Fortis Capital Management LLC Has $5.22 Million Stake in UnitedHealth Group Incorporated (NYSE:UNH)

Fortis Capital Management LLC grew its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 4.2% in the third quarter, HoldingsChannel.com reports. The fund owned 8,920 shares of the healthcare conglomerate’s stock after acquiring an additional 357 shares during the quarter. UnitedHealth Group comprises about 1.1% of Fortis Capital Management LLC’s investment portfolio, making the stock its 22nd biggest position. Fortis Capital Management LLC’s holdings in UnitedHealth Group were worth $5,216,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Tealwood Asset Management Inc. bought a new stake in shares of UnitedHealth Group during the 3rd quarter worth $2,905,000. Asset Planning Services Inc. LA ADV grew its holdings in shares of UnitedHealth Group by 1.2% during the 3rd quarter. Asset Planning Services Inc. LA ADV now owns 12,465 shares of the healthcare conglomerate’s stock valued at $7,288,000 after purchasing an additional 150 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in UnitedHealth Group by 13.7% in the third quarter. Sequoia Financial Advisors LLC now owns 24,976 shares of the healthcare conglomerate’s stock valued at $14,603,000 after buying an additional 3,006 shares in the last quarter. Americana Partners LLC increased its holdings in UnitedHealth Group by 10.8% in the 3rd quarter. Americana Partners LLC now owns 20,377 shares of the healthcare conglomerate’s stock worth $11,914,000 after purchasing an additional 1,984 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its position in UnitedHealth Group by 14.8% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 9,960 shares of the healthcare conglomerate’s stock valued at $5,072,000 after acquiring an additional 1,283 shares during the period. 87.86% of the stock is currently owned by institutional investors and hedge funds.

UnitedHealth Group Trading Down 1.4 %

Shares of UnitedHealth Group stock opened at $605.88 on Thursday. The company’s 50-day moving average price is $582.95 and its 200-day moving average price is $547.62. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.74. The company has a market cap of $557.58 billion, a price-to-earnings ratio of 39.47, a PEG ratio of 1.80 and a beta of 0.58. UnitedHealth Group Incorporated has a 12-month low of $436.38 and a 12-month high of $630.73.

UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings data on Tuesday, October 15th. The healthcare conglomerate reported $7.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.00 by $0.15. The company had revenue of $100.82 billion for the quarter, compared to the consensus estimate of $99.14 billion. UnitedHealth Group had a return on equity of 26.37% and a net margin of 3.63%. The firm’s revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the business posted $6.56 earnings per share. On average, equities analysts expect that UnitedHealth Group Incorporated will post 27.61 earnings per share for the current fiscal year.

UnitedHealth Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Monday, December 9th will be paid a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Monday, December 9th. UnitedHealth Group’s dividend payout ratio (DPR) is 54.72%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Royal Bank of Canada lowered their target price 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. Argus upped their target price on UnitedHealth Group from $570.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Wells Fargo & Company increased their price target on UnitedHealth Group from $525.00 to $630.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Barclays reduced their target price on UnitedHealth Group from $604.00 to $603.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Finally, Truist Financial reaffirmed a “buy” rating and set a $625.00 target price (down from $640.00) on shares of UnitedHealth Group in a research report on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, UnitedHealth Group presently has an average rating of “Moderate Buy” and a consensus 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.