Connective Portfolio Management LLC Invests $794,000 in UnitedHealth Group Incorporated $UNH

Connective Portfolio Management LLC purchased a new stake in shares of UnitedHealth Group Incorporated (NYSE:UNH) in the third quarter, according to the company in its most recent filing with the SEC. The fund purchased 2,300 shares of the healthcare conglomerate’s stock, valued at approximately $794,000. UnitedHealth Group comprises 1.4% of Connective Portfolio Management LLC’s investment portfolio, making the stock its 28th largest position.

A number of other large investors also recently modified their holdings of UNH. Norges Bank bought a new position in UnitedHealth Group during the 2nd quarter valued at $3,837,207,000. Berkshire Hathaway Inc purchased a new position in UnitedHealth Group during the second quarter worth about $1,572,193,000. Dodge & Cox increased its stake in UnitedHealth Group by 117.7% in the 2nd quarter. Dodge & Cox now owns 8,750,560 shares of the healthcare conglomerate’s stock valued at $2,729,912,000 after buying an additional 4,730,192 shares during the last quarter. Lone Pine Capital LLC purchased a new position in shares of UnitedHealth Group in the 2nd quarter worth approximately $528,273,000. Finally, Amundi increased its position in shares of UnitedHealth Group by 33.8% during the second quarter. Amundi now owns 6,191,871 shares of the healthcare conglomerate’s stock valued at $1,904,372,000 after acquiring an additional 1,565,245 shares during the last quarter. Institutional investors own 87.86% of the company’s stock.

UnitedHealth Group Stock Performance

NYSE:UNH opened at $331.76 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $300.52 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 2.13 and a beta of 0.43. UnitedHealth Group Incorporated has a 52-week low of $234.60 and a 52-week high of $606.36. The business’s fifty day moving average is $333.71 and its 200 day moving average is $318.99.

UnitedHealth Group (NYSE:UNH) last announced its quarterly earnings results on Tuesday, October 28th. The healthcare conglomerate reported $2.92 earnings per share for the quarter, beating the consensus estimate of $2.87 by $0.05. The firm had revenue of $113.16 billion for the quarter, compared to analysts’ expectations of $113.19 billion. UnitedHealth Group had a return on equity of 19.23% and a net margin of 4.04%.The company’s revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the business posted $7.15 earnings per share. Research analysts predict that UnitedHealth Group Incorporated will post 29.54 EPS for the current year.

UnitedHealth Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 16th. Stockholders of record on Monday, December 8th were issued a $2.21 dividend. The ex-dividend date of this dividend was Monday, December 8th. This represents a $8.84 annualized dividend and a dividend yield of 2.7%. UnitedHealth Group’s dividend payout ratio is presently 46.14%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. TD Cowen raised their target price on UnitedHealth Group from $335.00 to $338.00 and gave the company a “hold” rating in a research report on Thursday, October 30th. Sanford C. Bernstein lifted their price objective on shares of UnitedHealth Group from $433.00 to $440.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Mizuho raised their price target on shares of UnitedHealth Group from $300.00 to $430.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Bank of America upped their price objective on UnitedHealth Group from $350.00 to $390.00 and gave the company a “neutral” rating in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company boosted their target price on UnitedHealth Group from $267.00 to $400.00 and gave the company an “overweight” rating in a research note on Tuesday, October 7th. Seventeen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $385.54.

UnitedHealth Group Profile

UnitedHealth Group Inc is a diversified health care company headquartered in Minnetonka, Minnesota, that operates two primary business platforms: UnitedHealthcare and Optum. Founded in 1977, the company provides a broad range of health benefits and health care services to individuals, employers, governmental entities and other organizations. Its operations span commercial employer-sponsored plans, individual and Medicare and Medicaid programs, and services for customers and health systems in the United States and selected international markets.

UnitedHealthcare is the company’s benefits business, administering health plans and networks, managing provider relationships, and offering coverage products for employers, individuals, and government-sponsored programs.