Penobscot Investment Management Company Inc. Has $7.49 Million Stock Position in UnitedHealth Group Incorporated $UNH

Penobscot Investment Management Company Inc. boosted its stake in shares of UnitedHealth Group Incorporated (NYSE:UNHFree Report) by 21.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,697 shares of the healthcare conglomerate’s stock after buying an additional 3,774 shares during the period. Penobscot Investment Management Company Inc.’s holdings in UnitedHealth Group were worth $7,492,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bayforest Capital Ltd boosted its position in shares of UnitedHealth Group by 685.7% in the first quarter. Bayforest Capital Ltd now owns 55 shares of the healthcare conglomerate’s stock worth $29,000 after buying an additional 48 shares during the period. LFA Lugano Financial Advisors SA purchased a new position in UnitedHealth Group during the second quarter valued at approximately $25,000. Sagard Holdings Management Inc. acquired a new stake in shares of UnitedHealth Group during the 2nd quarter valued at $29,000. Islay Capital Management LLC acquired a new position in shares of UnitedHealth Group in the second quarter worth $31,000. Finally, Nova Wealth Management Inc. boosted its position in UnitedHealth Group by 339.1% during the first quarter. Nova Wealth Management Inc. now owns 101 shares of the healthcare conglomerate’s stock valued at $53,000 after purchasing an additional 78 shares during the last quarter. Institutional investors and hedge funds own 87.86% of the company’s stock.

UnitedHealth Group Stock Up 1.9%

Shares of UNH opened at $336.34 on Friday. The business’s 50 day simple moving average is $330.58 and its 200-day simple moving average is $319.79. UnitedHealth Group Incorporated has a one year low of $234.60 and a one year high of $606.36. The company has a market capitalization of $304.67 billion, a P/E ratio of 17.55, a PEG ratio of 2.03 and a beta of 0.42. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.82 and a quick ratio of 0.82.

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

UnitedHealth Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 16th. Investors of record on Monday, December 8th were given a $2.21 dividend. The ex-dividend date was Monday, December 8th. This represents a $8.84 annualized dividend and a dividend yield of 2.6%. UnitedHealth Group’s payout ratio is currently 46.14%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Barclays lifted their target price on shares of UnitedHealth Group from $352.00 to $386.00 and gave the company an “overweight” rating in a research note on Thursday, October 9th. Royal Bank Of Canada lifted their price target on shares of UnitedHealth Group from $286.00 to $408.00 and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Mizuho raised their target price on shares of UnitedHealth Group from $300.00 to $430.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. Piper Sandler cut their target price on shares of UnitedHealth Group from $423.00 to $417.00 and set an “overweight” rating for the company in a research report on Tuesday, October 28th. Finally, Truist Financial lifted their price objective on UnitedHealth Group from $310.00 to $365.00 and gave the stock a “buy” rating in a research note on Tuesday, September 9th. Seventeen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, UnitedHealth Group has a consensus rating of “Hold” and a consensus price target of $385.54.

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About UnitedHealth Group

(Free Report)

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.

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Institutional Ownership by Quarter for UnitedHealth Group (NYSE:UNH)

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