BluePointe Capital Management LLC Acquires New Position in UnitedHealth Group Incorporated (NYSE:UNH)

BluePointe Capital Management LLC purchased a new stake in UnitedHealth Group Incorporated (NYSE:UNH) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 587 shares of the healthcare conglomerate’s stock, valued at approximately $307,000.

Several other large investors have also modified their holdings of UNH. Geode Capital Management LLC raised its stake 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 acquiring an additional 319,515 shares in the last quarter. Capital International Investors grew its position in UnitedHealth Group by 6.2% during the 4th quarter. Capital International Investors now owns 15,616,007 shares of the healthcare conglomerate’s stock worth $7,899,905,000 after purchasing an additional 906,365 shares during the last quarter. Norges Bank purchased a new stake in UnitedHealth Group during the 4th quarter worth approximately $6,375,744,000. Northern Trust Corp grew its position 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 worth $4,807,527,000 after purchasing an additional 1,058,488 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in UnitedHealth Group by 10.7% during the 4th 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 during the last quarter. Institutional investors own 87.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on UNH. Truist Financial reaffirmed a “buy” rating and issued a $360.00 price objective (down from $580.00) on shares of UnitedHealth Group in a report 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 on the stock. in a report on Monday, May 19th. JPMorgan Chase & Co. upped their price objective on shares of UnitedHealth Group from $405.00 to $418.00 and gave the company an “overweight” rating in a report on Friday, June 20th. Baird R W downgraded shares of UnitedHealth Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 11th. Finally, UBS Group lowered their price target on shares of UnitedHealth Group from $400.00 to $385.00 and set a “buy” rating on the stock in a report on Wednesday, June 25th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $415.00.

Insider Activity at UnitedHealth Group

In related news, Director Timothy Patrick Flynn bought 1,533 shares of the stock in a transaction on Wednesday, May 14th. The stock was bought at an average price of $320.80 per share, with a total value of $491,786.40. Following the completion of the purchase, the director directly owned 6,033 shares in the company, valued at $1,935,386.40. This represents a 34.07% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO John F. Rex acquired 17,175 shares of the stock in a transaction dated Friday, May 16th. The stock was acquired at an average cost of $291.12 per share, with a total value of $4,999,986.00. Following the purchase, the chief financial officer owned 203,796 shares of the company’s stock, valued at approximately $59,329,091.52. This trade represents a 9.20% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 109,408 shares of company stock valued at $31,607,768 over the last quarter. 0.28% of the stock is owned by insiders.

UnitedHealth Group Price Performance

Shares of NYSE UNH opened at $300.37 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.71. UnitedHealth Group Incorporated has a 52 week low of $248.88 and a 52 week high of $630.73. The firm has a 50-day simple moving average of $312.43 and a 200-day simple moving average of $438.47. The stock has a market capitalization of $272.48 billion, a price-to-earnings ratio of 12.58, a price-to-earnings-growth ratio of 1.46 and a beta of 0.45.

UnitedHealth Group (NYSE:UNH) last announced its quarterly earnings data 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). UnitedHealth Group had a net margin of 5.39% and a return on equity of 26.29%. The firm had revenue of $109.58 billion during the quarter, compared to analysts’ expectations of $111.56 billion. During the same period in the prior year, the company posted $6.91 EPS. On average, equities analysts predict that UnitedHealth Group Incorporated will post 29.54 earnings per share for the current fiscal year.

UnitedHealth Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 24th. Shareholders of record on Monday, June 16th were paid a dividend of $2.21 per share. This represents a $8.84 annualized dividend and a yield of 2.94%. The ex-dividend date was Monday, June 16th. This is a positive change from UnitedHealth Group’s previous quarterly dividend of $2.10. UnitedHealth Group’s dividend payout ratio (DPR) is 37.02%.

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.