Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Position in UnitedHealth Group Incorporated (NYSE:UNH)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 7.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 625,411 shares of the healthcare conglomerate’s stock after purchasing an additional 45,195 shares during the period. UnitedHealth Group makes up approximately 1.1% of Zurcher Kantonalbank Zurich Cantonalbank’s investment portfolio, making the stock its 11th largest position. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in UnitedHealth Group were worth $365,665,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in UNH. International Assets Investment Management LLC grew its holdings in shares of UnitedHealth Group by 78,814.4% in the third quarter. International Assets Investment Management LLC now owns 5,296,737 shares of the healthcare conglomerate’s stock valued at $3,096,896,000 after purchasing an additional 5,290,025 shares in the last quarter. Lone Pine Capital LLC acquired a new stake in shares of UnitedHealth Group in the second quarter valued at $480,903,000. Dimensional Fund Advisors LP grew its stake in UnitedHealth Group by 30.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,816,254 shares of the healthcare conglomerate’s stock worth $1,942,956,000 after purchasing an additional 880,183 shares in the last quarter. Baillie Gifford & Co. boosted its stake in shares of UnitedHealth Group by 1,125.4% in the 2nd quarter. Baillie Gifford & Co. now owns 894,006 shares of the healthcare conglomerate’s stock valued at $455,281,000 after buying an additional 821,050 shares during the period. Finally, Accredited Investors Inc. increased its stake in shares of UnitedHealth Group by 9,235.4% during the third quarter. Accredited Investors Inc. now owns 784,924 shares of the healthcare conglomerate’s stock worth $458,929,000 after buying an additional 776,516 shares during the period. Hedge funds and other institutional investors own 87.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on UNH shares. Truist Financial reissued a “buy” rating and issued a $625.00 price objective (down from $640.00) on shares of UnitedHealth Group in a research report on Wednesday, October 16th. TD Cowen raised their price target on UnitedHealth Group from $601.00 to $609.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Cantor Fitzgerald increased their price objective on UnitedHealth Group from $591.00 to $644.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Royal Bank of Canada lowered their price target on UnitedHealth Group from $615.00 to $595.00 and set an “outperform” rating for the company in a report on Wednesday, October 16th. Finally, UBS Group reduced their price objective on shares of UnitedHealth Group from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $618.26.

UnitedHealth Group Price Performance

Shares of NYSE UNH opened at $608.38 on Thursday. The company has a market cap of $559.88 billion, a PE ratio of 39.63, a P/E/G ratio of 1.78 and a beta of 0.58. 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 1-year low of $436.38 and a 1-year high of $630.73. The stock has a fifty day moving average price of $584.09 and a 200 day moving average price of $555.02.

UnitedHealth Group (NYSE:UNH) last posted its quarterly 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 during the quarter, compared to the consensus estimate of $99.14 billion. During the same period last year, the firm earned $6.56 EPS. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. Sell-side analysts forecast that UnitedHealth Group Incorporated will post 27.6 EPS for the current year.

UnitedHealth Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Monday, December 9th will be given 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 1.38%. UnitedHealth Group’s dividend payout ratio is currently 54.72%.

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.