Chesapeake Capital Corp IL Acquires New Position in UnitedHealth Group Incorporated (NYSE:UNH)

Chesapeake Capital Corp IL purchased a new position in UnitedHealth Group Incorporated (NYSE:UNH) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 883 shares of the healthcare conglomerate’s stock, valued at approximately $516,000.

Other large investors have also bought and sold shares of the company. China Universal Asset Management Co. Ltd. boosted its holdings in UnitedHealth Group by 20.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 10,867 shares of the healthcare conglomerate’s stock worth $5,376,000 after acquiring an additional 1,857 shares in the last quarter. Quent Capital LLC raised its stake in shares of UnitedHealth Group by 5.5% in the first quarter. Quent Capital LLC now owns 4,196 shares of the healthcare conglomerate’s stock worth $2,076,000 after purchasing an additional 217 shares during the last quarter. Connors Investor Services Inc. purchased a new position in shares of UnitedHealth Group in the first quarter worth $201,000. Edgestream Partners L.P. raised its stake in shares of UnitedHealth Group by 314.3% in the first quarter. Edgestream Partners L.P. now owns 6,073 shares of the healthcare conglomerate’s stock worth $3,004,000 after purchasing an additional 4,607 shares during the last quarter. Finally, Hillsdale Investment Management Inc. raised its stake in shares of UnitedHealth Group by 8.0% in the first quarter. Hillsdale Investment Management Inc. now owns 2,923 shares of the healthcare conglomerate’s stock worth $1,446,000 after purchasing an additional 216 shares during the last quarter. 87.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Cantor Fitzgerald upped their price objective on UnitedHealth Group from $591.00 to $644.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. UBS Group reduced their price objective on UnitedHealth Group from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Truist Financial reissued a “buy” rating and set a $625.00 price target (down previously from $640.00) on shares of UnitedHealth Group in a report on Wednesday, October 16th. Stephens cut their price target on UnitedHealth Group from $632.00 to $605.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Finally, Royal Bank of Canada cut their price target on UnitedHealth Group from $615.00 to $595.00 and set an “outperform” rating for the company in a report on Wednesday, October 16th. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $615.53.

UnitedHealth Group Price Performance

Shares of UnitedHealth Group stock opened at $592.23 on Friday. UnitedHealth Group Incorporated has a 12 month low of $436.38 and a 12 month high of $630.73. 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 stock has a 50 day moving average of $582.84 and a 200 day moving average of $549.52. The firm has a market cap of $545.02 billion, a PE ratio of 38.58, a PEG ratio of 1.74 and a beta of 0.58.

UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings results on Tuesday, October 15th. The healthcare conglomerate reported $7.15 earnings per share for the quarter, topping the consensus estimate of $7.00 by $0.15. UnitedHealth Group had a return on equity of 26.37% and a net margin of 3.63%. The firm had revenue of $100.82 billion for the quarter, compared to the consensus estimate of $99.14 billion. During the same period in the prior year, the business posted $6.56 earnings per share. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. On average, research analysts expect that UnitedHealth Group Incorporated will post 27.6 EPS for the current fiscal year.

UnitedHealth Group Dividend Announcement

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

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.