Resona Asset Management Co. Ltd. Purchases 20,241 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Key Points

• Resona Asset Management increased its stake in UnitedHealth Group by 7.1%, owning 304,422 shares worth approximately $159 million, making it the firm's 16th largest position.
• Insiders at UnitedHealth Group, including CFO John F. Rex and Director Timothy Patrick Flynn, have purchased significant shares recently, collectively acquiring over 109,000 shares valued at around $31.6 million.
• TD Cowen and Oppenheimer have downgraded UnitedHealth Group's stock ratings, with price targets now set at $308 and $325, respectively, while the stock currently holds an average rating of "Hold."

Resona Asset Management Co. Ltd. raised its stake in UnitedHealth Group Incorporated (NYSE:UNH - Free Report) by 7.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 304,422 shares of the healthcare conglomerate's stock after purchasing an additional 20,241 shares during the period. UnitedHealth Group accounts for 0.9% of Resona Asset Management Co. Ltd.'s holdings, making the stock its 16th biggest holding. Resona Asset Management Co. Ltd.'s holdings in UnitedHealth Group were worth $159,104,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in UNH. Brighton Jones LLC grew its holdings in shares of UnitedHealth Group by 176.2% during the fourth quarter. Brighton Jones LLC now owns 44,249 shares of the healthcare conglomerate's stock valued at $22,384,000 after buying an additional 28,231 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in UnitedHealth Group by 137.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 4,019 shares of the healthcare conglomerate's stock worth $2,033,000 after purchasing an additional 2,324 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in UnitedHealth Group by 3.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 263,655 shares of the healthcare conglomerate's stock worth $133,373,000 after purchasing an additional 9,872 shares during the last quarter. Peninsula Wealth LLC boosted its holdings in UnitedHealth Group by 4.9% during the fourth quarter. Peninsula Wealth LLC now owns 647 shares of the healthcare conglomerate's stock worth $327,000 after purchasing an additional 30 shares during the last quarter. Finally, Cohen & Steers Inc. boosted its holdings in UnitedHealth Group by 36.1% during the fourth quarter. Cohen & Steers Inc. now owns 656 shares of the healthcare conglomerate's stock worth $332,000 after purchasing an additional 174 shares during the last quarter. 87.86% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other UnitedHealth Group news, CFO John F. Rex acquired 17,175 shares of the business's stock in a transaction dated Friday, May 16th. The stock was bought at an average price of $291.12 per share, with a total value of $4,999,986.00. Following the purchase, the chief financial officer owned 203,796 shares of the company's stock, valued at approximately $59,329,091.52. This trade represents a 9.20% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Stephen J. Hemsley acquired 86,700 shares of the business's stock in a transaction dated Friday, May 16th. The stock was acquired at an average cost of $288.57 per share, with a total value of $25,019,019.00. Following the purchase, the chief executive officer directly owned 679,493 shares in the company, valued at $196,081,295.01. This represents a 14.63% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 109,408 shares of company stock worth $31,607,768. 0.28% of the stock is owned by corporate insiders.

UnitedHealth Group Price Performance

UnitedHealth Group stock traded up $9.22 during midday trading on Tuesday, reaching $261.59. 12,160,581 shares of the stock were exchanged, compared to its average volume of 18,478,328. The company's fifty day moving average is $289.94 and its 200-day moving average is $402.24. 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 $237.30 billion, a PE ratio of 11.33, a PEG ratio of 1.63 and a beta of 0.43. UnitedHealth Group Incorporated has a 52 week low of $234.60 and a 52 week high of $630.73.

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

UnitedHealth Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 24th. Shareholders of record on Monday, June 16th were paid a $2.21 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $8.84 dividend on an annualized basis and a yield of 3.4%. This is a boost from UnitedHealth Group's previous quarterly dividend of $2.10. UnitedHealth Group's dividend payout ratio is presently 38.30%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Argus cut shares of UnitedHealth Group from a "buy" rating to a "hold" rating in a report on Monday, April 21st. Robert W. Baird reaffirmed an "underperform" rating and issued a $198.00 price objective (down previously from $312.00) on shares of UnitedHealth Group in a research report on Thursday, July 31st. Mizuho lowered their price objective on shares of UnitedHealth Group from $515.00 to $350.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. Truist Financial lowered their price objective on shares of UnitedHealth Group from $360.00 to $345.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Finally, TD Securities reaffirmed a "hold" rating and issued a $308.00 price objective (down previously from $520.00) on shares of UnitedHealth Group in a research report on Monday, May 19th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $366.52.

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.