Foyston Gordon & Payne Inc acquired a new stake in UnitedHealth Group Incorporated (NYSE:UNH – Free Report) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 29,851 shares of the healthcare conglomerate’s stock, valued at approximately $12,407,000. UnitedHealth Group comprises about 2.7% of Foyston Gordon & Payne Inc’s holdings, making the stock its 13th largest position.
A number of other hedge funds have also recently made changes to their positions in UNH. BlackRock Inc. grew its stake in UnitedHealth Group by 4.6% in the 2nd quarter. BlackRock Inc. now owns 76,863,061 shares of the healthcare conglomerate’s stock worth $31,946,594,000 after acquiring an additional 3,395,530 shares in the last quarter. State Street Corp boosted its holdings in shares of UnitedHealth Group by 2.5% in the fourth quarter. State Street Corp now owns 45,232,170 shares of the healthcare conglomerate’s stock valued at $14,931,592,000 after purchasing an additional 1,119,834 shares during the period. Capital World Investors grew its stake in UnitedHealth Group by 3.8% in the fourth quarter. Capital World Investors now owns 22,591,042 shares of the healthcare conglomerate’s stock worth $7,457,723,000 after purchasing an additional 824,120 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in UnitedHealth Group by 3.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 18,829,054 shares of the healthcare conglomerate’s stock valued at $6,215,660,000 after purchasing an additional 680,077 shares in the last quarter. Finally, Capital International Investors grew its position in shares of UnitedHealth Group by 6.6% during the 4th quarter. Capital International Investors now owns 18,655,111 shares of the healthcare conglomerate’s stock worth $6,158,734,000 after buying an additional 1,155,162 shares in the last quarter. 87.86% of the stock is currently owned by institutional investors.
UnitedHealth Group Stock Up 2.3%
NYSE:UNH opened at $398.89 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a market capitalization of $358.04 billion, a P/E ratio of 25.67, a P/E/G ratio of 1.35 and a beta of 0.62. The company’s 50-day simple moving average is $413.74 and its 200-day simple moving average is $357.26. UnitedHealth Group Incorporated has a fifty-two week low of $255.96 and a fifty-two week high of $461.62.
UnitedHealth Group Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Monday, September 14th will be given a dividend of $2.32 per share. This represents a $9.28 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Monday, September 14th. UnitedHealth Group’s dividend payout ratio is currently 59.72%.
Insiders Place Their Bets
In other news, CEO Patrick Hugh Conway sold 500 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $410.00, for a total transaction of $205,000.00. Following the sale, the chief executive officer owned 16,497 shares in the company, valued at approximately $6,763,770. The trade was a 2.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.19% of the company’s stock.
Analyst Ratings Changes
UNH has been the subject of several recent research reports. DA Davidson set a $512.00 price objective on UnitedHealth Group in a report on Tuesday, July 21st. BMO Capital Markets set a $512.00 target price on shares of UnitedHealth Group in a research report on Tuesday, July 21st. Wall Street Zen raised shares of UnitedHealth Group from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Barclays boosted their price objective on shares of UnitedHealth Group from $429.00 to $441.00 and gave the stock an “overweight” rating in a research note on Monday, July 20th. Finally, Oppenheimer increased their target price on UnitedHealth Group from $420.00 to $500.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $455.92.
Read Our Latest Stock Report on UNH
UnitedHealth Group Profile
UnitedHealth Group Inc is a diversified health care company headquartered in Minnetonka, Minnesota, that operates two primary business platforms: UnitedHealthcare and Optum. Founded in 1977, the company provides a broad range of health benefits and health care services to individuals, employers, governmental entities and other organizations. Its operations span commercial employer-sponsored plans, individual and Medicare and Medicaid programs, and services for customers and health systems in the United States and selected international markets.
UnitedHealthcare is the company’s benefits business, administering health plans and networks, managing provider relationships, and offering coverage products for employers, individuals, and government-sponsored programs.
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