Baker Avenue Asset Management LP Purchases 4,513 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Key Points

• Baker Avenue Asset Management LP significantly increased its stake in UnitedHealth Group by 304.9%, acquiring an additional 4,513 shares for a total holding of 5,993 shares valued at approximately $3.1 million.
• The company declared a quarterly dividend of $2.21, up from the previous $2.10, with an annualized yield of 3.7%.
• UnitedHealth Group's shares opened at $237.40, with the stock experiencing a 52-week range of $234.60 to $630.73.

Baker Avenue Asset Management LP raised its holdings in UnitedHealth Group Incorporated (NYSE:UNH - Free Report) by 304.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,993 shares of the healthcare conglomerate's stock after purchasing an additional 4,513 shares during the period. Baker Avenue Asset Management LP's holdings in UnitedHealth Group were worth $3,139,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of UnitedHealth Group by 56,142.1% in the first quarter. GAMMA Investing LLC now owns 8,295,153 shares of the healthcare conglomerate's stock worth $4,344,586,000 after buying an additional 8,280,404 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of UnitedHealth Group by 36.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,592,718 shares of the healthcare conglomerate's stock valued at $4,346,712,000 after purchasing an additional 2,301,010 shares in the last quarter. Northern Trust Corp raised its position in shares of UnitedHealth Group by 12.5% in the fourth quarter. Northern Trust Corp now owns 9,503,671 shares of the healthcare conglomerate's stock worth $4,807,527,000 after buying an additional 1,058,488 shares in the last quarter. Capital International Investors grew its position in UnitedHealth Group by 6.2% during the fourth quarter. Capital International Investors now owns 15,616,007 shares of the healthcare conglomerate's stock worth $7,899,905,000 after buying an additional 906,365 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of UnitedHealth Group in the 4th quarter valued at about $367,521,000. 87.86% of the stock is currently owned by hedge funds and other institutional investors.

UnitedHealth Group Price Performance

Shares of UNH stock opened at $237.40 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market cap of $215.36 billion, a P/E ratio of 10.29, a P/E/G ratio of 1.56 and a beta of 0.43. The business's 50 day moving average price is $296.86 and its 200-day moving average price is $416.24. UnitedHealth Group Incorporated has a fifty-two week low of $234.60 and a fifty-two week high of $630.73.

UnitedHealth Group (NYSE:UNH - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The healthcare conglomerate reported $4.08 EPS for the quarter, missing the consensus estimate of $4.45 by ($0.37). UnitedHealth Group had a return on equity of 23.32% and a net margin of 5.04%. The company had revenue of $111.62 billion during the quarter, compared to the consensus estimate of $111.75 billion. During the same quarter last year, the company posted $6.80 earnings per share. The firm's revenue for the quarter was up 12.9% compared to the same quarter last year. On average, equities research analysts anticipate that UnitedHealth Group Incorporated will post 29.54 earnings per share for the current year.

UnitedHealth Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 24th. Investors of record on Monday, June 16th were paid a $2.21 dividend. The ex-dividend date of this dividend was Monday, June 16th. This is a positive change from UnitedHealth Group's previous quarterly dividend of $2.10. This represents a $8.84 annualized dividend and a yield of 3.7%. UnitedHealth Group's payout ratio is currently 38.30%.

Insiders Place Their Bets

In other news, CEO Patrick Hugh Conway sold 589 shares of the business's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $305.00, for a total transaction of $179,645.00. Following the sale, the chief executive officer owned 10,398 shares in the company, valued at approximately $3,171,390. The trade was a 5.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Timothy Patrick Flynn purchased 1,533 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were acquired at an average cost of $320.80 per share, with a total value of $491,786.40. Following the completion of the transaction, the director owned 6,033 shares in the company, valued at $1,935,386.40. This trade represents a 34.07% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 109,408 shares of company stock valued at $31,607,768 in the last 90 days. Corporate insiders own 0.28% of the company's stock.

Analysts Set New Price Targets

UNH has been the topic of a number of recent analyst reports. Erste Group Bank downgraded shares of UnitedHealth Group from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Truist Financial dropped their price objective on shares of UnitedHealth Group from $360.00 to $345.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Bank of America reduced their target price on UnitedHealth Group from $350.00 to $300.00 and set a "neutral" rating on the stock in a research note on Tuesday. Oppenheimer cut their price objective on UnitedHealth Group from $400.00 to $325.00 and set an "outperform" rating for the company in a report on Wednesday. Finally, Royal Bank Of Canada cut their target price on UnitedHealth Group from $355.00 to $286.00 and set an "outperform" rating for the company in a research note on Wednesday. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat, UnitedHealth Group presently has a consensus rating of "Hold" and an average price target of $373.52.

UnitedHealth Group 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.

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