SCS Capital Management LLC Purchases 2,961 Shares of UnitedHealth Group Incorporated $UNH

by · The Cerbat Gem

SCS Capital Management LLC increased its position in UnitedHealth Group Incorporated (NYSE:UNH – Free Report) by 64.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,570 shares of the healthcare conglomerate’s stock after acquiring an additional 2,961 shares during the period. SCS Capital Management LLC’s holdings in UnitedHealth Group were worth $2,362,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Dodge & Cox raised its holdings in shares of UnitedHealth Group by 117.7% during the second quarter. Dodge & Cox now owns 8,750,560 shares of the healthcare conglomerate’s stock valued at $2,729,912,000 after purchasing an additional 4,730,192 shares during the last quarter. Advanced Portfolio Management LLC bought a new stake in UnitedHealth Group during the second quarter valued at approximately $1,560,000. Veltria Advisors Corp. lifted its position in UnitedHealth Group by 10.7% during the second quarter. Veltria Advisors Corp. now owns 1,681 shares of the healthcare conglomerate’s stock valued at $525,000 after purchasing an additional 162 shares in the last quarter. Dynamic Wealth Strategies LLC lifted its holdings in shares of UnitedHealth Group by 43.8% in the second quarter. Dynamic Wealth Strategies LLC now owns 253 shares of the healthcare conglomerate’s stock worth $79,000 after buying an additional 77 shares in the last quarter. Finally, Kilter Group LLC purchased a new position in UnitedHealth Group during the second quarter valued at $34,000. Hedge funds and other institutional investors own 87.86% of the company’s stock.

Wall Street Analysts Forecast Growth

UNH has been the subject of a number of research analyst reports. Zacks Research upgraded UnitedHealth Group from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. UBS Group upped their price objective on UnitedHealth Group from $378.00 to $430.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. JPMorgan Chase & Co. raised their target price on shares of UnitedHealth Group from $310.00 to $425.00 and gave the company an “overweight” rating in a report on Thursday, October 9th. The Goldman Sachs Group started coverage on shares of UnitedHealth Group in a research report on Tuesday, October 14th. They set a “buy” rating and a $406.00 price objective for the company. Finally, Truist Financial boosted their target price on shares of UnitedHealth Group from $310.00 to $365.00 and gave the stock a “buy” rating in a report on Tuesday, September 9th. Seventeen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $385.54.

View Our Latest Research Report on UNH

UnitedHealth Group Trading Down 0.9%

Shares of UNH opened at $330.61 on Friday. UnitedHealth Group Incorporated has a twelve month low of $234.60 and a twelve month high of $606.36. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.71. The company’s fifty day simple moving average is $341.79 and its 200-day simple moving average is $315.93. The company has a market cap of $299.48 billion, a P/E ratio of 17.26, a P/E/G ratio of 2.18 and a beta of 0.43.

UnitedHealth Group (NYSE:UNH – Get Free Report) last posted its quarterly earnings data on Tuesday, October 28th. The healthcare conglomerate reported $2.92 earnings per share for the quarter, topping 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 company had revenue of $113.16 billion for the quarter, compared to analyst estimates of $113.19 billion. During the same period in the prior year, the company posted $7.15 EPS. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. As a group, analysts expect that UnitedHealth Group Incorporated will post 29.54 EPS for the current year.

UnitedHealth Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Monday, December 8th will be given 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 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.

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