UnitedHealth Group Incorporated (NYSE:UNH) Stake Raised by Bank of Nova Scotia

Key Points

• Bank of Nova Scotia has increased its stake in UnitedHealth Group by 35.2%, now owning approximately $449.99 million worth of shares, making it the company's 17th largest position.
• UnitedHealth Group recently announced a quarterly dividend hike to $2.21, reflecting an annualized yield of 3.7%, up from the previous dividend of $2.10.
• The company's latest earnings report indicated a revenue of $111.62 billion but missed analysts' expectations for earnings per share (EPS) by $0.37.

Bank of Nova Scotia increased its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH - Free Report) by 35.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 859,187 shares of the healthcare conglomerate's stock after purchasing an additional 223,732 shares during the quarter. UnitedHealth Group makes up approximately 1.1% of Bank of Nova Scotia's portfolio, making the stock its 17th largest position. Bank of Nova Scotia owned about 0.09% of UnitedHealth Group worth $449,989,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in UnitedHealth Group by 176.2% in the fourth quarter. Brighton Jones LLC now owns 44,249 shares of the healthcare conglomerate's stock worth $22,384,000 after buying an additional 28,231 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of UnitedHealth Group by 137.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 4,019 shares of the healthcare conglomerate's stock valued at $2,033,000 after purchasing an additional 2,324 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in UnitedHealth Group by 3.9% in 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 in the last quarter. Bryce Point Capital LLC bought a new position in UnitedHealth Group during the fourth quarter valued at about $475,000. Finally, Yoffe Investment Management LLC bought a new stake in shares of UnitedHealth Group during the 4th quarter worth about $1,232,000. 87.86% of the stock is owned by hedge funds and other institutional investors.

UnitedHealth Group Trading Down 4.9%

UNH opened at $237.40 on Friday. UnitedHealth Group Incorporated has a 1-year low of $234.60 and a 1-year high of $630.73. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.73. The firm has a 50-day moving average price of $296.86 and a two-hundred day moving average price of $416.24. The stock has a market capitalization of $215.36 billion, a PE ratio of 10.29, a PEG ratio of 1.56 and a beta of 0.43.

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

UnitedHealth Group Increases Dividend

The firm also recently disclosed 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 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 yield of 3.7%. UnitedHealth Group's payout ratio is 38.30%.

Analyst Ratings Changes

Several research firms recently issued reports on UNH. Royal Bank Of Canada decreased their price objective on shares of UnitedHealth Group from $355.00 to $286.00 and set an "outperform" rating for the company in a report on Wednesday. Baird R W lowered UnitedHealth Group from a "hold" rating to a "strong sell" rating in a research note on Thursday. Hsbc Global Res downgraded UnitedHealth Group from a "hold" rating to a "moderate sell" rating in a research note on Wednesday, May 21st. Raymond James Financial lowered UnitedHealth Group from a "strong-buy" rating to a "market perform" rating in a research note on Wednesday, May 14th. Finally, JPMorgan Chase & Co. lifted their price target on shares of UnitedHealth Group from $405.00 to $418.00 and gave the stock an "overweight" rating in a research note on Friday, June 20th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, UnitedHealth Group has a consensus rating of "Hold" and an average target price of $373.52.

Insider Activity

In related news, Director Timothy Patrick Flynn bought 1,533 shares of UnitedHealth Group stock in a transaction on Wednesday, May 14th. The shares were purchased at an average price of $320.80 per share, for a total transaction of $491,786.40. Following the completion of the acquisition, the director owned 6,033 shares in the company, valued at approximately $1,935,386.40. This represents a 34.07% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO John F. Rex purchased 17,175 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was purchased at an average price of $291.12 per share, for a total transaction of $4,999,986.00. Following the completion of the transaction, the chief financial officer directly owned 203,796 shares in the company, valued at $59,329,091.52. This trade represents a 9.20% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 109,408 shares of company stock worth $31,607,768. Corporate insiders own 0.28% of the company's stock.

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.

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