12,299,923 Shares in UnitedHealth Group Incorporated $UNH Purchased by Norges Bank

Norges Bank acquired a new position in UnitedHealth Group Incorporated (NYSE:UNH) during the second quarter, HoldingsChannel reports. The institutional investor acquired 12,299,923 shares of the healthcare conglomerate’s stock, valued at approximately $3,837,207,000. UnitedHealth Group makes up about 0.5% of Norges Bank’s holdings, making the stock its 29th biggest position.

Several other large investors have also added to or reduced their stakes in the stock. Caitlin John LLC boosted its position in shares of UnitedHealth Group by 14.8% during the first quarter. Caitlin John LLC now owns 862 shares of the healthcare conglomerate’s stock valued at $451,000 after purchasing an additional 111 shares in the last quarter. Murphy Pohlad Asset Management LLC grew its position in shares of UnitedHealth Group by 21.8% in the 2nd quarter. Murphy Pohlad Asset Management LLC now owns 4,425 shares of the healthcare conglomerate’s stock worth $1,380,000 after buying an additional 791 shares during the period. Triumph Capital Management purchased a new position in UnitedHealth Group during the 2nd quarter valued at about $1,324,000. Wealth Effects LLC grew its holdings in UnitedHealth Group by 14.4% in the second quarter. Wealth Effects LLC now owns 4,688 shares of the healthcare conglomerate’s stock worth $1,463,000 after purchasing an additional 591 shares during the period. Finally, Towercrest Capital Management purchased a new position in shares of UnitedHealth Group during the second quarter valued at approximately $236,000. Institutional investors own 87.86% of the company’s stock.

UnitedHealth Group Trading Up 1.1%

Shares of UnitedHealth Group stock opened at $329.78 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.82 and a quick ratio of 0.85. The stock has a market capitalization of $298.73 billion, a PE ratio of 17.21, a P/E/G ratio of 2.28 and a beta of 0.47. UnitedHealth Group Incorporated has a 1-year low of $234.60 and a 1-year high of $622.83. The company’s fifty day simple moving average is $343.51 and its 200-day simple moving average is $315.21.

UnitedHealth Group (NYSE:UNH) last released its earnings results 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 for the quarter, compared to the consensus estimate of $113.19 billion. UnitedHealth Group had a return on equity of 19.23% and a net margin of 4.04%.UnitedHealth Group’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period in the previous year, the business earned $7.15 earnings per share. As a group, equities analysts anticipate that UnitedHealth Group Incorporated will post 29.54 earnings per share for the current year.

UnitedHealth Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Monday, December 8th will be given a dividend of $2.21 per share. The ex-dividend date is Monday, December 8th. This represents a $8.84 annualized dividend and a dividend yield of 2.7%. UnitedHealth Group’s dividend payout ratio (DPR) is presently 46.14%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. The Goldman Sachs Group started coverage on UnitedHealth Group in a research note on Tuesday, October 14th. They set a “buy” rating and a $406.00 price objective for the company. Leerink Partners set a $410.00 target price on UnitedHealth Group and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Royal Bank Of Canada upped their target price on shares of UnitedHealth Group from $286.00 to $408.00 and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Barclays increased their price objective on shares of UnitedHealth Group from $352.00 to $386.00 and gave the company an “overweight” rating in a research report on Thursday, October 9th. Finally, Robert W. Baird reissued an “underperform” rating and set a $198.00 price target (down from $312.00) on shares of UnitedHealth Group in a report on Thursday, July 31st. Eighteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $397.12.

UnitedHealth Group Company 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.