buying an additional 7,489 shares in the last quarter. Finally, ProVise Management Group LLC boosted its holdings in shares of UnitedHealth Group by 3.0% during the 4th quarter. ProVise Management Group LLC now owns 5,256 shares of the healthcare conglomerate’s stock valued at $2,767,000 after buying an additional 155 shares in the last quarter. 87.86% of the stock is owned by hedge funds and other institutional investors.

UnitedHealth Group Price Performance

NYSE UNH opened at $575.00 on Friday. UnitedHealth Group Incorporated has a 52 week low of $436.38 and a 52 week high of $607.94. The firm has a market capitalization of $529.22 billion, a P/E ratio of 35.15, a PEG ratio of 1.64 and a beta of 0.58. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.67. The company has a 50-day moving average price of $577.10 and a 200-day moving average price of $520.80.

UnitedHealth Group (NYSE:UNH) last released its earnings results on Tuesday, July 16th. The healthcare conglomerate reported $6.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.66 by $0.14. The company had revenue of $98.86 billion during the quarter, compared to analyst estimates of $98.73 billion. UnitedHealth Group had a net margin of 3.66% and a return on equity of 26.55%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.14 EPS. Equities research analysts anticipate that UnitedHealth Group Incorporated will post 27.69 earnings per share for the current year.

UnitedHealth Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 24th. Investors of record on Monday, September 16th will be issued a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 1.46%. The ex-dividend date is Monday, September 16th. UnitedHealth Group’s dividend payout ratio is 51.34%.

Analysts Set New Price Targets

A number of analysts have recently commented on UNH shares. Wells Fargo & Company boosted their target price on shares of 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 upped their price target on shares of UnitedHealth Group from $555.00 to $615.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. Truist Financial upped their price target on shares of UnitedHealth Group from $600.00 to $640.00 and gave the stock a “buy” rating in a research note 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 stock an “outperform” rating in a research note on Wednesday, July 17th. Finally, Morgan Stanley boosted their target price on UnitedHealth Group from $595.00 to $615.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. One research analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, UnitedHealth Group has a consensus rating of “Buy” and an average price target of $614.17.

Insider Buying and Selling

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

About UnitedHealth Group

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.