Geode Capital Management LLC Grows Position in UnitedHealth Group Incorporated (NYSE:UNH)

Geode Capital Management LLC raised its stake in UnitedHealth Group Incorporated (NYSE:UNH) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,956,219 shares of the healthcare conglomerate’s stock after buying an additional 319,515 shares during the period. UnitedHealth Group makes up approximately 0.8% of Geode Capital Management LLC’s holdings, making the stock its 14th largest holding. Geode Capital Management LLC owned about 2.17% of UnitedHealth Group worth $10,068,869,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. NewSquare Capital LLC purchased a new position in shares of UnitedHealth Group during the 4th quarter worth approximately $25,000. AlphaMark Advisors LLC acquired a new position in shares of UnitedHealth Group in the fourth quarter worth $30,000. Promus Capital LLC acquired a new stake in shares of UnitedHealth Group during the fourth quarter valued at $32,000. Pillar Financial Advisors LLC acquired a new position in UnitedHealth Group in the 4th quarter valued at about $40,000. Finally, DecisionPoint Financial LLC boosted its stake in shares of UnitedHealth Group by 155.0% during the 4th quarter. DecisionPoint Financial LLC now owns 102 shares of the healthcare conglomerate’s stock worth $52,000 after purchasing an additional 62 shares during the last quarter. Institutional investors and hedge funds own 87.86% of the company’s stock.

UnitedHealth Group Stock Up 1.6 %

Shares of NYSE UNH opened at $524.48 on Tuesday. UnitedHealth Group Incorporated has a 1 year low of $436.38 and a 1 year high of $630.73. The stock’s 50-day simple moving average is $509.10 and its 200-day simple moving average is $543.47. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.91 and a current ratio of 0.83. The firm has a market cap of $479.75 billion, a price-to-earnings ratio of 33.84, a PEG ratio of 1.37 and a beta of 0.62.

UnitedHealth Group (NYSE:UNH) last released its quarterly earnings results on Thursday, January 16th. The healthcare conglomerate reported $6.81 earnings per share for the quarter, topping analysts’ consensus estimates of $6.74 by $0.07. UnitedHealth Group had a net margin of 3.60% and a return on equity of 26.69%. The business had revenue of $100.81 billion during the quarter, compared to the consensus estimate of $101.60 billion. During the same quarter last year, the company earned $5.83 earnings per share. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. As a group, equities analysts anticipate that UnitedHealth Group Incorporated will post 29.54 earnings per share for the current fiscal year.

UnitedHealth Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Monday, March 10th were issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date was Monday, March 10th. UnitedHealth Group’s dividend payout ratio is presently 54.19%.

Insider Activity

In other UnitedHealth Group news, Director Timothy Patrick Flynn bought 1,000 shares of the stock in a transaction on Friday, January 17th. The stock was purchased at an average price of $511.57 per share, for a total transaction of $511,570.00. Following the completion of the purchase, the director now directly owns 4,500 shares in the company, valued at approximately $2,302,065. This trade represents a 28.57 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

UNH has been the subject of several recent analyst reports. Piper Sandler lowered their price target on UnitedHealth Group from $605.00 to $600.00 and set an “overweight” rating for the company in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft increased their price target on shares of UnitedHealth Group from $595.00 to $625.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Oppenheimer upped their price objective on UnitedHealth Group from $610.00 to $640.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Cantor Fitzgerald reissued an “overweight” rating and set a $700.00 price target on shares of UnitedHealth Group in a research report on Friday, January 17th. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $650.00 price objective on shares of UnitedHealth Group in a research note on Friday, January 17th. Twenty investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $629.32.

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.