Longbow Finance SA Invests $13.31 Million in UnitedHealth Group Incorporated (NYSE:UNH)

Longbow Finance SA bought a new position in shares of UnitedHealth Group Incorporated (NYSE:UNH) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 26,895 shares of the healthcare conglomerate’s stock, valued at approximately $13,305,000. UnitedHealth Group makes up 1.3% of Longbow Finance SA’s holdings, making the stock its 19th biggest holding.

Other institutional investors have also added to or reduced their stakes in the company. Richelieu Gestion SA acquired a new stake in UnitedHealth Group during the fourth quarter worth about $26,000. CGC Financial Services LLC boosted its holdings in UnitedHealth Group by 1,000.0% during the fourth quarter. CGC Financial Services LLC now owns 55 shares of the healthcare conglomerate’s stock valued at $29,000 after purchasing an additional 50 shares in the last quarter. True Wealth Design LLC acquired a new stake in UnitedHealth Group during the fourth quarter valued at approximately $31,000. LFA Lugano Financial Advisors SA boosted its holdings in UnitedHealth Group by 148.1% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 67 shares of the healthcare conglomerate’s stock valued at $35,000 after purchasing an additional 40 shares in the last quarter. Finally, Red Tortoise LLC boosted its holdings in UnitedHealth Group by 45.1% during the first quarter. Red Tortoise LLC now owns 74 shares of the healthcare conglomerate’s stock valued at $36,000 after purchasing an additional 23 shares in the last quarter. 87.86% of the stock is owned by institutional investors and hedge funds.

UnitedHealth Group Stock Down 0.4 %

NYSE UNH traded down $1.88 on Friday, reaching $488.01. The company had a trading volume of 3,230,423 shares, compared to its average volume of 4,269,000. The firm has a market capitalization of $449.16 billion, a price-to-earnings ratio of 29.94, a price-to-earnings-growth ratio of 1.44 and a beta of 0.60. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.85 and a current ratio of 0.85. UnitedHealth Group Incorporated has a 1-year low of $436.38 and a 1-year high of $554.70. The company’s fifty day moving average is $498.61 and its 200-day moving average is $500.96.

UnitedHealth Group (NYSE:UNH) last posted its quarterly earnings data on Tuesday, April 16th. The healthcare conglomerate reported $6.91 EPS for the quarter, topping analysts’ consensus estimates of $6.63 by $0.28. UnitedHealth Group had a net margin of 4.05% and a return on equity of 26.50%. The company had revenue of $99.80 billion during the quarter, compared to the consensus estimate of $99.23 billion. During the same period in the prior year, the business posted $6.26 EPS. The company’s quarterly revenue was up 8.6% on a year-over-year basis. On average, research analysts forecast that UnitedHealth Group Incorporated will post 27.55 earnings per share for the current fiscal year.

UnitedHealth Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Monday, June 17th were issued a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 1.72%. This is a boost from UnitedHealth Group’s previous quarterly dividend of $1.88. The ex-dividend date of this dividend was Monday, June 17th. UnitedHealth Group’s dividend payout ratio is presently 51.34%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on UNH shares. Bank of America reaffirmed a “buy” rating and set a $675.00 price objective on shares of UnitedHealth Group in a report on Thursday, March 7th. Erste Group Bank restated a “hold” rating on shares of UnitedHealth Group in a research report on Wednesday, March 13th. Royal Bank of Canada dropped their price objective on shares of UnitedHealth Group from $596.00 to $555.00 and set an “outperform” rating for the company in a research report on Wednesday, April 17th. HSBC upgraded shares of UnitedHealth Group from a “hold” rating to a “buy” rating and set a $580.00 target price for the company in a research report on Wednesday, June 5th. Finally, Truist Financial reiterated a “buy” rating and set a $600.00 target price on shares of UnitedHealth Group in a research report on Wednesday, April 17th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, UnitedHealth Group has a consensus rating of “Moderate Buy” and a consensus price target of $579.74.

About UnitedHealth Group

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