Concord Investment Counsel Inc. Takes Position in UnitedHealth Group Incorporated (NYSE:UNH)

Concord Investment Counsel Inc. bought a new position in shares of UnitedHealth Group Incorporated (NYSE:UNH) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 29,399 shares of the healthcare conglomerate’s stock, valued at approximately $14,544,000. UnitedHealth Group accounts for about 5.3% of Concord Investment Counsel Inc.’s investment portfolio, making the stock its 6th biggest position.

A number of other large investors have also added to or reduced their stakes in UNH. Norges Bank acquired a new stake in UnitedHealth Group during the fourth quarter worth about $5,802,231,000. International Assets Investment Management LLC increased its stake in UnitedHealth Group by 53,573.1% in the fourth quarter. International Assets Investment Management LLC now owns 2,352,490 shares of the healthcare conglomerate’s stock valued at $1,238,515,000 after acquiring an additional 2,348,107 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of UnitedHealth Group by 49.3% in the 4th quarter. Jennison Associates LLC now owns 3,617,813 shares of the healthcare conglomerate’s stock valued at $1,904,670,000 after purchasing an additional 1,195,352 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of UnitedHealth Group by 35.9% during the 4th quarter. California Public Employees Retirement System now owns 3,090,986 shares of the healthcare conglomerate’s stock worth $1,627,311,000 after buying an additional 815,822 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado grew its position in UnitedHealth Group by 3,464.9% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 825,311 shares of the healthcare conglomerate’s stock valued at $434,501,000 after acquiring an additional 802,160 shares during the last quarter. Institutional investors and hedge funds own 87.86% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. TD Cowen lowered their price target on shares of UnitedHealth Group from $607.00 to $546.00 and set a “buy” rating for the company in a report on Wednesday, April 10th. Wells Fargo & Company lowered their price objective on UnitedHealth Group from $600.00 to $525.00 and set an “overweight” rating for the company in a research note on Monday, April 8th. HSBC raised shares of UnitedHealth Group from a “hold” rating to a “buy” rating and set a $580.00 target price on the stock in a report on Wednesday, June 5th. Truist Financial restated a “buy” rating and issued a $600.00 price objective on shares of UnitedHealth Group in a report on Wednesday, April 17th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on UnitedHealth Group from $545.00 to $562.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Two research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, UnitedHealth Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $581.44.

UnitedHealth Group Stock Up 1.6 %

Shares of NYSE:UNH traded up $7.85 during mid-day trading on Friday, hitting $512.21. 1,458,531 shares of the company traded hands, compared to its average volume of 4,221,000. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69. The stock has a 50-day moving average price of $499.20 and a two-hundred day moving average price of $500.05. UnitedHealth Group Incorporated has a 12-month low of $436.38 and a 12-month high of $554.70. The stock has a market cap of $471.43 billion, a P/E ratio of 30.93, a P/E/G ratio of 1.47 and a beta of 0.60.

UnitedHealth Group (NYSE:UNH) last released its quarterly earnings results on Tuesday, April 16th. The healthcare conglomerate reported $6.91 earnings per share for the quarter, topping the consensus estimate of $6.63 by $0.28. UnitedHealth Group had a net margin of 4.05% and a return on equity of 26.50%. The business had revenue of $99.80 billion for the quarter, compared to analysts’ expectations of $99.23 billion. During the same period in the previous year, the company earned $6.26 earnings per share. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, equities research analysts forecast that UnitedHealth Group Incorporated will post 27.55 earnings per share for the current year.

UnitedHealth Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Monday, June 17th were issued a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 1.64%. This is a positive change from UnitedHealth Group’s previous quarterly dividend of $1.88. The ex-dividend date was Monday, June 17th. UnitedHealth Group’s dividend payout ratio is 51.34%.

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.