Boone Capital Management LLC Invests $18.13 Million in UnitedHealth Group Incorporated $UNH

Boone Capital Management LLC purchased a new position in shares of UnitedHealth Group Incorporated (NYSE:UNH) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 58,112 shares of the healthcare conglomerate’s stock, valued at approximately $18,129,000. UnitedHealth Group makes up about 7.8% of Boone Capital Management LLC’s holdings, making the stock its 8th largest holding.

Other institutional investors have also recently modified their holdings of the company. Braidwell LP purchased a new stake in shares of UnitedHealth Group in the second quarter valued at approximately $15,411,000. Bridgeway Capital Management LLC increased its holdings in UnitedHealth Group by 80.5% in the 2nd quarter. Bridgeway Capital Management LLC now owns 65,784 shares of the healthcare conglomerate’s stock worth $20,523,000 after acquiring an additional 29,334 shares in the last quarter. BTG Pactual Asset Management US LLC lifted its holdings in UnitedHealth Group by 3.8% during the second quarter. BTG Pactual Asset Management US LLC now owns 4,640 shares of the healthcare conglomerate’s stock valued at $1,448,000 after purchasing an additional 169 shares in the last quarter. BlueCrest Capital Management Ltd purchased a new stake in shares of UnitedHealth Group during the second quarter worth about $42,924,000. Finally, Brave Warrior Advisors LLC lifted its stake in UnitedHealth Group by 200.4% in the 2nd quarter. Brave Warrior Advisors LLC now owns 1,499 shares of the healthcare conglomerate’s stock valued at $468,000 after buying an additional 1,000 shares in the last quarter. 87.86% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on UNH. Weiss Ratings upgraded UnitedHealth Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, October 24th. Sanford C. Bernstein raised their price objective on UnitedHealth Group from $433.00 to $440.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Truist Financial increased their target price on shares of UnitedHealth Group from $310.00 to $365.00 and gave the company a “buy” rating in a research report on Tuesday, September 9th. The Goldman Sachs Group began coverage on shares of UnitedHealth Group in a research note on Tuesday, October 14th. They set a “buy” rating and a $406.00 price objective for the company. Finally, Bank of America raised their target price on shares of UnitedHealth Group from $350.00 to $390.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 8th. Seventeen equities research 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. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $385.54.

UnitedHealth Group Stock Performance

UnitedHealth Group stock opened at $341.83 on Friday. The stock has a market cap of $309.65 billion, a price-to-earnings ratio of 17.84, a price-to-earnings-growth ratio of 2.20 and a beta of 0.43. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a 50 day simple moving average of $339.84 and a 200-day simple moving average of $316.91. UnitedHealth Group Incorporated has a 1-year low of $234.60 and a 1-year high of $606.36.

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

UnitedHealth Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Monday, December 8th will be given a $2.21 dividend. 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 2.6%. UnitedHealth Group’s dividend payout ratio is presently 46.14%.

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.