Kentucky Retirement Systems Insurance Trust Fund Reduces Holdings in UnitedHealth Group Incorporated (NYSE:UNH)

Kentucky Retirement Systems Insurance Trust Fund reduced its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 7.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,340 shares of the healthcare conglomerate’s stock after selling 2,346 shares during the period. UnitedHealth Group makes up approximately 1.1% of Kentucky Retirement Systems Insurance Trust Fund’s investment portfolio, making the stock its 13th biggest holding. Kentucky Retirement Systems Insurance Trust Fund’s holdings in UnitedHealth Group were worth $15,985,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC lifted its position in UnitedHealth Group by 78,814.4% during the third quarter. International Assets Investment Management LLC now owns 5,296,737 shares of the healthcare conglomerate’s stock valued at $3,096,896,000 after purchasing an additional 5,290,025 shares during the period. Swedbank AB purchased a new position in UnitedHealth Group during the first quarter valued at approximately $1,117,462,000. Lone Pine Capital LLC purchased a new position in shares of UnitedHealth Group during the 2nd quarter valued at approximately $480,903,000. Dimensional Fund Advisors LP lifted its position in shares of UnitedHealth Group by 30.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,816,254 shares of the healthcare conglomerate’s stock valued at $1,942,956,000 after acquiring an additional 880,183 shares in the last quarter. Finally, Baillie Gifford & Co. raised its stake in UnitedHealth Group by 1,125.4% during the second quarter. Baillie Gifford & Co. now owns 894,006 shares of the healthcare conglomerate’s stock worth $455,281,000 after purchasing an additional 821,050 shares during the period. 87.86% of the stock is owned by institutional investors and hedge funds.

UnitedHealth Group Price Performance

UnitedHealth Group stock opened at $592.18 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market capitalization of $544.97 billion, a PE ratio of 38.58, a price-to-earnings-growth ratio of 1.78 and a beta of 0.58. The business has a 50 day simple moving average of $582.84 and a 200 day simple moving average of $549.06. UnitedHealth Group Incorporated has a one year low of $436.38 and a one year high of $630.73.

UnitedHealth Group (NYSE:UNH) last announced its quarterly earnings results on Tuesday, October 15th. The healthcare conglomerate reported $7.15 EPS for the quarter, beating analysts’ consensus estimates of $7.00 by $0.15. UnitedHealth Group had a return on equity of 26.37% and a net margin of 3.63%. The company had revenue of $100.82 billion during the quarter, compared to analysts’ expectations of $99.14 billion. During the same period in the prior year, the business posted $6.56 EPS. UnitedHealth Group’s revenue was up 9.2% on a year-over-year basis. On average, sell-side analysts forecast that UnitedHealth Group Incorporated will post 27.61 EPS for the current fiscal year.

UnitedHealth Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Monday, December 9th will be given a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Monday, December 9th. UnitedHealth Group’s payout ratio is 54.72%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on UNH. Truist Financial restated a “buy” rating and issued a $625.00 price objective (down from $640.00) on shares of UnitedHealth Group in a report on Wednesday, October 16th. Hsbc Global Res downgraded shares of UnitedHealth Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 17th. TD Cowen lifted their price objective on UnitedHealth Group from $601.00 to $609.00 and gave the company a “buy” rating in a research note on Friday, October 18th. UBS Group cut their price target on shares of UnitedHealth Group from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Finally, HSBC downgraded shares of UnitedHealth Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. Three research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, UnitedHealth Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $615.53.

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.