Assenagon Asset Management S.A. Reduces Position in UnitedHealth Group Incorporated (NYSE:UNH)

Assenagon Asset Management S.A. decreased its holdings in UnitedHealth Group Incorporated (NYSE:UNH) by 51.2% in the third quarter, Holdings Channel reports. The fund owned 371,183 shares of the healthcare conglomerate’s stock after selling 389,210 shares during the period. Assenagon Asset Management S.A.’s holdings in UnitedHealth Group were worth $217,023,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in UNH. Vanguard Group Inc. grew its stake in shares of UnitedHealth Group by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 84,405,255 shares of the healthcare conglomerate’s stock valued at $41,755,280,000 after buying an additional 544,740 shares during the period. Price T Rowe Associates Inc. MD grew its position in UnitedHealth Group by 0.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 26,062,928 shares of the healthcare conglomerate’s stock worth $12,893,331,000 after acquiring an additional 94,641 shares during the period. Bank of New York Mellon Corp raised its position in UnitedHealth Group by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 8,039,601 shares of the healthcare conglomerate’s stock valued at $4,094,247,000 after purchasing an additional 35,533 shares during the period. International Assets Investment Management LLC grew its holdings in shares of UnitedHealth Group by 78,814.4% during the 3rd quarter. International Assets Investment Management LLC now owns 5,296,737 shares of the healthcare conglomerate’s stock worth $3,096,896,000 after purchasing an additional 5,290,025 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in UnitedHealth Group by 30.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,816,254 shares of the healthcare conglomerate’s stock valued at $1,942,956,000 after buying an additional 880,183 shares during the period. 87.86% of the stock is currently owned by institutional investors and hedge funds.

UnitedHealth Group Stock Performance

NYSE UNH opened at $560.82 on Friday. The company has a fifty day moving average of $584.16 and a two-hundred day moving average of $536.49. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.91 and a quick ratio of 0.88. UnitedHealth Group Incorporated has a 1 year low of $436.38 and a 1 year high of $608.63. The company has a market capitalization of $517.87 billion, a PE ratio of 36.54, a P/E/G ratio of 1.67 and a beta of 0.58.

UnitedHealth Group (NYSE:UNH) last released its quarterly earnings results on Tuesday, October 15th. The healthcare conglomerate reported $7.15 EPS for the quarter, beating the consensus estimate of $7.00 by $0.15. The firm had revenue of $100.82 billion during the quarter, compared to the consensus estimate of $99.14 billion. UnitedHealth Group had a net margin of 3.63% and a return on equity of 26.37%. UnitedHealth Group’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.56 EPS. As a group, analysts expect that UnitedHealth Group Incorporated will post 27.61 earnings per share for the current year.

UnitedHealth Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 24th. Stockholders of record on Monday, September 16th were paid a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend was Monday, September 16th. UnitedHealth Group’s dividend payout ratio (DPR) is presently 54.72%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on UNH shares. Argus boosted their price target on shares of UnitedHealth Group from $570.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Jefferies Financial Group raised UnitedHealth Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $481.00 to $647.00 in a research note on Wednesday, July 17th. Bank of America decreased their target price on UnitedHealth Group from $675.00 to $650.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Truist Financial reiterated a “buy” rating and set a $625.00 price target (down from $640.00) on shares of UnitedHealth Group in a research note on Wednesday, October 16th. Finally, Robert W. Baird lifted their price objective on shares of UnitedHealth Group from $597.00 to $640.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $615.53.

UnitedHealth Group Company 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.