Ilmarinen Mutual Pension Insurance Co Boosts Stake in UnitedHealth Group Incorporated (NYSE:UNH)

Posted by Defense World Staff on Sep 13th, 2023

Ilmarinen Mutual Pension Insurance Co lifted its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH – Free Report) by 20.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 95,700 shares of the healthcare conglomerate’s stock after acquiring an additional 16,000 shares during the quarter. UnitedHealth Group makes up approximately 0.6% of Ilmarinen Mutual Pension Insurance Co’s holdings, making the stock its 13th biggest holding. Ilmarinen Mutual Pension Insurance Co’s holdings in UnitedHealth Group were worth $45,227,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Moneta Group Investment Advisors LLC boosted its stake in shares of UnitedHealth Group by 100,076.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 11,823,820 shares of the healthcare conglomerate’s stock valued at $6,268,753,000 after purchasing an additional 11,812,017 shares in the last quarter. Norges Bank bought a new position in shares of UnitedHealth Group during the fourth quarter valued at approximately $5,210,004,000. Gateway Advisory LLC boosted its stake in UnitedHealth Group by 48,406.9% in the first quarter. Gateway Advisory LLC now owns 4,762,407 shares of the healthcare conglomerate’s stock valued at $4,762,000 after acquiring an additional 4,752,589 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in UnitedHealth Group by 264.2% in the first quarter. Envestnet Asset Management Inc. now owns 5,511,174 shares of the healthcare conglomerate’s stock valued at $732,934,000 after acquiring an additional 3,997,959 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in UnitedHealth Group by 1,682.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,691,542 shares of the healthcare conglomerate’s stock valued at $1,372,606,000 after acquiring an additional 2,540,538 shares in the last quarter. 85.69% of the stock is owned by hedge funds and other institutional investors.

UnitedHealth Group Stock Performance

NYSE:UNH opened at $480.11 on Wednesday. UnitedHealth Group Incorporated has a 1-year low of $445.68 and a 1-year high of $558.10. The company’s 50-day moving average is $491.09 and its two-hundred day moving average is $486.62. The firm has a market capitalization of $444.73 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 1.43 and a beta of 0.66. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.80 and a quick ratio of 0.80.

UnitedHealth Group (NYSE:UNH – Get Free Report) last announced its quarterly earnings data on Friday, July 14th. The healthcare conglomerate reported $6.14 EPS for the quarter, beating analysts’ consensus estimates of $5.92 by $0.22. UnitedHealth Group had a net margin of 6.06% and a return on equity of 26.72%. The company had revenue of $92.90 billion for the quarter, compared to the consensus estimate of $90.97 billion. During the same period in the prior year, the firm posted $5.57 EPS. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. Analysts forecast that UnitedHealth Group Incorporated will post 24.83 EPS for the current year.

UnitedHealth Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Monday, September 11th will be paid a $1.88 dividend. This represents a $7.52 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Friday, September 8th. UnitedHealth Group’s dividend payout ratio (DPR) is presently 33.65%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Royal Bank of Canada lowered their target price on shares of UnitedHealth Group from $592.00 to $572.00 and set an “outperform” rating for the company in a research note on Monday, July 17th. Sanford C. Bernstein upgraded shares of UnitedHealth Group from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $595.00 to $603.00 in a research note on Tuesday, July 18th. Stephens reiterated an “overweight” rating and set a $560.00 price objective on shares of UnitedHealth Group in a research note on Friday, August 11th. UBS Group lifted their price objective on shares of UnitedHealth Group from $510.00 to $520.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 19th. Finally, SVB Securities lowered their price objective on shares of UnitedHealth Group from $625.00 to $560.00 in a research note on Wednesday, June 14th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $575.65.

Check Out Our Latest Report on UnitedHealth Group

Insider Transactions at UnitedHealth Group

In other news, CEO Andrew Witty sold 4,000 shares of the firm’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $506.19, for a total value of $2,024,760.00. Following the completion of the sale, the chief executive officer now owns 78,573 shares in the company, valued at approximately $39,772,866.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.35% of the company’s stock.

About UnitedHealth Group

(Free Report)

UnitedHealth Group Incorporated operates as a diversified health care company in the United States. It 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.