UnitedHealth Group Incorporated $UNH Shares Purchased by Bowie Capital Management LLC

Key Points

• Bowie Capital Management LLC increased its stake in UnitedHealth Group shares by 14.4%, now holding 240,451 shares valued at approximately $125.9 million.
• The healthcare conglomerate's quarterly earnings fell short of analysts' expectations, reporting $4.08 EPS versus a consensus estimate of $4.45.
• UnitedHealth Group declared a $2.21 quarterly dividend, with a record date of September 15th, representing an annual yield of 2.9%.

Bowie Capital Management LLC increased its position in shares of UnitedHealth Group Incorporated (NYSE:UNH - Free Report) by 14.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 240,451 shares of the healthcare conglomerate's stock after acquiring an additional 30,286 shares during the period. UnitedHealth Group comprises 5.9% of Bowie Capital Management LLC's investment portfolio, making the stock its 5th biggest position. Bowie Capital Management LLC's holdings in UnitedHealth Group were worth $125,936,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of UNH. Brighton Jones LLC grew its position in shares of UnitedHealth Group by 176.2% in the fourth quarter. Brighton Jones LLC now owns 44,249 shares of the healthcare conglomerate's stock valued at $22,384,000 after purchasing an additional 28,231 shares during the period. Revolve Wealth Partners LLC grew its holdings in UnitedHealth Group by 137.1% in the 4th quarter. Revolve Wealth Partners LLC now owns 4,019 shares of the healthcare conglomerate's stock worth $2,033,000 after buying an additional 2,324 shares in the last quarter. Jump Financial LLC bought a new position in UnitedHealth Group during the 4th quarter valued at $1,321,000. Alpha DNA Investment Management LLC lifted its holdings in shares of UnitedHealth Group by 3.4% in the fourth quarter. Alpha DNA Investment Management LLC now owns 3,411 shares of the healthcare conglomerate's stock valued at $1,725,000 after purchasing an additional 111 shares in the last quarter. Finally, Allred Capital Management LLC increased its stake in shares of UnitedHealth Group by 1.5% in the fourth quarter. Allred Capital Management LLC now owns 2,648 shares of the healthcare conglomerate's stock worth $1,340,000 after acquiring an additional 40 shares during the last quarter. Institutional investors and hedge funds own 87.86% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Erste Group Bank downgraded UnitedHealth Group from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Morgan Stanley lowered their target price on shares of UnitedHealth Group from $563.00 to $374.00 and set an "overweight" rating for the company in a report on Wednesday, May 14th. Oppenheimer reduced their target price on shares of UnitedHealth Group from $400.00 to $325.00 and set an "outperform" rating for the company in a research note on Wednesday, July 30th. Truist Financial reduced their price objective on shares of UnitedHealth Group from $360.00 to $345.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Finally, Barclays reissued an "overweight" rating on shares of UnitedHealth Group in a report on Thursday, July 17th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $366.52.

UnitedHealth Group Stock Performance

NYSE:UNH traded up $32.53 during midday trading on Friday, hitting $304.02. The company's stock had a trading volume of 67,934,484 shares, compared to its average volume of 21,947,932. The firm has a market cap of $275.34 billion, a P/E ratio of 13.17, a P/E/G ratio of 1.96 and a beta of 0.43. UnitedHealth Group Incorporated has a fifty-two week low of $234.60 and a fifty-two week high of $630.73. The firm's 50 day moving average is $288.91 and its 200-day moving average is $395.81. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.85 and a quick ratio of 0.85.

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

UnitedHealth Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Monday, September 15th will be issued a dividend of $2.21 per share. This represents a $8.84 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Monday, September 15th. UnitedHealth Group's payout ratio is currently 38.30%.

Insider Activity at UnitedHealth Group

In related news, CEO Patrick Hugh Conway sold 589 shares of the business's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $305.00, for a total value of $179,645.00. Following the sale, the chief executive officer directly owned 10,398 shares in the company, valued at approximately $3,171,390. The trade was a 5.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.28% of the stock is currently owned by corporate insiders.

About UnitedHealth Group

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.