Shum Financial Group Inc. Invests $2.08 Million in UnitedHealth Group Incorporated (NYSE:UNH)

Shum Financial Group Inc. bought a new position in UnitedHealth Group Incorporated (NYSE:UNH) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,675 shares of the healthcare conglomerate’s stock, valued at approximately $2,084,000. UnitedHealth Group accounts for 1.7% of Shum Financial Group Inc.’s investment portfolio, making the stock its 19th biggest holding.

A number of other institutional investors also recently modified their holdings of UNH. Bank of New York Mellon Corp lifted its stake in shares of UnitedHealth Group by 0.4% during 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 acquiring an additional 35,533 shares during the period. International Assets Investment Management LLC grew its position 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 buying an additional 5,290,025 shares during the period. Dimensional Fund Advisors LP raised its stake in UnitedHealth Group by 30.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,816,254 shares of the healthcare conglomerate’s stock worth $1,942,956,000 after buying an additional 880,183 shares during the period. Ameriprise Financial Inc. lifted its stake in UnitedHealth Group by 0.6% in the second quarter. Ameriprise Financial Inc. now owns 3,772,487 shares of the healthcare conglomerate’s stock valued at $1,920,039,000 after buying an additional 21,149 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in shares of UnitedHealth Group by 3.5% in the third quarter. Fisher Asset Management LLC now owns 3,197,167 shares of the healthcare conglomerate’s stock valued at $1,869,320,000 after purchasing an additional 107,097 shares in the last quarter. Institutional investors own 87.86% of the company’s stock.

Wall Street Analysts Forecast Growth

UNH has been the topic of several recent research reports. Barclays lowered their price target on shares of UnitedHealth Group from $604.00 to $603.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. HSBC cut UnitedHealth Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. Hsbc Global Res cut UnitedHealth Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 17th. Truist Financial restated a “buy” rating and set a $625.00 target price (down from $640.00) on shares of UnitedHealth Group in a report on Wednesday, October 16th. Finally, Royal Bank of Canada decreased their price objective on shares of UnitedHealth Group from $615.00 to $595.00 and set an “outperform” rating for the company in a research report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $615.53.

UnitedHealth Group Stock Performance

Shares of NYSE UNH traded down $1.22 during mid-day trading on Tuesday, reaching $604.61. 165,987 shares of the company’s stock were exchanged, compared to its average volume of 3,860,892. The firm has a market capitalization of $556.41 billion, a price-to-earnings ratio of 39.45, a price-to-earnings-growth ratio of 1.73 and a beta of 0.58. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.91 and a quick ratio of 0.91. UnitedHealth Group Incorporated has a 52 week low of $436.38 and a 52 week high of $630.73. The firm has a 50-day moving average price of $582.96 and a two-hundred day moving average price of $553.99.

UnitedHealth Group (NYSE:UNH) last posted its quarterly earnings data 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 business had revenue of $100.82 billion for the quarter, compared to the consensus estimate of $99.14 billion. UnitedHealth Group had a return on equity of 26.37% and a net margin of 3.63%. 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 business earned $6.56 earnings per share. Analysts predict that UnitedHealth Group Incorporated will post 27.6 EPS for the current year.

UnitedHealth Group Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, December 9th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 1.39%. UnitedHealth Group’s dividend payout ratio (DPR) is currently 54.72%.

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.