Canada Pension Plan Investment Board lifted its position in UnitedHealth Group Incorporated (NYSE:UNH – Free Report) by 1.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,460,493 shares of the healthcare conglomerate’s stock after purchasing an additional 46,603 shares during the quarter. UnitedHealth Group accounts for about 1.8% of Canada Pension Plan Investment Board’s holdings, making the stock its 7th largest holding. Canada Pension Plan Investment Board owned approximately 0.27% of UnitedHealth Group worth $1,240,556,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Robbins Farley bought a new position in UnitedHealth Group during the 3rd quarter worth approximately $25,000. NewSquare Capital LLC grew its position in UnitedHealth Group by 340.0% during the 3rd quarter. NewSquare Capital LLC now owns 66 shares of the healthcare conglomerate’s stock worth $33,000 after acquiring an additional 51 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in UnitedHealth Group in the 1st quarter worth approximately $35,000. WFA of San Diego LLC purchased a new stake in UnitedHealth Group in the 2nd quarter worth approximately $39,000. Finally, Annapolis Financial Services LLC lifted its holdings in UnitedHealth Group by 38.6% in the 3rd quarter. Annapolis Financial Services LLC now owns 79 shares of the healthcare conglomerate’s stock worth $40,000 after buying an additional 22 shares during the period. 85.69% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, Director Stephen J. Hemsley sold 66,081 shares of the stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $550.39, for a total value of $36,370,321.59. Following the transaction, the director now owns 635,528 shares of the company’s stock, valued at $349,788,255.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.35% of the stock is owned by insiders.
UnitedHealth Group Price Performance
UnitedHealth Group (NYSE:UNH – Get Free Report) last issued its quarterly earnings data on Friday, January 12th. The healthcare conglomerate reported $6.16 earnings per share for the quarter, topping the consensus estimate of $5.98 by $0.18. The company had revenue of $94.43 billion for the quarter, compared to analysts’ expectations of $92.13 billion. UnitedHealth Group had a return on equity of 26.39% and a net margin of 6.02%. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the previous year, the firm posted $5.34 earnings per share. Research analysts expect that UnitedHealth Group Incorporated will post 27.84 EPS for the current fiscal year.
Analyst Ratings Changes
Several equities research analysts have weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $596.00 price objective on shares of UnitedHealth Group in a report on Tuesday, January 16th. Oppenheimer restated an “outperform” rating and issued a $610.00 target price on shares of UnitedHealth Group in a research note on Wednesday, January 17th. Piper Sandler lowered their target price on UnitedHealth Group from $584.00 to $581.00 and set an “overweight” rating for the company in a research note on Wednesday, January 17th. Stephens lowered their target price on UnitedHealth Group from $615.00 to $605.00 and set an “overweight” rating for the company in a research note on Tuesday, January 16th. Finally, Truist Financial reiterated a “buy” rating and set a $610.00 price objective on shares of UnitedHealth Group in a research note on Thursday, November 30th. One research analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $575.79.
UnitedHealth Group Company Profile
UnitedHealth Group Incorporated operates as a diversified health care company in the United States. It 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.
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