California Public Employees Retirement System Sells 373,367 Shares of UnitedHealth Group Incorporated $UNH

Key Points

• California Public Employees Retirement System (CalPERS) sold 373,367 shares of UnitedHealth, cutting its stake by 14.7% to 2,162,250 shares (about 0.24% of the company) valued at roughly $674.6 million.
• UnitedHealth reported $2.92 EPS for the quarter (beating estimates) and revenue of $113.16 billion, up 12.2% year-over-year, and announced a quarterly dividend of $2.21 per share (annualized $8.84, yield ~2.7%; ex-dividend Dec. 8, payable Dec. 16).
• The stock is trading around $330.61 with a market cap of about $299.5 billion and a P/E of 17.26, while analysts hold a consensus rating of "Hold" with an average price target near $385.54.

California Public Employees Retirement System lowered its stake in UnitedHealth Group Incorporated (NYSE:UNH - Free Report) by 14.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,162,250 shares of the healthcare conglomerate's stock after selling 373,367 shares during the period. California Public Employees Retirement System owned approximately 0.24% of UnitedHealth Group worth $674,557,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tlwm lifted its stake in shares of UnitedHealth Group by 1.0% in the first quarter. Tlwm now owns 2,736 shares of the healthcare conglomerate's stock worth $1,433,000 after buying an additional 28 shares during the last quarter. Forefront Analytics LLC raised its holdings in UnitedHealth Group by 4.2% in the 1st quarter. Forefront Analytics LLC now owns 820 shares of the healthcare conglomerate's stock worth $430,000 after acquiring an additional 33 shares during the period. TFB Advisors LLC boosted its holdings in UnitedHealth Group by 2.7% during the first quarter. TFB Advisors LLC now owns 1,272 shares of the healthcare conglomerate's stock valued at $666,000 after acquiring an additional 33 shares during the period. Bank OZK increased its stake in shares of UnitedHealth Group by 4.6% in the first quarter. Bank OZK now owns 766 shares of the healthcare conglomerate's stock worth $401,000 after purchasing an additional 34 shares during the period. Finally, GK Wealth Management LLC boosted its stake in UnitedHealth Group by 7.2% during the 1st quarter. GK Wealth Management LLC now owns 506 shares of the healthcare conglomerate's stock valued at $265,000 after purchasing an additional 34 shares during the period. 87.86% of the stock is currently owned by institutional investors and hedge funds.

UnitedHealth Group Stock Down 0.9%

Shares of UNH opened at $330.61 on Friday. UnitedHealth Group Incorporated has a 12 month low of $234.60 and a 12 month high of $606.36. The stock has a market cap of $299.48 billion, a price-to-earnings ratio of 17.26, a P/E/G ratio of 2.16 and a beta of 0.43. The company has a 50-day moving average price of $341.79 and a two-hundred day moving average price of $315.89. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.71.

UnitedHealth Group (NYSE:UNH - Get Free Report) last posted its earnings results on Tuesday, October 28th. The healthcare conglomerate reported $2.92 EPS for the quarter, topping the consensus estimate of $2.87 by $0.05. UnitedHealth Group had a return on equity of 19.23% and a net margin of 4.04%.The business had revenue of $113.16 billion during the quarter, compared to the consensus estimate of $113.19 billion. During the same quarter last year, the company earned $7.15 EPS. UnitedHealth Group's revenue was up 12.2% on a year-over-year basis. Equities analysts predict that UnitedHealth Group Incorporated will post 29.54 EPS for the current fiscal year.

UnitedHealth Group Announces Dividend

The company also recently announced 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. The ex-dividend date is Monday, December 8th. This represents a $8.84 dividend on an annualized basis and a dividend yield of 2.7%. UnitedHealth Group's dividend payout ratio (DPR) is 46.14%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on UNH shares. Morgan Stanley upped their price target on UnitedHealth Group from $325.00 to $395.00 and gave the stock an "overweight" rating in a report on Friday, September 12th. Truist Financial upped their target price on shares of UnitedHealth Group from $310.00 to $365.00 and gave the company a "buy" rating in a research note on Tuesday, September 9th. Wells Fargo & Company boosted their price objective on shares of UnitedHealth Group from $267.00 to $400.00 and gave the stock an "overweight" rating in a report on Tuesday, October 7th. Piper Sandler decreased their target price on UnitedHealth Group from $423.00 to $417.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 28th. Finally, Leerink Partners set a $410.00 price objective on UnitedHealth Group and gave the stock an "outperform" rating in a research report on Wednesday, October 29th. Seventeen analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $385.54.

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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