Fullerton Fund Management Co Ltd. Lowers Holdings in UnitedHealth Group Incorporated (NYSE:UNH)

by · The Cerbat Gem

Fullerton Fund Management Co Ltd. reduced its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH – Free Report) by 78.2% in the second quarter, HoldingsChannel reports. The firm owned 9,658 shares of the healthcare conglomerate’s stock after selling 34,622 shares during the period. Fullerton Fund Management Co Ltd.’s holdings in UnitedHealth Group were worth $4,642,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. 25 LLC acquired a new position in UnitedHealth Group during the 1st quarter valued at about $28,000. Cascade Investment Advisors Inc. acquired a new position in UnitedHealth Group during the 1st quarter valued at about $28,000. Strategic Investment Solutions Inc. IL acquired a new position in UnitedHealth Group during the 1st quarter valued at about $35,000. Clear Investment Research LLC increased its position in UnitedHealth Group by 216.7% during the 1st quarter. Clear Investment Research LLC now owns 76 shares of the healthcare conglomerate’s stock valued at $36,000 after buying an additional 52 shares in the last quarter. Finally, WFA of San Diego LLC acquired a new position in UnitedHealth Group during the 2nd quarter valued at about $39,000. 85.69% of the stock is currently owned by hedge funds and other institutional investors.

UnitedHealth Group Price Performance

UNH stock traded down $2.10 during mid-day trading on Wednesday, reaching $548.16. 545,407 shares of the company’s stock were exchanged, compared to its average volume of 3,273,141. The company has a market cap of $507.00 billion, a price-to-earnings ratio of 23.88, a price-to-earnings-growth ratio of 1.66 and a beta of 0.61. The stock’s 50 day moving average is $532.22 and its 200 day moving average is $503.31. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.80 and a quick ratio of 0.80. UnitedHealth Group Incorporated has a 12-month low of $445.68 and a 12-month high of $554.70.

UnitedHealth Group (NYSE:UNH – Get Free Report) last released its earnings results on Friday, October 13th. The healthcare conglomerate reported $6.56 earnings per share for the quarter, beating the consensus estimate of $6.33 by $0.23. The business had revenue of $92.36 billion for the quarter, compared to the consensus estimate of $91.41 billion. UnitedHealth Group had a return on equity of 26.58% and a net margin of 6.02%. The business’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the business posted $5.79 earnings per share. On average, research analysts expect that UnitedHealth Group Incorporated will post 24.94 EPS for the current year.

UnitedHealth Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Monday, December 4th will be given a dividend of $1.88 per share. The ex-dividend date is Friday, December 1st. This represents a $7.52 dividend on an annualized basis and a yield of 1.37%. UnitedHealth Group’s payout ratio is 32.64%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on UNH shares. UBS Group raised UnitedHealth Group from a “neutral” rating to a “buy” rating and increased their price objective for the company from $520.00 to $640.00 in a report on Monday, October 16th. Cantor Fitzgerald reissued an “overweight” rating and issued a $591.00 price objective on shares of UnitedHealth Group in a report on Tuesday, November 21st. Truist Financial reissued a “buy” rating and issued a $610.00 price objective on shares of UnitedHealth Group in a report on Thursday, November 30th. Piper Sandler increased their price objective on UnitedHealth Group from $580.00 to $584.00 and gave the company an “overweight” rating in a report on Monday, October 16th. Finally, StockNews.com lowered UnitedHealth Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 21st. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, UnitedHealth Group presently has a consensus rating of “Moderate Buy” and an average price target of $579.65.

Check Out Our Latest Stock Analysis on UnitedHealth Group

Insider Buying and Selling

In related news, Director Stephen J. Hemsley sold 121,515 shares of UnitedHealth Group stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $540.58, for a total transaction of $65,688,578.70. Following the transaction, the director now owns 521,818 shares in the company, valued at $282,084,374.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Stephen J. Hemsley sold 121,515 shares of UnitedHealth Group stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $540.58, for a total transaction of $65,688,578.70. Following the transaction, the director now owns 521,818 shares in the company, valued at $282,084,374.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Erin Mcsweeney sold 4,498 shares of the firm’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $544.28, for a total value of $2,448,171.44. Following the sale, the executive vice president now directly owns 9,218 shares of the company’s stock, valued at approximately $5,017,173.04. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by company insiders.

About UnitedHealth Group

(Free Report)

UnitedHealth Group Incorporated operates as a diversified health care company in the United States. It 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.

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