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Handelsinvest Investeringsforvaltning Reduces Stake in UnitedHealth Group Incorporated (NYSE:UNH)

Financial News Live · Jan 25, 2023 17:20

Handelsinvest Investeringsforvaltning lowered its holdings in UnitedHealth Group Incorporated (NYSE:UNH – Get Rating) by 2.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 9,747 shares of the healthcare conglomerate's stock after selling 242 shares during the quarter. Handelsinvest Investeringsforvaltning's holdings in UnitedHealth Group were worth $4,923,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. TimeScale Financial Inc. grew its stake in shares of UnitedHealth Group by 276.9% in the 3rd quarter. TimeScale Financial Inc. now owns 49 shares of the healthcare conglomerate's stock valued at $25,000 after purchasing an additional 36 shares during the last quarter. Pflug Koory LLC raised its holdings in UnitedHealth Group by 160.0% during the third quarter. Pflug Koory LLC now owns 52 shares of the healthcare conglomerate's stock worth $26,000 after purchasing an additional 32 shares during the last quarter. Urban Wealth Management LLC acquired a new position in UnitedHealth Group during the second quarter worth $29,000. Knott David M Jr acquired a new position in UnitedHealth Group during the second quarter worth $29,000. Finally, Belmont Capital LLC raised its holdings in shares of UnitedHealth Group by 294.1% in the third quarter. Belmont Capital LLC now owns 67 shares of the healthcare conglomerate's stock worth $34,000 after acquiring an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 86.31% of the company's stock.

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UnitedHealth Group Stock Performance

Shares of NYSE UNH opened at $492.25 on Wednesday. The stock has a fifty day moving average price of $518.45 and a two-hundred day moving average price of $524.08. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.82 and a current ratio of 0.77. The firm has a market cap of $459.93 billion, a P/E ratio of 23.20, a PEG ratio of 1.36 and a beta of 0.73. UnitedHealth Group Incorporated has a 1 year low of $445.73 and a 1 year high of $558.10.

UnitedHealth Group (NYSE:UNH – Get Rating) last announced its quarterly earnings data on Friday, January 13th. The healthcare conglomerate reported $5.34 EPS for the quarter, beating analysts' consensus estimates of $5.17 by $0.17. UnitedHealth Group had a return on equity of 27.04% and a net margin of 6.21%. The company had revenue of $82.79 billion during the quarter, compared to the consensus estimate of $82.53 billion. During the same quarter in the prior year, the firm earned $4.48 EPS. The company's quarterly revenue was up 12.3% compared to the same quarter last year. Research analysts forecast that UnitedHealth Group Incorporated will post 24.9 EPS for the current fiscal year.

UnitedHealth Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 13th. Stockholders of record on Monday, December 5th were issued a $1.65 dividend. The ex-dividend date was Friday, December 2nd. This represents a $6.60 dividend on an annualized basis and a dividend yield of 1.34%. UnitedHealth Group's payout ratio is currently 31.15%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on UNH shares. Morgan Stanley reissued an "overweight" rating and issued a $587.00 price target on shares of UnitedHealth Group in a report on Wednesday, November 23rd. UBS Group lowered their price objective on UnitedHealth Group from $590.00 to $550.00 and set a "neutral" rating for the company in a research report on Wednesday, January 18th. Raymond James downgraded UnitedHealth Group from a "strong-buy" rating to an "outperform" rating and set a $615.00 price objective for the company. in a research report on Monday, November 21st. Credit Suisse Group boosted their price target on UnitedHealth Group from $590.00 to $610.00 and gave the company an "outperform" rating in a research report on Wednesday, December 7th. Finally, StockNews.com started coverage on UnitedHealth Group in a research report on Wednesday, October 12th. They set a "strong-buy" rating for the company. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, UnitedHealth Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $599.39.

Insider Activity

In other news, EVP Erin Mcsweeney sold 450 shares of the company's stock in a transaction on Wednesday, December 7th. The shares were sold at an average price of $542.30, for a total value of $244,035.00. Following the transaction, the executive vice president now directly owns 8,736 shares of the company's stock, valued at $4,737,532.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.40% of the company's stock.

About UnitedHealth Group

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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 well-being services to individuals age 50 and older addressing their needs for preventive and acute health care services, as well as services dealing with chronic disease and other specialized issues for older individuals; Medicaid plans, children's health insurance and health care programs; health and dental benefits; and hospital and clinical services.