683 Capital Management LLC Makes New $27.24 Million Investment in UnitedHealth Group Incorporated $UNH

Key Points

• 683 Capital Management LLC has acquired 52,000 shares of UnitedHealth Group valued at approximately $27 million, making it the fund's 8th largest position.
• UnitedHealth Group reported an EPS of $4.08 for the last quarter, missing estimates, while the company’s quarterly revenue increased by 12.9% year-over-year.
• The company recently announced a quarterly dividend of $2.21 per share, representing an annualized dividend of $8.84 and a dividend yield of 2.9%.

683 Capital Management LLC purchased a new position in UnitedHealth Group Incorporated (NYSE:UNH - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 52,000 shares of the healthcare conglomerate's stock, valued at approximately $27,235,000. UnitedHealth Group accounts for approximately 1.9% of 683 Capital Management LLC's investment portfolio, making the stock its 8th biggest position.

A number of other hedge funds have also recently made changes to their positions in the business. Brighton Jones LLC increased its stake in shares of UnitedHealth Group by 176.2% in the fourth quarter. Brighton Jones LLC now owns 44,249 shares of the healthcare conglomerate's stock worth $22,384,000 after purchasing an additional 28,231 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in UnitedHealth Group by 137.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 4,019 shares of the healthcare conglomerate's stock valued at $2,033,000 after purchasing an additional 2,324 shares during the last quarter. Algert Global LLC lifted its holdings in shares of UnitedHealth Group by 5.3% in the 4th quarter. Algert Global LLC now owns 3,175 shares of the healthcare conglomerate's stock worth $1,606,000 after acquiring an additional 160 shares during the last quarter. BIP Wealth LLC raised its holdings in UnitedHealth Group by 38.4% during the 4th quarter. BIP Wealth LLC now owns 844 shares of the healthcare conglomerate's stock valued at $427,000 after buying an additional 234 shares during the last quarter. Finally, Cary Street Partners Financial LLC bought a new stake in UnitedHealth Group during the 4th quarter valued at $11,477,000. 87.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on UNH shares. Royal Bank Of Canada reduced their price objective on shares of UnitedHealth Group from $355.00 to $286.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 30th. TD Cowen cut shares of UnitedHealth Group from a "buy" rating to a "hold" rating and set a $308.00 target price on the stock. in a research note on Monday, May 19th. Raymond James Financial cut shares of UnitedHealth Group from a "strong-buy" rating to a "market perform" rating in a research note on Wednesday, May 14th. Baird R W lowered shares of UnitedHealth Group from a "hold" rating to a "strong sell" rating in a report on Thursday, July 31st. Finally, Wall Street Zen lowered shares of UnitedHealth Group from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Fifteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $353.00.

Insider Buying and Selling

In other UnitedHealth Group news, CEO Patrick Hugh Conway sold 589 shares of the firm's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $305.00, for a total value of $179,645.00. Following the completion of the sale, the chief executive officer directly owned 10,398 shares of the company's stock, valued at $3,171,390. This trade represents a 5.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.28% of the company's stock.

UnitedHealth Group Trading Down 0.5%

UNH traded down $1.53 during trading on Wednesday, reaching $307.27. The company had a trading volume of 9,530,699 shares, compared to its average volume of 18,019,772. The stock has a market cap of $278.29 billion, a P/E ratio of 13.31, a PEG ratio of 2.00 and a beta of 0.45. The business has a 50 day simple moving average of $288.51 and a 200-day simple moving average of $377.17. UnitedHealth Group Incorporated has a 52 week low of $234.60 and a 52 week high of $630.73. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.73.

UnitedHealth Group (NYSE:UNH - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The healthcare conglomerate reported $4.08 EPS for the quarter, missing the consensus estimate of $4.45 by ($0.37). The firm had revenue of $111.62 billion for the quarter, compared to analysts' expectations of $111.75 billion. UnitedHealth Group had a net margin of 5.04% and a return on equity of 23.32%. The business's quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $6.80 EPS. UnitedHealth Group has set its FY 2025 guidance at 16.000- EPS. On average, equities analysts anticipate that UnitedHealth Group Incorporated will post 29.54 EPS for the current fiscal year.

UnitedHealth Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Monday, September 15th will be paid a $2.21 dividend. This represents a $8.84 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Monday, September 15th. UnitedHealth Group's dividend payout ratio is currently 38.30%.

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.