Magellan Asset Management Ltd Increases Stock Holdings in UnitedHealth Group Incorporated $UNH

Magellan Asset Management Ltd grew its stake in UnitedHealth Group Incorporated (NYSE:UNH) by 47.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 822,867 shares of the healthcare conglomerate’s stock after buying an additional 264,955 shares during the period. UnitedHealth Group accounts for 2.9% of Magellan Asset Management Ltd’s investment portfolio, making the stock its 13th largest holding. Magellan Asset Management Ltd owned about 0.09% of UnitedHealth Group worth $256,710,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Bayforest Capital Ltd increased its position in UnitedHealth Group by 685.7% during the first quarter. Bayforest Capital Ltd now owns 55 shares of the healthcare conglomerate’s stock worth $29,000 after buying an additional 48 shares during the period. Clal Insurance Enterprises Holdings Ltd raised its position in UnitedHealth Group by 416.7% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 62 shares of the healthcare conglomerate’s stock valued at $32,000 after purchasing an additional 50 shares during the last quarter. Glass Jacobson Investment Advisors llc increased its stake in UnitedHealth Group by 80.9% in the second quarter. Glass Jacobson Investment Advisors llc now owns 123 shares of the healthcare conglomerate’s stock valued at $38,000 after purchasing an additional 55 shares during the period. Kentucky Trust Co boosted its stake in shares of UnitedHealth Group by 53.8% during the second quarter. Kentucky Trust Co now owns 143 shares of the healthcare conglomerate’s stock worth $45,000 after buying an additional 50 shares during the period. Finally, Nova Wealth Management Inc. raised its stake in UnitedHealth Group by 339.1% during the 1st quarter. Nova Wealth Management Inc. now owns 101 shares of the healthcare conglomerate’s stock valued at $53,000 after acquiring an additional 78 shares during the last quarter. Hedge funds and other institutional investors own 87.86% of the company’s stock.

UnitedHealth Group Stock Performance

NYSE UNH opened at $324.29 on Friday. The business has a 50 day moving average price of $345.84 and a 200 day moving average price of $323.37. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.82 and a quick ratio of 0.85. The company has a market capitalization of $293.75 billion, a P/E ratio of 16.93, a PEG ratio of 2.28 and a beta of 0.47. UnitedHealth Group Incorporated has a 1-year low of $234.60 and a 1-year high of $630.73.

UnitedHealth Group (NYSE:UNH) last announced its quarterly earnings results on Tuesday, October 28th. The healthcare conglomerate reported $2.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.87 by $0.05. The business had revenue of $113.16 billion during the quarter, compared to analysts’ expectations of $113.19 billion. UnitedHealth Group had a return on equity of 19.23% and a net margin of 4.04%.The business’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter last year, the business posted $7.15 earnings per share. Sell-side analysts expect that UnitedHealth Group Incorporated will post 29.54 EPS for the current fiscal year.

UnitedHealth Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Investors of record on Monday, December 8th will be given a dividend of $2.21 per share. This represents a $8.84 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Monday, December 8th. UnitedHealth Group’s payout ratio is currently 46.14%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on UNH. Morgan Stanley boosted their target price on UnitedHealth Group from $325.00 to $395.00 and gave the company an “overweight” rating in a report on Friday, September 12th. Weiss Ratings upgraded shares of UnitedHealth Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, October 24th. Baird R W cut shares of UnitedHealth Group from a “hold” rating to a “strong sell” rating in a report on Thursday, July 31st. Royal Bank Of Canada boosted their target price on UnitedHealth Group from $286.00 to $408.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Finally, Piper Sandler decreased their price target on UnitedHealth Group from $423.00 to $417.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 28th. Eighteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, UnitedHealth Group presently has a consensus rating of “Moderate Buy” and an average target price of $397.12.

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.