Canandaigua National Bank & Trust Co. purchased a new stake in UnitedHealth Group Incorporated (NYSE:UNH – Free Report) in the 2nd quarter, Holdings Channel reports. The fund purchased 1,695 shares of the healthcare conglomerate’s stock, valued at approximately $704,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sarver Vrooman Wealth Advisors acquired a new position in UnitedHealth Group during the fourth quarter worth about $25,000. Anfield Capital Management LLC grew its holdings in UnitedHealth Group by 220.0% during the 4th quarter. Anfield Capital Management LLC now owns 80 shares of the healthcare conglomerate’s stock valued at $26,000 after buying an additional 55 shares during the last quarter. Joseph Group Capital Management purchased a new stake in shares of UnitedHealth Group in the fourth quarter valued at $27,000. Nalls Sherbakoff Group LLC acquired a new position in UnitedHealth Group in the 4th quarter valued at about $27,000. Finally, Lifetime Wealth Management P.C. purchased a new stake in shares of UnitedHealth Group during the fourth quarter worth about $29,000. Institutional investors and hedge funds own 87.86% of the company’s stock.
UnitedHealth Group Stock Up 1.4%
Shares of NYSE:UNH opened at $413.12 on Thursday. The company has a 50 day moving average of $413.12 and a two-hundred day moving average of $349.93. The company has a market capitalization of $375.17 billion, a price-to-earnings ratio of 26.58, a price-to-earnings-growth ratio of 1.42 and a beta of 0.62. UnitedHealth Group Incorporated has a 52-week low of $239.50 and a 52-week high of $461.62. The company has a quick ratio of 0.80, a current ratio of 0.78 and a debt-to-equity ratio of 0.66.
UnitedHealth Group Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Monday, June 15th were given a $2.32 dividend. This represents a $9.28 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Monday, June 15th. This is an increase from UnitedHealth Group’s previous quarterly dividend of $2.21. UnitedHealth Group’s payout ratio is presently 59.72%.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on UNH. Sanford C. Bernstein reissued an “outperform” rating on shares of UnitedHealth Group in a research note on Tuesday, July 21st. DA Davidson set a $512.00 price target on UnitedHealth Group in a research note on Tuesday, July 21st. Leerink Partners increased their price objective on shares of UnitedHealth Group from $400.00 to $462.00 and gave the stock an “outperform” rating in a report on Wednesday, June 17th. BMO Capital Markets set a $512.00 price target on shares of UnitedHealth Group in a research note on Tuesday, July 21st. Finally, TD Cowen lifted their target price on UnitedHealth Group from $337.00 to $430.00 and gave the company a “hold” rating in a report on Tuesday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $455.92.
Read Our Latest Analysis on UnitedHealth Group
UnitedHealth Group Profile
UnitedHealth Group Inc is a diversified health care company headquartered in Minnetonka, Minnesota, that operates two primary business platforms: UnitedHealthcare and Optum. Founded in 1977, the company provides a broad range of health benefits and health care services to individuals, employers, governmental entities and other organizations. Its operations span commercial employer-sponsored plans, individual and Medicare and Medicaid programs, and services for customers and health systems in the United States and selected international markets.
UnitedHealthcare is the company’s benefits business, administering health plans and networks, managing provider relationships, and offering coverage products for employers, individuals, and government-sponsored programs.
Featured Stories
- Five stocks we like better than UnitedHealth Group
- SpaceX: Love the Company, But the Stock Is a Harder Call
- Ulta’s Growth Is Real, But So Are the Risks
- BWX Technologies Is Turning the AI Power Problem Into a Nuclear Growth Story
- Meta’s Earnings Drop Shows Wall Street Wants More Than Ad Growth
Want to see what other hedge funds are holding UNH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for UnitedHealth Group Incorporated (NYSE:UNH – Free Report).
Receive News & Ratings for UnitedHealth Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UnitedHealth Group and related companies with MarketBeat.com's FREE daily email newsletter.
