OFI Invest Asset Management Makes New $62.84 Million Investment in UnitedHealth Group Incorporated (NYSE:UNH)

OFI Invest Asset Management purchased a new position in UnitedHealth Group Incorporated (NYSE:UNH - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 128,629 shares of the healthcare conglomerate's stock, valued at approximately $62,838,000. UnitedHealth Group accounts for approximately 1.5% of OFI Invest Asset Management's holdings, making the stock its 12th biggest position.

Several other institutional investors and hedge funds have also bought and sold shares of the business. State Street Corp increased its holdings in UnitedHealth Group by 1.3% in the 3rd quarter. State Street Corp now owns 45,540,102 shares of the healthcare conglomerate's stock worth $26,626,387,000 after acquiring an additional 563,554 shares in the last quarter. Geode Capital Management LLC lifted its stake in UnitedHealth Group by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 19,636,704 shares of the healthcare conglomerate's stock valued at $11,440,133,000 after buying an additional 318,039 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of UnitedHealth Group by 2.5% in the third quarter. Franklin Resources Inc. now owns 8,061,916 shares of the healthcare conglomerate's stock valued at $4,884,019,000 after acquiring an additional 193,800 shares in the last quarter. Bank of New York Mellon Corp raised its stake in UnitedHealth Group by 0.5% in the 4th quarter. Bank of New York Mellon Corp now owns 7,931,478 shares of the healthcare conglomerate's stock valued at $4,012,218,000 after purchasing an additional 36,394 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in UnitedHealth Group by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,223,331 shares of the healthcare conglomerate's stock worth $3,148,134,000 after purchasing an additional 182,361 shares during the last quarter. 87.86% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Analyst Ratings Changes

Several brokerages recently issued reports on UNH. Truist Financial dropped their price objective on shares of UnitedHealth Group from $625.00 to $610.00 and set a "buy" rating for the company in a research note on Monday, January 6th. HSBC raised UnitedHealth Group from a "hold" rating to a "buy" rating and set a $595.00 target price for the company in a research note on Friday, January 10th. Oppenheimer increased their price objective on shares of UnitedHealth Group from $610.00 to $640.00 and gave the stock an "outperform" rating in a research report on Friday, December 6th. StockNews.com upgraded shares of UnitedHealth Group from a "hold" rating to a "buy" rating in a research note on Thursday, January 23rd. Finally, KeyCorp reiterated an "overweight" rating and issued a $650.00 target price on shares of UnitedHealth Group in a report on Friday, January 17th. One research analyst has rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $629.32.

UnitedHealth Group Price Performance

Shares of NYSE UNH traded up $6.32 during midday trading on Tuesday, hitting $486.54. The company had a trading volume of 2,774,916 shares, compared to its average volume of 4,959,555. UnitedHealth Group Incorporated has a twelve month low of $436.38 and a twelve month high of $630.73. The company has a quick ratio of 0.91, a current ratio of 0.83 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $445.04 billion, a price-to-earnings ratio of 31.39, a price-to-earnings-growth ratio of 1.37 and a beta of 0.62. The business has a 50-day simple moving average of $513.21 and a two-hundred day simple moving average of $552.69.

UnitedHealth Group (NYSE:UNH - Get Free Report) last released its quarterly earnings data on Thursday, January 16th. The healthcare conglomerate reported $6.81 earnings per share for the quarter, beating the consensus estimate of $6.74 by $0.07. UnitedHealth Group had a return on equity of 26.69% and a net margin of 3.60%. The firm had revenue of $100.81 billion during the quarter, compared to the consensus estimate of $101.60 billion. During the same period last year, the business posted $5.83 EPS. UnitedHealth Group's quarterly revenue was up 6.8% on a year-over-year basis. Equities research analysts anticipate that UnitedHealth Group Incorporated will post 29.54 earnings per share for the current year.

UnitedHealth Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Monday, March 10th will be given a $2.10 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 1.73%. UnitedHealth Group's dividend payout ratio is presently 54.19%.

Insider Buying and Selling

In other news, Director Timothy Patrick Flynn purchased 1,000 shares of the stock in a transaction dated Friday, January 17th. The stock was acquired at an average cost of $511.57 per share, for a total transaction of $511,570.00. Following the completion of the acquisition, the director now directly owns 4,500 shares in the company, valued at $2,302,065. This represents a 28.57 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.33% of the company's stock.

UnitedHealth Group 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.