Fisher Funds Management LTD Sells 35,228 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Fisher Funds Management LTD cut its stake in UnitedHealth Group Incorporated (NYSE:UNH) by 12.7% in the first quarter, Holdings Channel reports. The fund owned 241,251 shares of the healthcare conglomerate’s stock after selling 35,228 shares during the period. UnitedHealth Group accounts for about 3.1% of Fisher Funds Management LTD’s portfolio, making the stock its 6th largest holding. Fisher Funds Management LTD’s holdings in UnitedHealth Group were worth $126,355,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in shares of UnitedHealth Group by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 19,956,219 shares of the healthcare conglomerate’s stock worth $10,068,869,000 after purchasing an additional 319,515 shares during the period. Capital International Investors boosted its position in shares of UnitedHealth Group by 6.2% during the fourth quarter. Capital International Investors now owns 15,616,007 shares of the healthcare conglomerate’s stock worth $7,899,905,000 after buying an additional 906,365 shares during the period. Norges Bank acquired a new stake in shares of UnitedHealth Group in the fourth quarter valued at $6,375,744,000. Northern Trust Corp boosted its holdings in UnitedHealth Group by 12.5% during the 4th quarter. Northern Trust Corp now owns 9,503,671 shares of the healthcare conglomerate’s stock valued at $4,807,527,000 after acquiring an additional 1,058,488 shares during the period. Finally, Franklin Resources Inc. lifted its position in shares of UnitedHealth Group by 10.7% during the fourth quarter. Franklin Resources Inc. now owns 8,923,770 shares of the healthcare conglomerate’s stock worth $4,514,178,000 after purchasing an additional 861,854 shares in the last quarter. Institutional investors and hedge funds own 87.86% of the company’s stock.

UnitedHealth Group Stock Performance

UnitedHealth Group stock opened at $308.69 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $280.03 billion, a P/E ratio of 12.93, a PEG ratio of 1.46 and a beta of 0.45. The stock has a fifty day moving average price of $327.18 and a 200 day moving average price of $448.90. UnitedHealth Group Incorporated has a 52 week low of $248.88 and a 52 week high of $630.73.

UnitedHealth Group (NYSE:UNH) last posted its quarterly earnings results on Thursday, April 17th. The healthcare conglomerate reported $7.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.29 by ($0.09). The firm had revenue of $109.58 billion for the quarter, compared to analysts’ expectations of $111.56 billion. UnitedHealth Group had a net margin of 5.39% and a return on equity of 26.29%. During the same period last year, the firm posted $6.91 EPS. Equities research analysts anticipate that UnitedHealth Group Incorporated will post 29.54 earnings per share for the current year.

UnitedHealth Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 24th. Investors of record on Monday, June 16th were issued a $2.21 dividend. This is an increase from UnitedHealth Group’s previous quarterly dividend of $2.10. This represents a $8.84 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend was Monday, June 16th. UnitedHealth Group’s dividend payout ratio is currently 37.02%.

Insider Buying and Selling

In other UnitedHealth Group news, Director Kristen Gil purchased 3,700 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The shares were acquired at an average price of $271.17 per share, for a total transaction of $1,003,329.00. Following the completion of the purchase, the director owned 3,818 shares in the company, valued at $1,035,327.06. The trade was a 3,135.59% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Patrick Hugh Conway sold 589 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $305.00, for a total value of $179,645.00. Following the transaction, the chief executive officer owned 10,398 shares of the company’s stock, valued at approximately $3,171,390. This trade represents a 5.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have bought 109,408 shares of company stock valued at $31,607,768. 0.28% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Piper Sandler decreased their target price on UnitedHealth Group from $552.00 to $353.00 and set an “overweight” rating for the company in a report on Tuesday, June 3rd. Truist Financial reiterated a “buy” rating and set a $360.00 target price (down previously from $580.00) on shares of UnitedHealth Group in a research note on Monday, May 19th. TD Cowen downgraded shares of UnitedHealth Group from a “buy” rating to a “hold” rating and set a $308.00 price objective for the company. in a research report on Monday, May 19th. Morgan Stanley reduced their price target on shares of UnitedHealth Group from $563.00 to $374.00 and set an “overweight” rating for the company in a research report on Wednesday, May 14th. Finally, Wolfe Research cut their target price on UnitedHealth Group from $501.00 to $390.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 20th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $415.57.

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.