UnitedHealth Group Incorporated (NYSE:UNH) Shares Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue boosted its position in shares of UnitedHealth Group Incorporated (NYSE:UNH - Free Report) by 2.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 132,495 shares of the healthcare conglomerate's stock after purchasing an additional 3,024 shares during the quarter. UnitedHealth Group makes up 0.8% of State of Alaska Department of Revenue's portfolio, making the stock its 16th biggest holding. State of Alaska Department of Revenue's holdings in UnitedHealth Group were worth $69,393,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in UNH. Norges Bank purchased a new stake in UnitedHealth Group in the fourth quarter valued at approximately $6,375,744,000. GAMMA Investing LLC grew its stake 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 buying an additional 8,280,404 shares during the period. Raymond James Financial Inc. acquired a new position in UnitedHealth Group in the fourth quarter valued at $1,914,740,000. Amundi raised its holdings in shares of UnitedHealth Group by 97.2% in the 4th quarter. Amundi now owns 6,069,100 shares of the healthcare conglomerate's stock worth $3,183,132,000 after purchasing an additional 2,991,470 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in UnitedHealth Group by 36.6% during the 4th 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 worth $4,346,712,000 after purchasing an additional 2,301,010 shares in the last quarter. 87.86% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on UNH shares. JPMorgan Chase & Co. cut their target price on shares of UnitedHealth Group from $525.00 to $405.00 and set an "overweight" rating on the stock in a research note on Thursday, May 15th. TD Cowen downgraded UnitedHealth Group from a "buy" rating to a "hold" rating and set a $308.00 target price for the company. in a research report on Monday, May 19th. Wells Fargo & Company reissued an "overweight" rating on shares of UnitedHealth Group in a research report on Friday, June 6th. Hsbc Global Res lowered shares of UnitedHealth Group from a "hold" rating to a "moderate sell" rating in a research note on Wednesday, May 21st. Finally, Piper Sandler lowered their price objective on UnitedHealth Group from $552.00 to $353.00 and set an "overweight" rating for the company in a research note on Tuesday, June 3rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $426.52.

Insider Activity at UnitedHealth Group

In other UnitedHealth Group news, Director Kristen Gil purchased 3,700 shares of the firm's stock in a transaction on 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 completion of the transaction, the director now owns 3,818 shares in the company, valued at $1,035,327.06. This represents a 3,135.59% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stephen J. Hemsley acquired 86,700 shares of UnitedHealth Group stock in a transaction dated Friday, May 16th. The shares were bought at an average cost of $288.57 per share, with a total value 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 approximately $196,081,295.01. This represents a 14.63% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 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 Stock Performance

UNH stock opened at $309.14 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.85 and a current ratio of 0.85. UnitedHealth Group Incorporated has a 1 year low of $248.88 and a 1 year high of $630.73. The stock's fifty day moving average is $376.32 and its two-hundred day moving average is $469.08. The stock has a market capitalization of $280.43 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 1.44 and a beta of 0.44.

UnitedHealth Group (NYSE:UNH - Get Free Report) last announced 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). 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 quarter in the previous year, the business posted $6.91 EPS. On average, research analysts predict that UnitedHealth Group Incorporated will post 29.54 EPS for the current year.

UnitedHealth Group Increases Dividend

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

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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