Investment Management Corp of Ontario Purchases 9,900 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Investment Management Corp of Ontario raised its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 48.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,521 shares of the healthcare conglomerate’s stock after purchasing an additional 9,900 shares during the period. Investment Management Corp of Ontario’s holdings in UnitedHealth Group were worth $17,845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Apella Capital LLC grew its stake in shares of UnitedHealth Group by 37.3% in the second quarter. Apella Capital LLC now owns 1,120 shares of the healthcare conglomerate’s stock worth $551,000 after acquiring an additional 304 shares in the last quarter. Thomasville National Bank raised its stake in shares of UnitedHealth Group by 3.3% in the 2nd quarter. Thomasville National Bank now owns 1,318 shares of the healthcare conglomerate’s stock valued at $671,000 after purchasing an additional 42 shares in the last quarter. Cullinan Associates Inc. lifted its holdings in UnitedHealth Group by 25.8% in the 2nd quarter. Cullinan Associates Inc. now owns 20,952 shares of the healthcare conglomerate’s stock valued at $10,670,000 after acquiring an additional 4,298 shares during the last quarter. Matrix Trust Co boosted its holdings in UnitedHealth Group by 5.7% in the second quarter. Matrix Trust Co now owns 3,352 shares of the healthcare conglomerate’s stock worth $1,707,000 after purchasing an additional 181 shares in the last quarter. Finally, RDA Financial Network raised its stake in UnitedHealth Group by 4.3% during the second quarter. RDA Financial Network now owns 8,866 shares of the healthcare conglomerate’s stock worth $4,515,000 after acquiring an additional 363 shares in the last quarter. Hedge funds and other institutional investors own 87.86% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on UNH shares. Deutsche Bank Aktiengesellschaft raised their price target on UnitedHealth Group from $595.00 to $625.00 and gave the company a “buy” rating in a report on Tuesday. KeyCorp initiated coverage on shares of UnitedHealth Group in a research report on Friday, October 11th. They set an “overweight” rating and a $675.00 price target for the company. Morgan Stanley cut their price target on UnitedHealth Group from $615.00 to $610.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Bank of America reduced their price objective on UnitedHealth Group from $675.00 to $650.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada dropped their price target on UnitedHealth Group from $615.00 to $595.00 and set an “outperform” rating for the company in a research report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $621.58.

UnitedHealth Group Price Performance

Shares of NYSE:UNH opened at $608.52 on Tuesday. UnitedHealth Group Incorporated has a fifty-two week low of $436.38 and a fifty-two week high of $630.73. The firm has a 50-day simple moving average of $585.43 and a 200 day simple moving average of $556.65. The company has a market cap of $560.01 billion, a PE ratio of 39.64, a P/E/G ratio of 1.79 and a beta of 0.58. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.74.

UnitedHealth Group (NYSE:UNH) last released its earnings results on Tuesday, October 15th. The healthcare conglomerate reported $7.15 EPS for the quarter, beating the consensus estimate of $7.00 by $0.15. UnitedHealth Group had a return on equity of 26.37% and a net margin of 3.63%. The company had revenue of $100.82 billion during the quarter, compared to analysts’ expectations of $99.14 billion. During the same period last year, the firm earned $6.56 EPS. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. On average, sell-side analysts anticipate that UnitedHealth Group Incorporated will post 27.6 EPS for the current year.

UnitedHealth Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.38%. UnitedHealth Group’s dividend payout ratio is presently 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.