First Long Island Investors LLC Has $62.19 Million Stake in UnitedHealth Group Incorporated (NYSE:UNH)

First Long Island Investors LLC boosted its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 0.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 106,373 shares of the healthcare conglomerate’s stock after purchasing an additional 452 shares during the period. UnitedHealth Group makes up about 4.9% of First Long Island Investors LLC’s portfolio, making the stock its 2nd biggest position. First Long Island Investors LLC’s holdings in UnitedHealth Group were worth $62,194,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. Kathleen S. Wright Associates Inc. purchased a new stake in UnitedHealth Group in the third quarter valued at $27,000. Global Wealth Strategies & Associates boosted its stake in shares of UnitedHealth Group by 152.4% in the third quarter. Global Wealth Strategies & Associates now owns 53 shares of the healthcare conglomerate’s stock worth $31,000 after buying an additional 32 shares during the last quarter. Macroview Investment Management LLC raised its position in UnitedHealth Group by 671.4% during the second quarter. Macroview Investment Management LLC now owns 54 shares of the healthcare conglomerate’s stock valued at $28,000 after acquiring an additional 47 shares in the last quarter. West Financial Advisors LLC acquired a new stake in shares of UnitedHealth Group during the 3rd quarter worth approximately $32,000. Finally, Bbjs Financial Advisors LLC acquired a new position in shares of UnitedHealth Group in the 2nd quarter valued at $31,000. 87.86% of the stock is owned by institutional investors and hedge funds.

UnitedHealth Group Trading Down 0.1 %

UnitedHealth Group stock traded down $0.56 during midday trading on Friday, hitting $592.59. 778,030 shares of the stock were exchanged, compared to its average volume of 3,877,085. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $545.35 billion, a price-to-earnings ratio of 38.72, a PEG ratio of 1.78 and a beta of 0.58. The stock’s 50-day simple moving average is $582.95 and its 200 day simple moving average is $548.34. UnitedHealth Group Incorporated has a fifty-two week low of $436.38 and a fifty-two week high of $630.73.

UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings data on Tuesday, October 15th. The healthcare conglomerate reported $7.15 earnings per share for the quarter, topping the consensus estimate of $7.00 by $0.15. UnitedHealth Group had a return on equity of 26.37% and a net margin of 3.63%. The company had revenue of $100.82 billion during the quarter, compared to analyst estimates of $99.14 billion. During the same period in the prior year, the business posted $6.56 earnings per share. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. On average, equities analysts anticipate that UnitedHealth Group Incorporated will post 27.61 EPS for the current year.

UnitedHealth Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Monday, December 9th will be paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Monday, December 9th. UnitedHealth Group’s dividend payout ratio (DPR) is 54.72%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Bank of America cut their price objective on shares of UnitedHealth Group from $675.00 to $650.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. HSBC cut UnitedHealth Group from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. UBS Group cut their price objective on UnitedHealth Group from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Morgan Stanley dropped their price target on shares of UnitedHealth Group from $615.00 to $610.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Finally, Truist Financial reaffirmed a “buy” rating and set a $625.00 price objective (down from $640.00) on shares of UnitedHealth Group in a report on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, UnitedHealth Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $615.53.

UnitedHealth Group Company Profile

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.