Canoe Financial LP Buys 90,585 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Canoe Financial LP lifted its holdings in UnitedHealth Group Incorporated (NYSE:UNH - Free Report) by 24.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 462,100 shares of the healthcare conglomerate's stock after purchasing an additional 90,585 shares during the quarter. UnitedHealth Group accounts for about 3.4% of Canoe Financial LP's investment portfolio, making the stock its 5th biggest holding. Canoe Financial LP owned 0.05% of UnitedHealth Group worth $233,758,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of UNH. Kathleen S. Wright Associates Inc. bought a new position in shares of UnitedHealth Group in the 3rd quarter worth approximately $27,000. Global Wealth Strategies & Associates grew its holdings in UnitedHealth Group by 152.4% during the third quarter. Global Wealth Strategies & Associates now owns 53 shares of the healthcare conglomerate's stock valued at $31,000 after purchasing an additional 32 shares during the period. West Financial Advisors LLC purchased a new position in shares of UnitedHealth Group during the 3rd quarter valued at about $32,000. RPg Family Wealth Advisory LLC bought a new stake in UnitedHealth Group during the 3rd quarter worth approximately $37,000. Finally, Quarry LP boosted its position in shares of UnitedHealth Group by 132.1% in the second quarter. Quarry LP now owns 65 shares of the healthcare conglomerate's stock worth $33,000 after purchasing an additional 37 shares during the period. 87.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

UNH has been the subject of several recent analyst reports. Bank of America dropped their target price on shares of UnitedHealth Group from $675.00 to $650.00 and set a "buy" rating for the company in a report on Wednesday, October 16th. Truist Financial decreased their target price on UnitedHealth Group from $625.00 to $610.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. KeyCorp reaffirmed an "overweight" rating and set a $650.00 price objective on shares of UnitedHealth Group in a report on Friday. Barclays decreased their price target on shares of UnitedHealth Group from $655.00 to $642.00 and set an "overweight" rating on the stock in a research note on Friday. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $700.00 target price on shares of UnitedHealth Group in a report on Friday. Two equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $627.74.

UnitedHealth Group Stock Down 0.1 %

Shares of UNH traded down $0.56 during mid-day trading on Friday, hitting $510.03. The company's stock had a trading volume of 7,462,712 shares, compared to its average volume of 5,104,531. The firm has a market capitalization of $469.37 billion, a price-to-earnings ratio of 33.23, a PEG ratio of 1.42 and a beta of 0.62. The company's 50-day moving average is $549.37 and its 200-day moving average is $563.18. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.74. UnitedHealth Group Incorporated has a 52-week low of $436.38 and a 52-week high of $630.73.

UnitedHealth Group (NYSE:UNH - Get Free Report) last announced its quarterly earnings results on Thursday, January 16th. The healthcare conglomerate reported $6.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.74 by $0.07. UnitedHealth Group had a return on equity of 26.37% and a net margin of 3.63%. The business had revenue of $100.81 billion for the quarter, compared to the consensus estimate of $101.60 billion. During the same period last year, the business posted $5.83 EPS. The business's revenue was up 6.8% compared to the same quarter last year. On average, equities research analysts forecast that UnitedHealth Group Incorporated will post 27.6 EPS for the current fiscal year.

UnitedHealth Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Monday, December 9th were given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date was Monday, December 9th. UnitedHealth Group's payout ratio is presently 54.72%.

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.