Primecap Management Co. CA Increases Stake in UnitedHealth Group Incorporated (NYSE:UNH)

Primecap Management Co. CA lifted its position in UnitedHealth Group Incorporated (NYSE:UNH) by 3.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 116,464 shares of the healthcare conglomerate’s stock after acquiring an additional 4,350 shares during the period. Primecap Management Co. CA’s holdings in UnitedHealth Group were worth $59,310,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Macroview Investment Management LLC lifted its position in UnitedHealth Group by 671.4% during the 2nd 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 during the period. Delos Wealth Advisors LLC boosted its holdings in UnitedHealth Group by 757.1% in the first quarter. Delos Wealth Advisors LLC now owns 60 shares of the healthcare conglomerate’s stock worth $30,000 after acquiring an additional 53 shares in the last quarter. True Wealth Design LLC bought a new position in UnitedHealth Group in the 4th quarter worth about $31,000. Bbjs Financial Advisors LLC bought a new stake in shares of UnitedHealth Group during the second quarter valued at approximately $31,000. Finally, Signature Resources Capital Management LLC increased its holdings in shares of UnitedHealth Group by 40.0% in the 2nd quarter. Signature Resources Capital Management LLC now owns 63 shares of the healthcare conglomerate’s stock worth $32,000 after purchasing an additional 18 shares in the last quarter. 87.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Truist Financial boosted their target price on UnitedHealth Group from $600.00 to $640.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. StockNews.com upgraded shares of UnitedHealth Group from a “hold” rating to a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their target price on shares of UnitedHealth Group from $546.00 to $559.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $591.00 price objective on shares of UnitedHealth Group in a report on Monday. Finally, Jefferies Financial Group raised UnitedHealth Group from a “hold” rating to a “buy” rating and raised their target price for the stock from $481.00 to $647.00 in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, UnitedHealth Group has a consensus rating of “Buy” and a consensus price target of $614.17.

UnitedHealth Group Price Performance

Shares of UnitedHealth Group stock opened at $577.89 on Wednesday. The stock’s 50-day simple moving average is $572.79 and its 200-day simple moving average is $519.00. The company has a market capitalization of $531.88 billion, a price-to-earnings ratio of 35.32, a PEG ratio of 1.64 and a beta of 0.58. UnitedHealth Group Incorporated has a 52 week low of $436.38 and a 52 week high of $607.94. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.67.

UnitedHealth Group (NYSE:UNH) last released its quarterly earnings data on Tuesday, July 16th. The healthcare conglomerate reported $6.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.66 by $0.14. The firm had revenue of $98.86 billion for the quarter, compared to analysts’ expectations of $98.73 billion. UnitedHealth Group had a net margin of 3.66% and a return on equity of 26.55%. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $6.14 earnings per share. As a group, analysts expect that UnitedHealth Group Incorporated will post 27.69 earnings per share for the current fiscal year.

UnitedHealth Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 24th. Investors of record on Monday, September 16th will be paid a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Monday, September 16th. UnitedHealth Group’s payout ratio is presently 51.34%.

Insiders Place Their Bets

In related news, CAO Thomas E. Roos sold 2,851 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $569.88, for a total value of $1,624,727.88. Following the sale, the chief accounting officer now owns 29,501 shares in the company, valued at $16,812,029.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Thomas E. Roos sold 2,851 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $569.88, for a total value of $1,624,727.88. Following the sale, the chief accounting officer now directly owns 29,501 shares in the company, valued at approximately $16,812,029.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Erin Mcsweeney sold 1,500 shares of UnitedHealth Group stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $579.03, for a total value of $868,545.00. Following the completion of the transaction, the executive vice president now owns 7,785 shares of the company’s stock, valued at approximately $4,507,748.55. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

UnitedHealth Group 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.