Lord Abbett & CO. LLC Acquires 176,543 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Lord Abbett & CO. LLC lifted its holdings in shares of UnitedHealth Group Incorporated (NYSE:UNH - Free Report) by 29.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 783,143 shares of the healthcare conglomerate's stock after purchasing an additional 176,543 shares during the quarter. UnitedHealth Group accounts for 1.4% of Lord Abbett & CO. LLC's holdings, making the stock its 3rd largest position. Lord Abbett & CO. LLC owned 0.09% of UnitedHealth Group worth $457,888,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in UNH. Kathleen S. Wright Associates Inc. bought a new stake in shares of UnitedHealth Group during the 3rd quarter worth approximately $27,000. Global Wealth Strategies & Associates lifted its stake in UnitedHealth Group by 152.4% during the third quarter. Global Wealth Strategies & Associates now owns 53 shares of the healthcare conglomerate's stock worth $31,000 after purchasing an additional 32 shares during the last quarter. Macroview Investment Management LLC increased its stake in shares of UnitedHealth Group by 671.4% in the 2nd quarter. Macroview Investment Management LLC now owns 54 shares of the healthcare conglomerate's stock valued at $28,000 after purchasing an additional 47 shares during the last quarter. West Financial Advisors LLC bought a new stake in shares of UnitedHealth Group during the 3rd quarter worth $32,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in UnitedHealth Group during the third quarter worth about $37,000. 87.86% of the stock is currently owned by institutional investors.

UnitedHealth Group Trading Up 0.9 %

Shares of UnitedHealth Group stock traded up $4.72 on Friday, hitting $520.48. 8,202,905 shares of the company's stock traded hands, compared to its average volume of 3,987,167. The company has a market capitalization of $478.99 billion, a price-to-earnings ratio of 33.91, a price-to-earnings-growth ratio of 1.57 and a beta of 0.58. The company has a fifty day moving average of $581.88 and a two-hundred day moving average of $559.78. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.91 and a quick ratio of 0.91. UnitedHealth Group Incorporated has a one year low of $436.38 and a one year high of $630.73.

UnitedHealth Group (NYSE:UNH - Get Free Report) last released its earnings results on Tuesday, October 15th. The healthcare conglomerate reported $7.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.00 by $0.15. UnitedHealth Group had a net margin of 3.63% and a return on equity of 26.37%. The company had revenue of $100.82 billion for the quarter, compared to the consensus estimate of $99.14 billion. During the same quarter in the previous year, the company earned $6.56 EPS. UnitedHealth Group's quarterly revenue was up 9.2% compared to the same quarter last year. As a group, sell-side analysts expect that UnitedHealth Group Incorporated will post 27.61 earnings per share for the current year.

UnitedHealth Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Monday, December 9th will be issued a dividend of $2.10 per share. The ex-dividend date is Monday, December 9th. This represents a $8.40 annualized dividend and a dividend yield of 1.61%. UnitedHealth Group's dividend payout ratio is 54.72%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on UNH. Morgan Stanley decreased their price target on shares of UnitedHealth Group from $615.00 to $610.00 and set an "overweight" rating on the stock in a report on Wednesday, October 16th. StockNews.com upgraded shares of UnitedHealth Group from a "hold" rating to a "buy" rating in a report on Monday, December 9th. Royal Bank of Canada lowered their target price on UnitedHealth Group from $615.00 to $595.00 and set an "outperform" rating for the company in a report on Wednesday, October 16th. Truist Financial reissued a "buy" rating and set a $625.00 price target (down from $640.00) on shares of UnitedHealth Group in a research note on Wednesday, October 16th. Finally, KeyCorp began coverage on shares of UnitedHealth Group in a report on Friday, October 11th. They issued an "overweight" rating and a $675.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $626.84.

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.