iA Global Asset Management Inc. Buys 38,910 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Key Points

• iA Global Asset Management Inc. increased its holdings in UnitedHealth Group by 20.8%, acquiring an additional 38,910 shares, which now represent 2.0% of its portfolio, valued at approximately $118.2 million.
• UnitedHealth Group has recently seen significant activity from other hedge funds, with notable increases in stock holdings by Capital International Investors and UBS AM, reflecting a general trend of institutional interest.
• The company announced a quarterly dividend increase to $2.21 per share, representing an annual yield of 3.7%, which is a boost from the previous dividend of $2.10.

iA Global Asset Management Inc. raised its holdings in shares of UnitedHealth Group Incorporated (NYSE:UNH - Free Report) by 20.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 225,724 shares of the healthcare conglomerate's stock after purchasing an additional 38,910 shares during the period. UnitedHealth Group accounts for 2.0% of iA Global Asset Management Inc.'s portfolio, making the stock its 11th largest position. iA Global Asset Management Inc.'s holdings in UnitedHealth Group were worth $118,223,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of UNH. Capital International Investors lifted 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 valued at $7,899,905,000 after purchasing an additional 906,365 shares during the period. Northern Trust Corp grew its holdings 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 acquiring an additional 1,058,488 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in UnitedHealth Group by 36.6% in the fourth 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 acquiring an additional 2,301,010 shares during the period. GAMMA Investing LLC increased its position in shares of UnitedHealth Group by 56,142.1% during the 1st quarter. GAMMA Investing LLC now owns 8,295,153 shares of the healthcare conglomerate's stock valued at $4,344,586,000 after purchasing an additional 8,280,404 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in UnitedHealth Group by 2.5% during the first quarter. Bank of New York Mellon Corp now owns 8,128,174 shares of the healthcare conglomerate's stock valued at $4,257,131,000 after buying an additional 196,696 shares during the period. Institutional investors own 87.86% of the company's stock.

Insider Buying and Selling

In other UnitedHealth Group news, Director Kristen Gil purchased 3,700 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was purchased at an average cost of $271.17 per share, with a total value of $1,003,329.00. Following the completion of the acquisition, the director directly owned 3,818 shares of the company's stock, valued at $1,035,327.06. This trade represents a 3,135.59% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Patrick Hugh Conway sold 589 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer owned 10,398 shares in the company, valued at $3,171,390. This represents a 5.36% decrease in their position. The disclosure for this sale can be found here. Insiders acquired 109,408 shares of company stock valued at $31,607,768 over the last 90 days. 0.28% of the stock is currently owned by corporate insiders.

UnitedHealth Group Trading Up 1.3%

Shares of UNH stock opened at $240.94 on Tuesday. The stock has a market cap of $218.57 billion, a price-to-earnings ratio of 10.44, a PEG ratio of 1.50 and a beta of 0.43. UnitedHealth Group Incorporated has a twelve month low of $234.60 and a twelve month high of $630.73. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.73. The company's 50-day moving average price is $295.77 and its 200-day moving average price is $412.81.

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

UnitedHealth Group Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Mizuho cut their price target on UnitedHealth Group from $515.00 to $350.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. Wells Fargo & Company dropped their target price on shares of UnitedHealth Group from $306.00 to $267.00 and set an "overweight" rating on the stock in a report on Monday. Baird R W lowered shares of UnitedHealth Group from a "hold" rating to a "strong sell" rating in a research note on Thursday, July 31st. TD Cowen downgraded shares of UnitedHealth Group from a "buy" rating to a "hold" rating and set a $308.00 price objective for the company. in a research note on Monday, May 19th. Finally, TD Securities reiterated a "hold" rating and set a $308.00 price objective (down previously from $520.00) on shares of UnitedHealth Group in a research note on Monday, May 19th. Three 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 stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $371.67.

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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