SteelPeak Wealth LLC Acquires 23,081 Shares of UnitedHealth Group Incorporated $UNH

SteelPeak Wealth LLC boosted its stake in UnitedHealth Group Incorporated (NYSE:UNH) by 229.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,151 shares of the healthcare conglomerate’s stock after purchasing an additional 23,081 shares during the period. SteelPeak Wealth LLC’s holdings in UnitedHealth Group were worth $11,447,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. LFA Lugano Financial Advisors SA acquired a new stake in UnitedHealth Group during the 2nd quarter valued at approximately $25,000. Bayforest Capital Ltd increased its position in shares of UnitedHealth Group by 685.7% during the first quarter. Bayforest Capital Ltd now owns 55 shares of the healthcare conglomerate’s stock worth $29,000 after buying an additional 48 shares during the period. Sagard Holdings Management Inc. bought a new stake in UnitedHealth Group during the second quarter valued at $29,000. Islay Capital Management LLC bought a new position in shares of UnitedHealth Group in the 2nd quarter worth about $31,000. Finally, Riggs Asset Managment Co. Inc. boosted its position in shares of UnitedHealth Group by 69.4% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 105 shares of the healthcare conglomerate’s stock valued at $33,000 after purchasing an additional 43 shares in the last quarter. 87.86% of the stock is currently owned by institutional investors.

UnitedHealth Group Stock Performance

Shares of UNH opened at $330.32 on Friday. The firm has a market capitalization of $299.22 billion, a P/E ratio of 17.24, a P/E/G ratio of 2.15 and a beta of 0.43. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.82 and a current ratio of 0.82. UnitedHealth Group Incorporated has a 52 week low of $234.60 and a 52 week high of $606.36. The stock has a 50 day moving average price of $331.11 and a two-hundred day moving average price of $319.52.

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

UnitedHealth Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 16th. Shareholders of record on Monday, December 8th were paid a $2.21 dividend. The ex-dividend date was Monday, December 8th. This represents a $8.84 annualized dividend and a yield of 2.7%. UnitedHealth Group’s dividend payout ratio (DPR) is 46.14%.

Analyst Upgrades and Downgrades

UNH has been the topic of several recent analyst reports. The Goldman Sachs Group started coverage on UnitedHealth Group in a research note on Tuesday, October 14th. They issued a “buy” rating and a $406.00 price target on the stock. Zacks Research raised shares of UnitedHealth Group from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Morgan Stanley upped their price objective on shares of UnitedHealth Group from $325.00 to $395.00 and gave the company an “overweight” rating in a report on Friday, September 12th. Piper Sandler reduced their target price on UnitedHealth Group from $423.00 to $417.00 and set an “overweight” rating for the company in a research note on Tuesday, October 28th. Finally, Truist Financial raised their price objective on UnitedHealth Group from $310.00 to $365.00 and gave the company a “buy” rating in a research note on Tuesday, September 9th. Seventeen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $385.54.

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.