UnitedHealth Group Incorporated (NYSE:UNH) Shares Bought by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd lifted its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH - Free Report) by 966.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 523,920 shares of the healthcare conglomerate's stock after buying an additional 474,775 shares during the quarter. UnitedHealth Group makes up about 1.3% of OVERSEA CHINESE BANKING Corp Ltd's investment portfolio, making the stock its 14th largest holding. OVERSEA CHINESE BANKING Corp Ltd owned approximately 0.06% of UnitedHealth Group worth $274,403,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in UNH. Brighton Jones LLC lifted its stake in UnitedHealth Group by 176.2% during the fourth quarter. Brighton Jones LLC now owns 44,249 shares of the healthcare conglomerate's stock worth $22,384,000 after purchasing an additional 28,231 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake 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 lifted its stake 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. Proficio Capital Partners LLC lifted its stake in UnitedHealth Group by 52.1% during the fourth quarter. Proficio Capital Partners LLC now owns 3,734 shares of the healthcare conglomerate's stock worth $1,889,000 after purchasing an additional 1,279 shares during the last quarter. Finally, Wellington Shields & Co. LLC lifted its stake in UnitedHealth Group by 17.6% in the fourth quarter. Wellington Shields & Co. LLC now owns 241 shares of the healthcare conglomerate's stock valued at $122,000 after buying an additional 36 shares during the last quarter. Institutional investors and hedge funds own 87.86% of the company's stock.

UnitedHealth Group Trading Up 1.4%

NYSE:UNH opened at $303.81 on Monday. The stock's 50-day moving average is $314.52 and its two-hundred day moving average is $439.94. UnitedHealth Group Incorporated has a fifty-two week low of $248.88 and a fifty-two week high of $630.73. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market cap of $275.60 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 1.46 and a beta of 0.45.

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

UnitedHealth Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 24th. Stockholders of record on Monday, June 16th were given a dividend of $2.21 per share. The ex-dividend date was Monday, June 16th. This is a boost from UnitedHealth Group's previous quarterly dividend of $2.10. This represents a $8.84 dividend on an annualized basis and a dividend yield of 2.91%. UnitedHealth Group's payout ratio is currently 37.02%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. TD Securities reiterated a "hold" rating and issued a $308.00 target price (down from $520.00) on shares of UnitedHealth Group in a research note on Monday, May 19th. Wall Street Zen cut UnitedHealth Group from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Barclays cut their price objective on shares of UnitedHealth Group from $350.00 to $337.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 9th. Hsbc Global Res cut shares of UnitedHealth Group from a "hold" rating to a "moderate sell" rating in a research note on Wednesday, May 21st. Finally, Piper Sandler cut their price objective on shares of UnitedHealth Group from $552.00 to $353.00 and set an "overweight" rating on the stock in a research note on Tuesday, June 3rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, UnitedHealth Group has a consensus rating of "Moderate Buy" and an average target price of $415.00.

Insider Buying and Selling at UnitedHealth Group

In other UnitedHealth Group news, CEO Stephen J. Hemsley bought 86,700 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were bought at an average price of $288.57 per share, for a total transaction of $25,019,019.00. Following the completion of the acquisition, the chief executive officer owned 679,493 shares of the company's stock, valued at approximately $196,081,295.01. This trade represents a 14.63% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Timothy Patrick Flynn bought 1,533 shares of the firm's stock in a transaction dated Wednesday, May 14th. The shares were acquired at an average price of $320.80 per share, for a total transaction of $491,786.40. Following the acquisition, the director directly owned 6,033 shares of the company's stock, valued at approximately $1,935,386.40. The trade was a 34.07% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 109,408 shares of company stock valued at $31,607,768 in the last quarter. 0.28% of the stock is currently owned by corporate insiders.

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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