Connor Clark & Lunn Investment Management Ltd. Purchases 70,724 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in UnitedHealth Group by 249.4%, owning 99,084 shares worth approximately $51.9 million as of the latest SEC filing.
• UnitedHealth Group's quarterly dividend was increased to $2.21, representing an annualized dividend of $8.84 with a 3.5% yield.
• Analysts have a mixed outlook on UnitedHealth Group, with price target reductions and multiple ratings, resulting in an average rating of "Hold" and a target price of $366.52.

Connor Clark & Lunn Investment Management Ltd. grew its position in UnitedHealth Group Incorporated (NYSE:UNH - Free Report) by 249.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 99,084 shares of the healthcare conglomerate's stock after purchasing an additional 70,724 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in UnitedHealth Group were worth $51,895,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Marshall & Sterling Wealth Advisors Inc. bought a new position in UnitedHealth Group during the fourth quarter valued at about $26,000. Bayforest Capital Ltd raised its holdings in shares of UnitedHealth Group by 685.7% in the 1st quarter. Bayforest Capital Ltd now owns 55 shares of the healthcare conglomerate's stock worth $29,000 after purchasing an additional 48 shares during the period. Kapitalo Investimentos Ltda bought a new position in UnitedHealth Group during the fourth quarter valued at $41,000. Copia Wealth Management bought a new position in shares of UnitedHealth Group during the 4th quarter worth $42,000. Finally, IAG Wealth Partners LLC bought a new position in shares of UnitedHealth Group during the 1st quarter worth $42,000. Hedge funds and other institutional investors own 87.86% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on UNH shares. TD Securities reiterated a "hold" rating and issued a $308.00 target price (down previously from $520.00) on shares of UnitedHealth Group in a research note on Monday, May 19th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of UnitedHealth Group from $521.00 to $362.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th. Baird R W downgraded shares of UnitedHealth Group from a "hold" rating to a "strong sell" rating in a research note on Thursday, July 31st. Raymond James Financial downgraded shares of UnitedHealth Group from a "strong-buy" rating to a "market perform" rating in a research note on Wednesday, May 14th. Finally, Royal Bank Of Canada reduced their target price on shares of UnitedHealth Group from $355.00 to $286.00 and set an "outperform" rating for the company in a research note on Wednesday, July 30th. 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. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $366.52.

Insider Activity

In other UnitedHealth Group news, Director Kristen Gil bought 3,700 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were purchased at an average price of $271.17 per share, for a total transaction of $1,003,329.00. Following the acquisition, the director owned 3,818 shares in the company, valued at approximately $1,035,327.06. This represents a 3,135.59% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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. This trade represents a 5.36% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 109,408 shares of company stock worth $31,607,768. 0.28% of the stock is currently owned by corporate insiders.

UnitedHealth Group Trading Up 2.5%

Shares of NYSE UNH traded up $6.07 during mid-day trading on Friday, hitting $250.74. The stock had a trading volume of 10,146,688 shares, compared to its average volume of 18,404,546. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.85 and a current ratio of 0.85. UnitedHealth Group Incorporated has a 1 year low of $234.60 and a 1 year high of $630.73. The business has a 50 day moving average price of $291.78 and a two-hundred day moving average price of $406.04. The firm has a market cap of $227.46 billion, a P/E ratio of 10.86, a price-to-earnings-growth ratio of 1.62 and a beta of 0.43.

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

UnitedHealth Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 24th. Stockholders of record on Monday, June 16th were issued a dividend of $2.21 per share. This is a boost from UnitedHealth Group's previous quarterly dividend of $2.10. The ex-dividend date was Monday, June 16th. This represents a $8.84 dividend on an annualized basis and a dividend yield of 3.5%. UnitedHealth Group's dividend payout ratio (DPR) is presently 38.30%.

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.