Penserra Capital Management LLC Trims Stock Position in UnitedHealth Group Incorporated (NYSE:UNH)

Penserra Capital Management LLC reduced its position in UnitedHealth Group Incorporated (NYSE:UNH) by 98.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 6,629 shares of the healthcare conglomerate’s stock after selling 352,371 shares during the period. Penserra Capital Management LLC’s holdings in UnitedHealth Group were worth $3,874,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Kathleen S. Wright Associates Inc. acquired a new stake in UnitedHealth Group during the 3rd quarter worth $27,000. Macroview Investment Management LLC increased its position in UnitedHealth Group by 671.4% in the 2nd quarter. Macroview Investment Management LLC now owns 54 shares of the healthcare conglomerate’s stock valued at $28,000 after acquiring an additional 47 shares during the period. Bbjs Financial Advisors LLC acquired a new stake in UnitedHealth Group during the 2nd quarter worth approximately $31,000. Global Wealth Strategies & Associates increased its holdings in shares of UnitedHealth Group by 152.4% in the third quarter. Global Wealth Strategies & Associates now owns 53 shares of the healthcare conglomerate’s stock valued at $31,000 after purchasing an additional 32 shares during the period. Finally, Signature Resources Capital Management LLC grew its position in UnitedHealth Group by 40.0% in the 2nd quarter. Signature Resources Capital Management LLC now owns 63 shares of the healthcare conglomerate’s stock valued at $32,000 after buying an additional 18 shares during the last quarter. Hedge funds and other institutional investors own 87.86% of the company’s stock.

UnitedHealth Group Stock Up 2.5 %

Shares of NYSE UNH opened at $605.53 on Tuesday. UnitedHealth Group Incorporated has a 1 year low of $436.38 and a 1 year high of $630.73. The firm has a market cap of $557.26 billion, a P/E ratio of 39.45, a price-to-earnings-growth ratio of 1.73 and a beta of 0.58. The firm’s 50 day moving average price is $582.96 and its 200 day moving average price is $553.99. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.91 and a current ratio of 0.91.

UnitedHealth Group (NYSE:UNH) last released its earnings results on Tuesday, October 15th. The healthcare conglomerate reported $7.15 earnings per share 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 firm had revenue of $100.82 billion for the quarter, compared to the consensus estimate of $99.14 billion. During the same period in the prior year, the business posted $6.56 earnings per share. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that UnitedHealth Group Incorporated will post 27.6 earnings per share for the current year.

UnitedHealth Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Monday, December 9th will be paid a dividend of $2.10 per share. The ex-dividend date is Monday, December 9th. This represents a $8.40 annualized dividend and a dividend yield of 1.39%. UnitedHealth Group’s dividend payout ratio is presently 54.72%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on UNH shares. Truist Financial reaffirmed a “buy” rating and issued a $625.00 target price (down previously from $640.00) on shares of UnitedHealth Group in a report on Wednesday, October 16th. Royal Bank of Canada cut their target price on UnitedHealth Group from $615.00 to $595.00 and set an “outperform” rating for the company in a research note on Wednesday, October 16th. Cantor Fitzgerald upped their price objective on UnitedHealth Group from $591.00 to $644.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Bank of America decreased their target price 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. Finally, TD Cowen raised their price objective on shares of UnitedHealth Group from $601.00 to $609.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, UnitedHealth Group has a consensus rating of “Moderate Buy” and an average price target of $615.53.

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.