Union Savings Bank has decreased its holdings in UnitedHealth Group Incorporated (NYSE: UNH) by 27.8% during the second quarter of 2023, according to its latest filing with the Securities and Exchange Commission. Following the sale of 180 shares, the bank now owns a total of 467 shares, valued at approximately $146,000.
Several other large investors have also adjusted their positions in recent months. Caitlin John LLC increased its stake in UnitedHealth Group by 14.8% during the first quarter, bringing its total shares to 862, worth around $451,000 after acquiring an additional 111 shares. Similarly, Murphy Pohlad Asset Management LLC boosted its stake by 21.8% in the second quarter, now holding 4,425 shares valued at $1.38 million after purchasing 791 shares.
Triumph Capital Management made a new investment in UnitedHealth Group during this period, valued at about $1.32 million. Wealth Effects LLC also raised its stake by 14.4%, owning 4,688 shares worth $1.46 million after adding 591 shares. Towercrest Capital Management entered the market with a new stake valued at $236,000. Currently, institutional investors and hedge funds hold approximately 87.86% of UnitedHealth Group’s stock.
Market Performance and Dividend Announcement
As for market performance, shares of UnitedHealth Group opened at $321.44 on Friday, reflecting a decrease of 3.3%. The company’s market capitalization stands at $291.17 billion, with a price-to-earnings ratio of 16.78 and a beta of 0.47. The stock has fluctuated within a 52-week range of $234.60 to $622.83.
In a recent announcement, UnitedHealth Group declared a quarterly dividend of $2.21 per share, scheduled for payment on December 16, 2023. Shareholders on record as of December 8, 2023 will be eligible for this dividend, leading to an annualized payout of $8.84, which represents a yield of 2.8%. The company’s current payout ratio is 46.14%.
Analyst Ratings and Future Outlook
A number of research analysts have recently provided insights into UnitedHealth Group’s stock. Wells Fargo & Company raised their target price from $267.00 to $400.00, maintaining an “overweight” rating as of October 7, 2023. JPMorgan Chase & Co. also increased their price objective from $310.00 to $425.00, reiterating an “overweight” rating on October 9, 2023.
The Goldman Sachs Group initiated coverage of UnitedHealth Group with a “buy” rating and a target price of $406.00 on October 14, 2023. Weiss Ratings upgraded the stock from a “sell (d+)” rating to a “hold (c-)” rating on October 24, 2023, while Zacks Research improved its rating from “strong sell” to “hold” on October 6, 2023.
Currently, eighteen analysts rate the stock as a buy, nine as a hold, and three as a sell, leading to an average rating of “Moderate Buy” and a target price of $397.12, according to MarketBeat.
UnitedHealth Group operates as a diversified healthcare company in the United States, with segments including UnitedHealthcare, Optum Health, Optum Insight, and Optum Rx. Its services range from consumer-oriented health benefit plans to healthcare coverage for economically disadvantaged populations.
