Cary Street Partners Financial LLC Increases Position in UnitedHealth Group Incorporated $UNH

Cary Street Partners Financial LLC lifted its stake in UnitedHealth Group Incorporated (NYSE:UNH) by 95.2% during the second quarter, HoldingsChannel.com reports. The firm owned 13,653 shares of the healthcare conglomerate’s stock after purchasing an additional 6,657 shares during the quarter. Cary Street Partners Financial LLC’s holdings in UnitedHealth Group were worth $4,259,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in shares of UnitedHealth Group by 10.6% during the first quarter. Wellington Management Group LLP now owns 25,847,940 shares of the healthcare conglomerate’s stock valued at $13,537,859,000 after acquiring an additional 2,486,839 shares in the last quarter. Geode Capital Management LLC increased its stake in UnitedHealth Group by 3.3% during the 2nd quarter. Geode Capital Management LLC now owns 21,312,182 shares of the healthcare conglomerate’s stock valued at $6,624,411,000 after purchasing an additional 675,075 shares in the last quarter. Norges Bank purchased a new position in UnitedHealth Group in the second quarter worth about $3,837,207,000. Dodge & Cox grew its holdings in shares of UnitedHealth Group by 117.7% during the second quarter. Dodge & Cox now owns 8,750,560 shares of the healthcare conglomerate’s stock valued at $2,729,912,000 after buying an additional 4,730,192 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in UnitedHealth Group by 6.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 7,502,469 shares of the healthcare conglomerate’s stock worth $2,340,346,000 after acquiring an additional 432,084 shares during the last quarter. 87.86% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on UNH shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $440.00 target price on shares of UnitedHealth Group in a report on Tuesday, August 26th. Bank of America boosted their target price on UnitedHealth Group from $350.00 to $390.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 8th. KeyCorp raised their price target on shares of UnitedHealth Group from $350.00 to $400.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Sanford C. Bernstein increased their price objective on shares of UnitedHealth Group from $433.00 to $440.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Finally, Truist Financial lifted their target price on shares of UnitedHealth Group from $310.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, September 9th. Seventeen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $385.54.

UnitedHealth Group Stock Down 0.9%

Shares of UNH stock opened at $330.61 on Monday. The company has a 50 day simple moving average of $341.79 and a two-hundred day simple moving average of $315.98. The stock has a market cap of $299.48 billion, a P/E ratio of 17.26, a P/E/G ratio of 2.16 and a beta of 0.43. UnitedHealth Group Incorporated has a 12 month low of $234.60 and a 12 month high of $606.36. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.71.

UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings data on Tuesday, October 28th. The healthcare conglomerate reported $2.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.87 by $0.05. The firm had revenue of $113.16 billion during the quarter, compared to the consensus estimate of $113.19 billion. UnitedHealth Group had a net margin of 4.04% and a return on equity of 19.23%. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $7.15 EPS. On average, research analysts expect that UnitedHealth Group Incorporated will post 29.54 earnings per share for the current year.

UnitedHealth Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Investors of record on Monday, December 8th will be issued a $2.21 dividend. This represents a $8.84 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Monday, December 8th. UnitedHealth Group’s dividend payout ratio is currently 46.14%.

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.