Power Corp of Canada Makes New $229,000 Investment in UnitedHealth Group Incorporated (NYSE:UNH)

Power Corp of Canada purchased a new position in shares of UnitedHealth Group Incorporated (NYSE:UNH – Get Rating) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 453 shares of the healthcare conglomerate’s stock, valued at approximately $229,000.

Several other institutional investors also recently added to or reduced their stakes in UNH. CoreCap Advisors LLC increased its holdings in shares of UnitedHealth Group by 0.5% in the second quarter. CoreCap Advisors LLC now owns 4,217 shares of the healthcare conglomerate’s stock valued at $2,166,000 after purchasing an additional 19 shares during the period. Elgethun Capital Management increased its holdings in shares of UnitedHealth Group by 0.3% in the second quarter. Elgethun Capital Management now owns 6,577 shares of the healthcare conglomerate’s stock valued at $3,369,000 after purchasing an additional 19 shares during the period. Hollencrest Capital Management increased its holdings in shares of UnitedHealth Group by 0.8% in the third quarter. Hollencrest Capital Management now owns 2,337 shares of the healthcare conglomerate’s stock valued at $1,180,000 after purchasing an additional 19 shares during the period. Smith Salley & Associates increased its holdings in shares of UnitedHealth Group by 0.7% in the third quarter. Smith Salley & Associates now owns 2,873 shares of the healthcare conglomerate’s stock valued at $1,451,000 after purchasing an additional 19 shares during the period. Finally, Eldridge Investment Advisors Inc. increased its holdings in shares of UnitedHealth Group by 5.0% in the second quarter. Eldridge Investment Advisors Inc. now owns 420 shares of the healthcare conglomerate’s stock valued at $216,000 after purchasing an additional 20 shares during the period. Institutional investors and hedge funds own 86.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on UNH. Deutsche Bank Aktiengesellschaft upped their price objective on UnitedHealth Group from $615.00 to $617.00 and gave the stock a “buy” rating in a report on Tuesday, January 24th. Raymond James lowered UnitedHealth Group from a “strong-buy” rating to an “outperform” rating and set a $615.00 price objective on the stock. in a report on Monday, November 21st. UBS Group dropped their price objective on UnitedHealth Group from $590.00 to $550.00 and set a “neutral” rating on the stock in a report on Wednesday, January 18th. StockNews.com raised UnitedHealth Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 11th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $587.00 target price on shares of UnitedHealth Group in a research report on Wednesday, November 23rd. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $599.68.

UnitedHealth Group Stock Up 0.2 %

Shares of NYSE:UNH opened at $465.43 on Thursday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.67. UnitedHealth Group Incorporated has a 52-week low of $449.70 and a 52-week high of $558.10. The stock’s fifty day simple moving average is $484.03 and its 200-day simple moving average is $511.47. The company has a market capitalization of $434.18 billion, a P/E ratio of 21.96, a P/E/G ratio of 1.29 and a beta of 0.69.

UnitedHealth Group (NYSE:UNH – Get Rating) last released its earnings results on Friday, January 13th. The healthcare conglomerate reported $5.34 EPS for the quarter, beating the consensus estimate of $5.17 by $0.17. The firm had revenue of $82.79 billion during the quarter, compared to analyst estimates of $82.53 billion. UnitedHealth Group had a return on equity of 27.04% and a net margin of 6.21%. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.48 earnings per share. As a group, equities research analysts forecast that UnitedHealth Group Incorporated will post 24.91 earnings per share for the current fiscal year.

UnitedHealth Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 21st. Investors of record on Monday, March 13th will be paid a $1.65 dividend. The ex-dividend date is Friday, March 10th. This represents a $6.60 annualized dividend and a yield of 1.42%. UnitedHealth Group’s payout ratio is currently 31.15%.

UnitedHealth Group Profile

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UnitedHealth Group, Inc engages in the provision of health care coverage, software, and data consultancy services. It operates through the following segments: UnitedHealthcare, OptumHealth, OptumInsight, and OptumRx. The UnitedHealthcare segment utilizes Optum’s capabilities to help coordinate patient care, improve affordability of medical care, analyze cost trends, manage pharmacy benefits, work with care providers more effectively, and create a simpler consumer experience.