Jennison Associates LLC Buys 86,957 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Jennison Associates LLC increased its position in UnitedHealth Group Incorporated (NYSE:UNH) by 2.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,704,770 shares of the healthcare conglomerate’s stock after acquiring an additional 86,957 shares during the quarter. UnitedHealth Group comprises approximately 1.2% of Jennison Associates LLC’s holdings, making the stock its 21st biggest position. Jennison Associates LLC owned about 0.40% of UnitedHealth Group worth $1,832,750,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Richelieu Gestion SA purchased a new stake in shares of UnitedHealth Group during the fourth quarter valued at $26,000. CGC Financial Services LLC boosted its position in UnitedHealth Group by 1,000.0% in the 4th quarter. CGC Financial Services LLC now owns 55 shares of the healthcare conglomerate’s stock worth $29,000 after purchasing an additional 50 shares in the last quarter. True Wealth Design LLC purchased a new position in shares of UnitedHealth Group during the 4th quarter valued at approximately $31,000. LFA Lugano Financial Advisors SA raised its stake in UnitedHealth Group by 148.1% in the 4th 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 during the last quarter. Finally, Red Tortoise LLC increased its stake in shares of UnitedHealth Group by 45.1% in the 1st quarter. Red Tortoise LLC now owns 74 shares of the healthcare conglomerate’s stock worth $36,000 after acquiring an additional 23 shares during the last quarter. 87.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on UNH shares. Piper Sandler raised their target price on UnitedHealth Group from $566.00 to $571.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. TD Cowen dropped their target price on UnitedHealth Group from $607.00 to $546.00 and set a “buy” rating on the stock in a report on Wednesday, April 10th. Cantor Fitzgerald reiterated an “overweight” rating and set a $591.00 target price on shares of UnitedHealth Group in a research report on Wednesday, June 12th. Deutsche Bank Aktiengesellschaft upped their target price on UnitedHealth Group from $545.00 to $562.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Finally, Truist Financial restated a “buy” rating and set a $600.00 price target on shares of UnitedHealth Group in a research note on Wednesday, April 17th. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, UnitedHealth Group currently has an average rating of “Moderate Buy” and a consensus price target of $579.74.

UnitedHealth Group Trading Up 0.3 %

Shares of UNH traded up $1.44 during trading hours on Monday, reaching $489.45. 3,450,747 shares of the company traded hands, compared to its average volume of 4,264,590. The company’s fifty day moving average price is $498.47 and its two-hundred day moving average price is $500.21. The company has a market capitalization of $450.48 billion, a price-to-earnings ratio of 29.92, a price-to-earnings-growth ratio of 1.44 and a beta of 0.60. UnitedHealth Group Incorporated has a 12 month low of $436.38 and a 12 month high of $554.70. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.69.

UnitedHealth Group (NYSE:UNH) last announced its quarterly earnings data on Tuesday, April 16th. The healthcare conglomerate reported $6.91 earnings per share (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 firm had revenue of $99.80 billion during the quarter, compared to analysts’ expectations of $99.23 billion. During the same period in the prior year, the company posted $6.26 earnings per share. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. Equities research analysts predict that UnitedHealth Group Incorporated will post 27.55 earnings per share for the current fiscal year.

UnitedHealth Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Monday, June 17th were paid a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 1.72%. The ex-dividend date was Monday, June 17th. This is a positive change from UnitedHealth Group’s previous quarterly dividend of $1.88. UnitedHealth Group’s payout ratio is 51.34%.

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.