DnB Asset Management AS Boosts Stake in UnitedHealth Group Incorporated (NYSE:UNH)

DnB Asset Management AS increased its position in UnitedHealth Group Incorporated (NYSE:UNH) by 2.6% in the second quarter, HoldingsChannel.com reports. The fund owned 275,303 shares of the healthcare conglomerate’s stock after buying an additional 7,074 shares during the period. UnitedHealth Group comprises approximately 0.8% of DnB Asset Management AS’s investment portfolio, making the stock its 22nd biggest holding. DnB Asset Management AS’s holdings in UnitedHealth Group were worth $132,322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of UNH. Chelsea Counsel Co. purchased a new stake in UnitedHealth Group in the fourth quarter valued at $27,000. 25 LLC purchased a new stake in shares of UnitedHealth Group in the first quarter worth about $28,000. Cascade Investment Advisors Inc. purchased a new position in UnitedHealth Group during the first quarter valued at approximately $28,000. Freedom Wealth Alliance LLC acquired a new stake in shares of UnitedHealth Group during the 4th quarter worth approximately $31,000. Finally, Kalos Management Inc. acquired a new position in shares of UnitedHealth Group in the 1st quarter valued at $34,000. 85.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Andrew Witty sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $506.19, for a total value of $2,024,760.00. Following the transaction, the chief executive officer now directly owns 78,573 shares in the company, valued at approximately $39,772,866.87. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.35% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. HSBC initiated coverage on UnitedHealth Group in a research report on Wednesday, September 6th. They set a “hold” rating and a $540.00 target price on the stock. UBS Group boosted their price objective on UnitedHealth Group from $510.00 to $520.00 and gave the company a “neutral” rating in a research report on Wednesday, July 19th. Cantor Fitzgerald reissued an “overweight” rating and issued a $591.00 price target on shares of UnitedHealth Group in a research note on Thursday. Mizuho decreased their price objective on shares of UnitedHealth Group from $600.00 to $549.00 in a report on Tuesday, July 11th. Finally, Piper Sandler assumed coverage on shares of UnitedHealth Group in a research report on Thursday, May 25th. They set an “overweight” rating and a $580.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $575.65.

UnitedHealth Group Stock Up 0.8 %

NYSE UNH opened at $483.60 on Friday. UnitedHealth Group Incorporated has a 52 week low of $445.68 and a 52 week high of $558.10. The firm has a market cap of $447.96 billion, a PE ratio of 21.64, a P/E/G ratio of 1.41 and a beta of 0.66. The business’s fifty day simple moving average is $491.26 and its 200-day simple moving average is $486.57. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.68.

UnitedHealth Group (NYSE:UNH) last announced its quarterly earnings results on Friday, July 14th. The healthcare conglomerate reported $6.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.92 by $0.22. The business had revenue of $92.90 billion during the quarter, compared to the consensus estimate of $90.97 billion. UnitedHealth Group had a net margin of 6.06% and a return on equity of 26.72%. The business’s revenue was up 15.6% compared to the same quarter last year. During the same quarter last year, the firm earned $5.57 EPS. As a group, equities analysts anticipate that UnitedHealth Group Incorporated will post 24.83 earnings per share for the current year.

UnitedHealth Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Monday, September 11th will be issued a $1.88 dividend. The ex-dividend date of this dividend is Friday, September 8th. This represents a $7.52 annualized dividend and a yield of 1.56%. UnitedHealth Group’s dividend payout ratio (DPR) is currently 33.65%.

UnitedHealth Group Company Profile

UnitedHealth Group Incorporated operates as a diversified health care company in the United States. It 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.