MassMutual Private Wealth & Trust FSB has reduced its holdings in UnitedHealth Group Incorporated (NYSE: UNH) by 31.6% during the third quarter of 2023. According to a recent filing with the Securities and Exchange Commission, the firm now owns 9,492 shares of the healthcare giant after selling 4,395 shares during this period. The remaining shares are valued at approximately $3.28 million.
Several other institutional investors have also adjusted their positions in UnitedHealth Group. For instance, LFA Lugano Financial Advisors SA acquired a new stake valued at $25,000 in the second quarter. Additionally, Bayforest Capital Ltd increased its holdings by an impressive 685.7% during the first quarter, owning 55 shares worth $29,000 after purchasing an additional 48 shares. Similarly, Sagard Holdings Management Inc. and Islay Capital Management LLC both bought new stakes in the company, valued at approximately $29,000 and $31,000, respectively. Riggs Asset Management Co. Inc. also boosted its holdings by 69.4%, now owning 105 shares valued at $33,000. Overall, institutional investors hold approximately 87.86% of UnitedHealth Group’s stock.
Analyst Ratings and Market Performance
UnitedHealth Group has been featured in various analyst reports recently. On October 29, Deutsche Bank Aktiengesellschaft downgraded its rating from “buy” to “hold,” setting a price target of $333.00. In contrast, TD Cowen raised its price target from $335.00 to $338.00 while maintaining a “hold” rating. UBS Group also increased its price target from $378.00 to $430.00 and assigned a “buy” rating. Meanwhile, Leerink Partners set a target of $410.00 with an “outperform” rating, and Royal Bank of Canada adjusted its price objective from $286.00 to $408.00, also rating the stock as “outperform.”
Currently, one analyst has given UnitedHealth Group a “Strong Buy” rating, while seventeen have assigned a “Buy” rating. Nine analysts issued a “Hold” rating, and three provided a “Sell” rating. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $385.75.
Recent Financial Highlights
UnitedHealth Group’s stock opened at $341.96 on Thursday. The company reported a current ratio of 0.82, a quick ratio of 0.82, and a debt-to-equity ratio of 0.71. Its 50-day moving average stands at $329.42, while the 200-day moving average is $320.61. Over the past year, UnitedHealth’s stock has fluctuated between a low of $234.60 and a high of $606.36. The firm’s market capitalization is approximately $309.76 billion, with a price-to-earnings ratio of 17.85.
On October 28, 2023, UnitedHealth Group announced its latest earnings results. The company reported earnings per share of $2.92, surpassing the consensus estimate of $2.87 by $0.05. Revenue for the quarter reached $113.16 billion, slightly below analysts’ expectations of $113.19 billion. The company’s net profit margin stands at 4.04%, with a return on equity of 19.23%. Compared to the same quarter last year, UnitedHealth’s quarterly revenue increased by 12.2%. Analysts project that the company will achieve an earnings per share of $29.54 for the current fiscal year.
Additionally, UnitedHealth Group announced a quarterly dividend of $2.21, which was paid on December 16, 2023, to shareholders of record as of December 8, 2023. This dividend translates to an annualized payout of $8.84 and a dividend yield of 2.6%. The company’s dividend payout ratio (DPR) is approximately 46.14%.
Founded in 1977 and headquartered in Minnetonka, Minnesota, UnitedHealth Group operates primarily through its two business platforms: UnitedHealthcare and Optum. The company offers a wide range of health benefits and healthcare services to individuals, employers, governmental entities, and other organizations. Its operations include commercial employer-sponsored plans, individual and Medicare and Medicaid programs, as well as services for customers and health systems in the United States and selected international markets.
