Canopy Partners LLC Buys 81 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Canopy Partners LLC grew its holdings in UnitedHealth Group Incorporated (NYSE:UNH) by 1.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,450 shares of the healthcare conglomerate’s stock after acquiring an additional 81 shares during the quarter. UnitedHealth Group accounts for about 1.1% of Canopy Partners LLC’s investment portfolio, making the stock its 17th largest holding. Canopy Partners LLC’s holdings in UnitedHealth Group were worth $2,602,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Bank of New York Mellon Corp grew its holdings in shares of UnitedHealth Group by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 8,039,601 shares of the healthcare conglomerate’s stock worth $4,094,247,000 after buying an additional 35,533 shares in the last quarter. International Assets Investment Management LLC boosted its position in UnitedHealth Group by 78,814.4% during 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 during the last quarter. Dimensional Fund Advisors LP boosted its position in UnitedHealth Group by 30.0% during the second quarter. Dimensional Fund Advisors LP now owns 3,816,254 shares of the healthcare conglomerate’s stock valued at $1,942,956,000 after purchasing an additional 880,183 shares during the last quarter. Ameriprise Financial Inc. boosted its position in UnitedHealth Group by 0.6% during the second quarter. Ameriprise Financial Inc. now owns 3,772,487 shares of the healthcare conglomerate’s stock valued at $1,920,039,000 after purchasing an additional 21,149 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in UnitedHealth Group by 19.2% during the second quarter. Canada Pension Plan Investment Board now owns 3,129,749 shares of the healthcare conglomerate’s stock valued at $1,593,856,000 after purchasing an additional 504,461 shares during the last quarter. 87.86% of the stock is currently owned by institutional investors.

UnitedHealth Group Stock Performance

Shares of UnitedHealth Group stock opened at $590.77 on Friday. UnitedHealth Group Incorporated has a one year low of $436.38 and a one year high of $630.73. The firm has a market capitalization of $543.67 billion, a price-to-earnings ratio of 38.49, a PEG ratio of 1.75 and a beta of 0.58. The business has a 50-day simple moving average of $582.63 and a 200 day simple moving average of $552.59. 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 (NYSE:UNH) last issued its quarterly earnings data on Tuesday, October 15th. The healthcare conglomerate reported $7.15 EPS for the quarter, topping analysts’ consensus estimates of $7.00 by $0.15. The firm had revenue of $100.82 billion during the quarter, compared to analyst estimates of $99.14 billion. UnitedHealth Group had a return on equity of 26.37% and a net margin of 3.63%. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the previous year, the company posted $6.56 EPS. On average, research analysts anticipate that UnitedHealth Group Incorporated will post 27.6 earnings per share for the current fiscal year.

UnitedHealth Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Monday, December 9th will be paid a $2.10 dividend. The ex-dividend date is Monday, December 9th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 1.42%. UnitedHealth Group’s payout ratio is presently 54.72%.

Analyst Upgrades and Downgrades

UNH has been the subject of a number of recent analyst reports. HSBC cut UnitedHealth Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. Bank of America lowered their target price on UnitedHealth Group from $675.00 to $650.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Hsbc Global Res lowered UnitedHealth Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 17th. Truist Financial restated a “buy” rating and set a $625.00 price objective (down previously from $640.00) on shares of UnitedHealth Group in a research note on Wednesday, October 16th. Finally, Cantor Fitzgerald raised their price objective on UnitedHealth Group from $591.00 to $644.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $615.53.

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.