Mackenzie Financial Corp Buys 170,905 Shares of UnitedHealth Group Incorporated $UNH

by · The Cerbat Gem

Mackenzie Financial Corp grew its stake in UnitedHealth Group Incorporated (NYSE:UNH – Free Report) by 27.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 799,673 shares of the healthcare conglomerate’s stock after buying an additional 170,905 shares during the period. Mackenzie Financial Corp’s holdings in UnitedHealth Group were worth $249,474,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in UnitedHealth Group by 6.6% during the first quarter. Vanguard Group Inc. now owns 90,729,585 shares of the healthcare conglomerate’s stock worth $47,519,620,000 after purchasing an additional 5,583,343 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of UnitedHealth Group by 10.6% during the 1st quarter. Wellington Management Group LLP now owns 25,847,940 shares of the healthcare conglomerate’s stock valued at $13,537,859,000 after buying an additional 2,486,839 shares in the last quarter. Geode Capital Management LLC boosted its stake in UnitedHealth Group by 3.3% in the second quarter. Geode Capital Management LLC now owns 21,312,182 shares of the healthcare conglomerate’s stock worth $6,624,411,000 after buying an additional 675,075 shares in the last quarter. Norges Bank purchased a new position in shares of UnitedHealth Group during the second quarter worth approximately $3,837,207,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of UnitedHealth Group by 6.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 7,502,469 shares of the healthcare conglomerate’s stock valued at $2,340,346,000 after purchasing an additional 432,084 shares in the last quarter. 87.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on UNH. UBS Group boosted their price target on shares of UnitedHealth Group from $378.00 to $430.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Piper Sandler dropped their target price on UnitedHealth Group from $423.00 to $417.00 and set an “overweight” rating for the company in a report on Tuesday, October 28th. Morgan Stanley boosted their price objective on UnitedHealth Group from $325.00 to $395.00 and gave the company an “overweight” rating in a research report on Friday, September 12th. KeyCorp lifted their target price on shares of UnitedHealth Group from $350.00 to $400.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of UnitedHealth Group from a “buy” rating to a “hold” rating and set a $333.00 price target on the stock. in a report on Wednesday, October 29th. Eighteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $397.12.

Read Our Latest Analysis on UnitedHealth Group

UnitedHealth Group Stock Performance

NYSE:UNH opened at $329.75 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.82 and a debt-to-equity ratio of 0.71. UnitedHealth Group Incorporated has a twelve month low of $234.60 and a twelve month high of $622.83. The stock has a market cap of $298.70 billion, a P/E ratio of 17.21, a price-to-earnings-growth ratio of 2.28 and a beta of 0.47. The firm’s fifty day simple moving average is $343.37 and its 200 day simple moving average is $314.87.

UnitedHealth Group (NYSE:UNH – Get Free Report) last announced its earnings results on Tuesday, October 28th. The healthcare conglomerate reported $2.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.87 by $0.05. UnitedHealth Group had a net margin of 4.04% and a return on equity of 19.23%. The firm had revenue of $113.16 billion for the quarter, compared to analyst estimates of $113.19 billion. During the same quarter in the previous year, the firm posted $7.15 EPS. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. As a group, research analysts predict that UnitedHealth Group Incorporated will post 29.54 EPS for the current year.

UnitedHealth Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 16th. Investors of record on Monday, December 8th will be paid a $2.21 dividend. This represents a $8.84 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Monday, December 8th. UnitedHealth Group’s dividend payout ratio is presently 46.14%.

About UnitedHealth Group

(Free Report)

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.

Further Reading

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