UnitedHealth Group Incorporated $UNH Position Increased by Westpac Banking Corp

Westpac Banking Corp lifted its position in UnitedHealth Group Incorporated (NYSE:UNH) by 77.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,947 shares of the healthcare conglomerate’s stock after acquiring an additional 15,658 shares during the period. UnitedHealth Group comprises approximately 0.7% of Westpac Banking Corp’s holdings, making the stock its 22nd largest position. Westpac Banking Corp’s holdings in UnitedHealth Group were worth $11,214,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Integrated Quantitative Investments LLC purchased a new stake in UnitedHealth Group in the 2nd quarter worth about $1,441,000. Western Wealth Management LLC lifted its position in shares of UnitedHealth Group by 3.5% in the second quarter. Western Wealth Management LLC now owns 8,855 shares of the healthcare conglomerate’s stock worth $2,763,000 after purchasing an additional 299 shares in the last quarter. Alberta Investment Management Corp grew its position in UnitedHealth Group by 58.6% during the second quarter. Alberta Investment Management Corp now owns 73,400 shares of the healthcare conglomerate’s stock valued at $22,899,000 after purchasing an additional 27,111 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in UnitedHealth Group in the 2nd quarter worth approximately $2,357,000. Finally, Kingsview Wealth Management LLC grew its holdings in shares of UnitedHealth Group by 329.1% during the 2nd quarter. Kingsview Wealth Management LLC now owns 39,919 shares of the healthcare conglomerate’s stock valued at $12,454,000 after acquiring an additional 30,617 shares in the last quarter. 87.86% of the stock is currently owned by hedge funds and other institutional investors.

UnitedHealth Group Price Performance

NYSE UNH opened at $321.44 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.85 and a current ratio of 0.82. The stock has a 50-day simple moving average of $347.65 and a 200 day simple moving average of $319.44. The stock has a market capitalization of $291.17 billion, a PE ratio of 16.78, a P/E/G ratio of 2.28 and a beta of 0.47. UnitedHealth Group Incorporated has a twelve month low of $234.60 and a twelve month high of $622.83.

UnitedHealth Group (NYSE:UNH) last posted its quarterly earnings data on Tuesday, October 28th. The healthcare conglomerate reported $2.92 earnings per share for the quarter, beating the consensus estimate of $2.87 by $0.05. The company had revenue of $113.16 billion during the quarter, compared to analysts’ expectations of $113.19 billion. UnitedHealth Group had a return on equity of 19.23% and a net margin of 4.04%.UnitedHealth Group’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period in the prior year, the business earned $7.15 earnings per share. Research analysts anticipate that UnitedHealth Group Incorporated will post 29.54 EPS for the current year.

UnitedHealth Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Investors of record on Monday, December 8th will be given a dividend of $2.21 per share. The ex-dividend date of this dividend is Monday, December 8th. This represents a $8.84 dividend on an annualized basis and a yield of 2.8%. UnitedHealth Group’s dividend payout ratio (DPR) is 46.14%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Mizuho upped their target price on UnitedHealth Group from $300.00 to $430.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Piper Sandler cut their price objective on shares of UnitedHealth Group from $423.00 to $417.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 28th. Baird R W downgraded shares of UnitedHealth Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 31st. Zacks Research raised shares of UnitedHealth Group from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Finally, The Goldman Sachs Group began coverage on UnitedHealth Group in a report on Tuesday, October 14th. They set a “buy” rating and a $406.00 target price on the stock. Eighteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $397.12.

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.