UnitedHealth Group Incorporated $UNH Shares Sold by Canoe Financial LP

Key Points

• Canoe Financial LP reduced its investment in UnitedHealth Group by 26.8%, selling 150,740 shares and now holding 412,019 shares valued at approximately $128.5 million.
• Analysts have varied outlooks on UnitedHealth Group, with Bank of America raising its price target to $325, while other firms like Wells Fargo and Baird R W have issued different ratings and targets.
• The company announced a quarterly dividend of $2.21 per share, representing an annualized dividend of $8.84 and a yield of 2.6%, set to be paid to shareholders on September 23rd.

Canoe Financial LP trimmed its position in shares of UnitedHealth Group Incorporated (NYSE:UNH - Free Report) by 26.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 412,019 shares of the healthcare conglomerate's stock after selling 150,740 shares during the period. UnitedHealth Group makes up 1.8% of Canoe Financial LP's portfolio, making the stock its 20th biggest position. Canoe Financial LP's holdings in UnitedHealth Group were worth $128,538,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Bayforest Capital Ltd grew its holdings in UnitedHealth Group by 685.7% during the 1st quarter. Bayforest Capital Ltd now owns 55 shares of the healthcare conglomerate's stock valued at $29,000 after purchasing an additional 48 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd grew its holdings in UnitedHealth Group by 416.7% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 62 shares of the healthcare conglomerate's stock worth $32,000 after acquiring an additional 50 shares in the last quarter. IAG Wealth Partners LLC acquired a new position in UnitedHealth Group during the 1st quarter worth $42,000. Copia Wealth Management acquired a new position in UnitedHealth Group during the 4th quarter worth $42,000. Finally, O Brien Wealth Partners LLC grew its holdings in UnitedHealth Group by 74.0% during the 1st quarter. O Brien Wealth Partners LLC now owns 87 shares of the healthcare conglomerate's stock worth $46,000 after acquiring an additional 37 shares in the last quarter. 87.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on UNH. Bank of America raised their price objective on shares of UnitedHealth Group from $290.00 to $325.00 and gave the stock a "neutral" rating in a report on Monday, August 18th. Barclays raised their price target on shares of UnitedHealth Group from $337.00 to $352.00 and gave the stock an "overweight" rating in a research report on Thursday, September 4th. Wells Fargo & Company reduced their price target on shares of UnitedHealth Group from $306.00 to $267.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. Baird R W downgraded shares of UnitedHealth Group from a "hold" rating to a "strong sell" rating in a research report on Thursday, July 31st. Finally, Oppenheimer reduced their price target on shares of UnitedHealth Group from $400.00 to $325.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 30th. Sixteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, UnitedHealth Group has a consensus rating of "Moderate Buy" and a consensus price target of $358.95.

UnitedHealth Group Trading Down 2.0%

Shares of NYSE:UNH opened at $334.74 on Friday. The company has a market cap of $303.16 billion, a PE ratio of 14.50, a P/E/G ratio of 2.23 and a beta of 0.45. The company's 50-day moving average price is $295.01 and its 200 day moving average price is $366.14. UnitedHealth Group Incorporated has a fifty-two week low of $234.60 and a fifty-two week high of $630.73. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.73.

UnitedHealth Group (NYSE:UNH - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The healthcare conglomerate reported $4.08 earnings per share for the quarter, missing the consensus estimate 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 prior year, the business earned $6.80 earnings per share. The company's revenue for the quarter was up 12.9% compared to the same quarter last year. UnitedHealth Group has set its FY 2025 guidance at 16.000- EPS. Sell-side analysts anticipate that UnitedHealth Group Incorporated will post 29.54 earnings per share for the current year.

UnitedHealth Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Monday, September 15th will be issued a $2.21 dividend. This represents a $8.84 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Monday, September 15th. UnitedHealth Group's payout ratio is presently 38.30%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.