UnitedHealth Group Incorporated $UNH Shares Bought by Sumitomo Mitsui Financial Group Inc.

Sumitomo Mitsui Financial Group Inc. raised its position in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 57.6% in the second quarter, HoldingsChannel.com reports. The firm owned 70,910 shares of the healthcare conglomerate’s stock after buying an additional 25,920 shares during the period. Sumitomo Mitsui Financial Group Inc.’s holdings in UnitedHealth Group were worth $22,122,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its holdings in shares of UnitedHealth Group by 176.2% during the fourth quarter. Brighton Jones LLC now owns 44,249 shares of the healthcare conglomerate’s stock valued at $22,384,000 after purchasing an additional 28,231 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in UnitedHealth Group by 137.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 4,019 shares of the healthcare conglomerate’s stock valued at $2,033,000 after buying an additional 2,324 shares in the last quarter. Ted Buchan & Co raised its holdings in shares of UnitedHealth Group by 4.0% during the first quarter. Ted Buchan & Co now owns 5,900 shares of the healthcare conglomerate’s stock valued at $3,090,000 after acquiring an additional 229 shares during the period. N.E.W. Advisory Services LLC boosted its stake in UnitedHealth Group by 9.7% in the 1st quarter. N.E.W. Advisory Services LLC now owns 520 shares of the healthcare conglomerate’s stock worth $273,000 after purchasing an additional 46 shares during the period. Finally, Federated Hermes Inc. raised its position in UnitedHealth Group by 25.2% during the first quarter. Federated Hermes Inc. now owns 116,837 shares of the healthcare conglomerate’s stock valued at $61,194,000 after buying an additional 23,551 shares during the period. 87.86% of the stock is currently owned by institutional investors.

UnitedHealth Group Stock Performance

NYSE UNH opened at $329.78 on Thursday. The company’s fifty day moving average is $343.60 and its two-hundred day moving average is $315.11. The firm has a market capitalization of $298.73 billion, a price-to-earnings ratio of 17.21, a P/E/G ratio of 2.28 and a beta of 0.47. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.82 and a quick ratio of 0.85. UnitedHealth Group Incorporated has a 52-week low of $234.60 and a 52-week high of $622.83.

UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings results on Tuesday, October 28th. The healthcare conglomerate reported $2.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.87 by $0.05. UnitedHealth Group had a return on equity of 19.23% and a net margin of 4.04%.The firm had revenue of $113.16 billion for the quarter, compared to analyst estimates of $113.19 billion. During the same period in the previous year, the company posted $7.15 earnings per share. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. Equities research analysts forecast 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. Stockholders of record on Monday, December 8th will be paid a $2.21 dividend. The ex-dividend date is Monday, December 8th. This represents a $8.84 dividend on an annualized basis and a dividend yield of 2.7%. UnitedHealth Group’s dividend payout ratio is currently 46.14%.

Wall Street Analysts Forecast Growth

UNH has been the topic of several research reports. TD Cowen upped their price objective on shares of UnitedHealth Group from $335.00 to $338.00 and gave the company a “hold” rating in a research note on Thursday, October 30th. Zacks Research raised shares of UnitedHealth Group from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Piper Sandler decreased their price target on UnitedHealth Group from $423.00 to $417.00 and set an “overweight” rating for the company in a research note on Tuesday, October 28th. Truist Financial upped their target price on UnitedHealth Group from $310.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, September 9th. Finally, Wells Fargo & Company boosted their price objective on shares of UnitedHealth Group from $267.00 to $400.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 7th. Eighteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $397.12.

About UnitedHealth Group

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.