Point72 Asia Singapore Pte. Ltd. Buys Shares of 7,365 UnitedHealth Group Incorporated (NYSE:UNH)

Point72 Asia Singapore Pte. Ltd. bought a new stake in UnitedHealth Group Incorporated (NYSE:UNH) during the second quarter, HoldingsChannel reports. The institutional investor bought 7,365 shares of the healthcare conglomerate’s stock, valued at approximately $3,751,000. UnitedHealth Group makes up approximately 0.8% of Point72 Asia Singapore Pte. Ltd.’s portfolio, making the stock its 27th largest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. Signature Resources Capital Management LLC grew its stake in UnitedHealth Group by 40.0% in the 2nd quarter. Signature Resources Capital Management LLC now owns 63 shares of the healthcare conglomerate’s stock worth $32,000 after acquiring an additional 18 shares during the period. Saxony Capital Management LLC lifted its position in UnitedHealth Group by 3.5% during the second quarter. Saxony Capital Management LLC now owns 530 shares of the healthcare conglomerate’s stock worth $270,000 after buying an additional 18 shares during the period. GoalVest Advisory LLC grew its stake in shares of UnitedHealth Group by 0.6% during the 2nd quarter. GoalVest Advisory LLC now owns 3,124 shares of the healthcare conglomerate’s stock valued at $1,591,000 after buying an additional 18 shares during the period. Fiduciary Group LLC boosted its holdings in UnitedHealth Group by 0.5% in the second quarter. Fiduciary Group LLC now owns 3,695 shares of the healthcare conglomerate’s stock valued at $1,882,000 after acquiring an additional 18 shares during the last quarter. Finally, Continuum Advisory LLC raised its holdings in shares of UnitedHealth Group by 0.6% in the 2nd quarter. Continuum Advisory LLC now owns 3,410 shares of the healthcare conglomerate’s stock worth $1,737,000 after purchasing an additional 19 shares during the period. 87.86% of the stock is currently owned by hedge funds and other institutional investors.

UnitedHealth Group Trading Up 0.4 %

Shares of NYSE:UNH opened at $575.59 on Wednesday. UnitedHealth Group Incorporated has a fifty-two week low of $436.38 and a fifty-two week high of $607.94. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.67. The company has a market cap of $531.51 billion, a PE ratio of 35.18, a P/E/G ratio of 1.60 and a beta of 0.58. The company’s 50-day moving average price is $578.80 and its 200 day moving average price is $522.51.

UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings data on Tuesday, July 16th. The healthcare conglomerate reported $6.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.66 by $0.14. UnitedHealth Group had a return on equity of 26.55% and a net margin of 3.66%. The business had revenue of $98.86 billion during the quarter, compared to analyst estimates of $98.73 billion. During the same period in the prior year, the company posted $6.14 EPS. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. Sell-side analysts anticipate that UnitedHealth Group Incorporated will post 27.69 earnings per share for the current year.

UnitedHealth Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 24th. Shareholders of record on Monday, September 16th were given a dividend of $2.10 per share. The ex-dividend date was Monday, September 16th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 1.46%. UnitedHealth Group’s dividend payout ratio (DPR) is 51.34%.

Insider Activity

In other UnitedHealth Group news, EVP Erin Mcsweeney sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $579.03, for a total value of $868,545.00. Following the completion of the sale, the executive vice president now directly owns 7,785 shares in the company, valued at $4,507,748.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other UnitedHealth Group news, CAO Thomas E. Roos sold 2,851 shares of UnitedHealth Group stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $569.88, for a total value of $1,624,727.88. Following the transaction, the chief accounting officer now owns 29,501 shares in the company, valued at $16,812,029.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Erin Mcsweeney sold 1,500 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $579.03, for a total value of $868,545.00. Following the sale, the executive vice president now directly owns 7,785 shares of the company’s stock, valued at $4,507,748.55. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on UNH. Truist Financial raised their price target on shares of UnitedHealth Group from $600.00 to $640.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. TD Cowen increased their price objective on shares of UnitedHealth Group from $546.00 to $601.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Cantor Fitzgerald restated an “overweight” rating and issued a $591.00 target price on shares of UnitedHealth Group in a research note on Monday, September 16th. Barclays boosted their price objective on UnitedHealth Group from $560.00 to $604.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Finally, HSBC lifted their target price on UnitedHealth Group from $580.00 to $610.00 in a research report on Thursday, July 18th. Two research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $614.17.

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.