Bridgeway Capital Management LLC Buys 29,334 Shares of UnitedHealth Group Incorporated $UNH

Bridgeway Capital Management LLC raised its position in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 80.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 65,784 shares of the healthcare conglomerate’s stock after acquiring an additional 29,334 shares during the quarter. UnitedHealth Group makes up approximately 0.5% of Bridgeway Capital Management LLC’s holdings, making the stock its 28th largest position. Bridgeway Capital Management LLC’s holdings in UnitedHealth Group were worth $20,523,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in UNH. Wellington Management Group LLP lifted its position in UnitedHealth Group by 10.6% during the first quarter. Wellington Management Group LLP now owns 25,847,940 shares of the healthcare conglomerate’s stock valued at $13,537,859,000 after buying an additional 2,486,839 shares during the period. Geode Capital Management LLC lifted its position in UnitedHealth Group by 3.3% during the 2nd quarter. Geode Capital Management LLC now owns 21,312,182 shares of the healthcare conglomerate’s stock valued at $6,624,411,000 after acquiring an additional 675,075 shares during the period. Norges Bank purchased a new stake in UnitedHealth Group in the second quarter worth about $3,837,207,000. Dodge & Cox lifted its holdings in shares of UnitedHealth Group by 117.7% during the second quarter. Dodge & Cox now owns 8,750,560 shares of the healthcare conglomerate’s stock valued at $2,729,912,000 after purchasing an additional 4,730,192 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of UnitedHealth Group by 6.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 7,502,469 shares of the healthcare conglomerate’s stock worth $2,340,346,000 after buying an additional 432,084 shares during the last quarter. 87.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on UNH shares. Morgan Stanley increased their target price on UnitedHealth Group from $325.00 to $395.00 and gave the stock an “overweight” rating in a research note on Friday, September 12th. UBS Group increased their price objective on shares of UnitedHealth Group from $378.00 to $430.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Truist Financial upped their target price on shares of UnitedHealth Group from $310.00 to $365.00 and gave the stock a “buy” rating in a research note on Tuesday, September 9th. Sanford C. Bernstein boosted their price objective on shares of UnitedHealth Group from $433.00 to $440.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Finally, TD Cowen lifted their target price on UnitedHealth Group from $335.00 to $338.00 and gave the stock a “hold” rating in a report on Thursday, October 30th. Seventeen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $385.54.

UnitedHealth Group Stock Performance

Shares of UNH opened at $341.83 on Friday. UnitedHealth Group Incorporated has a one year low of $234.60 and a one year high of $606.36. The business has a fifty day moving average of $339.84 and a 200 day moving average of $316.91. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $309.65 billion, a P/E ratio of 17.84, a PEG ratio of 2.20 and a beta of 0.43.

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

UnitedHealth Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Monday, December 8th will be paid a dividend of $2.21 per share. This represents a $8.84 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Monday, December 8th. UnitedHealth Group’s dividend payout ratio (DPR) is currently 46.14%.

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.