Rakuten Investment Management Inc. increased its holdings in shares of UnitedHealth Group Incorporated (NYSE:UNH – Free Report) by 10.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 148,509 shares of the healthcare conglomerate’s stock after purchasing an additional 14,074 shares during the quarter. Rakuten Investment Management Inc.’s holdings in UnitedHealth Group were worth $62,347,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of UNH. LFG Wealth Partners LLC grew its holdings in UnitedHealth Group by 3.3% in the second quarter. LFG Wealth Partners LLC now owns 853 shares of the healthcare conglomerate’s stock valued at $355,000 after purchasing an additional 27 shares during the period. Synergy Financial Group LTD boosted its holdings in shares of UnitedHealth Group by 3.1% in the 2nd quarter. Synergy Financial Group LTD now owns 887 shares of the healthcare conglomerate’s stock valued at $369,000 after purchasing an additional 27 shares during the last quarter. Ares Financial Consulting LLC increased its holdings in shares of UnitedHealth Group by 7.2% during the 2nd quarter. Ares Financial Consulting LLC now owns 419 shares of the healthcare conglomerate’s stock worth $174,000 after buying an additional 28 shares during the last quarter. Rockland Trust Co. boosted its holdings in UnitedHealth Group by 1.1% in the second quarter. Rockland Trust Co. now owns 2,589 shares of the healthcare conglomerate’s stock valued at $1,076,000 after acquiring an additional 29 shares during the last quarter. Finally, Matrix Trust Co grew its position in UnitedHealth Group by 24.8% during the second quarter. Matrix Trust Co now owns 146 shares of the healthcare conglomerate’s stock valued at $61,000 after acquiring an additional 29 shares during the period. 87.86% of the stock is currently owned by hedge funds and other institutional investors.
UnitedHealth Group Stock Performance
Shares of UNH opened at $393.99 on Friday. UnitedHealth Group Incorporated has a 52-week low of $255.96 and a 52-week high of $461.62. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.66. The firm has a market cap of $353.64 billion, a price-to-earnings ratio of 25.35, a PEG ratio of 1.36 and a beta of 0.62. The business’s 50 day moving average is $413.28 and its two-hundred day moving average is $360.11.
UnitedHealth Group Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Monday, September 14th will be paid a $2.32 dividend. This represents a $9.28 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Monday, September 14th. UnitedHealth Group’s dividend payout ratio (DPR) is 59.72%.
Insider Transactions at UnitedHealth Group
In other UnitedHealth Group news, CEO Patrick Hugh Conway sold 1,169 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $390.00, for a total transaction of $455,910.00. Following the sale, the chief executive officer owned 15,328 shares in the company, valued at $5,977,920. This represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.19% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on UNH shares. Zacks Research raised UnitedHealth Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 13th. HSBC raised their price target on shares of UnitedHealth Group from $300.00 to $380.00 and gave the company a “hold” rating in a report on Monday, July 6th. Mizuho increased their price objective on shares of UnitedHealth Group from $470.00 to $493.00 and gave the stock an “outperform” rating in a research report on Monday, July 20th. Truist Financial upped their price target on UnitedHealth Group from $440.00 to $480.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of UnitedHealth Group in a research note on Tuesday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $456.56.
Check Out Our Latest Stock Report on UNH
UnitedHealth Group Company 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.
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