RedJay Asset Management Inc. Purchases New Position in UnitedHealth Group Incorporated (NYSE:UNH)

RedJay Asset Management Inc. purchased a new stake in shares of UnitedHealth Group Incorporated (NYSE:UNH - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,000 shares of the healthcare conglomerate's stock, valued at approximately $2,095,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. NewSquare Capital LLC bought a new position in shares of UnitedHealth Group during the 4th quarter worth approximately $25,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in UnitedHealth Group during the 4th quarter worth $26,000. Hurley Capital LLC acquired a new stake in UnitedHealth Group in the fourth quarter worth about $28,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of UnitedHealth Group during the fourth quarter worth about $30,000. Finally, Promus Capital LLC purchased a new position in shares of UnitedHealth Group in the 4th quarter valued at approximately $32,000. 87.86% of the stock is owned by hedge funds and other institutional investors.

UnitedHealth Group Stock Up 2.1%

Shares of UNH opened at $308.85 on Monday. The stock's 50 day moving average is $336.21 and its two-hundred day moving average is $453.53. UnitedHealth Group Incorporated has a 12 month low of $248.88 and a 12 month high of $630.73. The firm has a market cap of $280.17 billion, a P/E ratio of 12.93, a PEG ratio of 1.46 and a beta of 0.45. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.71.

UnitedHealth Group (NYSE:UNH - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The healthcare conglomerate reported $7.20 EPS for the quarter, missing the consensus estimate of $7.29 by ($0.09). UnitedHealth Group had a net margin of 5.39% and a return on equity of 26.29%. The firm had revenue of $109.58 billion during the quarter, compared to analyst estimates of $111.56 billion. During the same period in the prior year, the company posted $6.91 earnings per share. Analysts predict that UnitedHealth Group Incorporated will post 29.54 earnings per share for the current fiscal year.

UnitedHealth Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 24th. Stockholders of record on Monday, June 16th were paid a $2.21 dividend. This represents a $8.84 dividend on an annualized basis and a dividend yield of 2.86%. This is an increase from UnitedHealth Group's previous quarterly dividend of $2.10. The ex-dividend date was Monday, June 16th. UnitedHealth Group's payout ratio is 37.02%.

Insider Activity

In other UnitedHealth Group news, Director John H. Noseworthy purchased 300 shares of UnitedHealth Group stock in a transaction dated Wednesday, May 14th. The shares were acquired at an average price of $312.16 per share, with a total value of $93,648.00. Following the completion of the transaction, the director now owns 6,063 shares of the company's stock, valued at $1,892,626.08. This trade represents a 5.21% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Stephen J. Hemsley bought 86,700 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were acquired at an average cost of $288.57 per share, for a total transaction of $25,019,019.00. Following the completion of the purchase, the chief executive officer now owns 679,493 shares in the company, valued at $196,081,295.01. This trade represents a 14.63% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 109,408 shares of company stock valued at $31,607,768. 0.28% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on UNH shares. Piper Sandler decreased their price target on shares of UnitedHealth Group from $552.00 to $353.00 and set an "overweight" rating for the company in a report on Tuesday, June 3rd. Argus lowered UnitedHealth Group from a "buy" rating to a "hold" rating in a research note on Monday, April 21st. Wells Fargo & Company reissued an "overweight" rating on shares of UnitedHealth Group in a report on Friday, June 6th. Baird R W downgraded UnitedHealth Group from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 11th. Finally, Mizuho reduced their price target on shares of UnitedHealth Group from $515.00 to $350.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $415.57.

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.

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