Canoe Financial LP grew its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH - Free Report) by 21.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 562,759 shares of the healthcare conglomerate's stock after acquiring an additional 100,659 shares during the quarter. UnitedHealth Group comprises about 4.7% of Canoe Financial LP's investment portfolio, making the stock its biggest holding. Canoe Financial LP owned 0.06% of UnitedHealth Group worth $294,745,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also recently made changes to their positions in the stock. Norges Bank bought a new stake in UnitedHealth Group during the 4th quarter worth approximately $6,375,744,000. GAMMA Investing LLC raised its stake in 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 worth $4,344,586,000 after acquiring an additional 8,280,404 shares during the period. Raymond James Financial Inc. bought a new stake in UnitedHealth Group during the 4th quarter worth approximately $1,914,740,000. Amundi raised its stake in UnitedHealth Group by 97.2% during the 4th quarter. Amundi now owns 6,069,100 shares of the healthcare conglomerate's stock worth $3,183,132,000 after acquiring an additional 2,991,470 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake 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 acquiring an additional 2,301,010 shares during the period. Hedge funds and other institutional investors own 87.86% of the company's stock.
Insider Buying and Selling
In related news, CEO Stephen J. Hemsley acquired 86,700 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were purchased at an average price of $288.57 per share, with a total value of $25,019,019.00. Following the completion of the acquisition, 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 purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Timothy Patrick Flynn bought 1,533 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were acquired at an average price of $320.80 per share, with a total value of $491,786.40. Following the transaction, the director now owns 6,033 shares of the company's stock, valued at $1,935,386.40. The trade was a 34.07% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 109,408 shares of company stock valued at $31,607,768. Corporate insiders own 0.28% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on UNH. JPMorgan Chase & Co. raised their target price on shares of UnitedHealth Group from $405.00 to $418.00 and gave the company an "overweight" rating in a report on Friday. Mizuho cut their target price on shares of UnitedHealth Group from $515.00 to $350.00 and set an "outperform" rating for the company in a report on Friday, May 16th. Raymond James Financial lowered shares of UnitedHealth Group from a "strong-buy" rating to a "market perform" rating in a report on Wednesday, May 14th. Robert W. Baird lowered shares of UnitedHealth Group from an "outperform" rating to a "neutral" rating and set a $312.00 target price for the company. in a report on Wednesday, June 11th. Finally, Wolfe Research dropped their price objective on shares of UnitedHealth Group from $501.00 to $390.00 and set an "outperform" rating for the company in a research note on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $427.09.
Get Our Latest Research Report on UnitedHealth Group
UnitedHealth Group Trading Down 1.7%
Shares of UnitedHealth Group stock opened at $302.04 on Friday. UnitedHealth Group Incorporated has a 1 year low of $248.88 and a 1 year high of $630.73. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $273.99 billion, a P/E ratio of 12.65, a PEG ratio of 1.44 and a beta of 0.44. The company's fifty day moving average is $359.15 and its two-hundred day moving average is $463.79.
UnitedHealth Group (NYSE:UNH - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The healthcare conglomerate reported $7.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.29 by ($0.09). The business had revenue of $109.58 billion for the quarter, compared to analysts' expectations 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 previous year, the business posted $6.91 earnings per share. Analysts forecast that UnitedHealth Group Incorporated will post 29.54 earnings per share for the current year.
UnitedHealth Group Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 24th. Investors of record on Monday, June 16th will be issued a dividend of $2.21 per share. The ex-dividend date is Monday, June 16th. This represents a $8.84 dividend on an annualized basis and a yield of 2.93%. 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
(
Free Report)
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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