First Long Island Investors LLC Has $49.55 Million Position in UnitedHealth Group Incorporated (NYSE:UNH)

First Long Island Investors LLC grew its stake in UnitedHealth Group Incorporated (NYSE:UNH) by 7.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 100,159 shares of the healthcare conglomerate’s stock after acquiring an additional 6,785 shares during the period. UnitedHealth Group accounts for about 4.1% of First Long Island Investors LLC’s investment portfolio, making the stock its 5th biggest position. First Long Island Investors LLC’s holdings in UnitedHealth Group were worth $49,549,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of UNH. Richelieu Gestion SA bought a new stake in shares of UnitedHealth Group during the fourth quarter worth approximately $26,000. CGC Financial Services LLC raised its stake in shares of UnitedHealth Group by 1,000.0% during the fourth quarter. CGC Financial Services LLC now owns 55 shares of the healthcare conglomerate’s stock worth $29,000 after buying an additional 50 shares during the last quarter. True Wealth Design LLC acquired a new position in UnitedHealth Group during the fourth quarter valued at approximately $31,000. LFA Lugano Financial Advisors SA grew its holdings in UnitedHealth Group by 148.1% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 67 shares of the healthcare conglomerate’s stock valued at $35,000 after purchasing an additional 40 shares during the period. Finally, Red Tortoise LLC grew its holdings in UnitedHealth Group by 45.1% during the first quarter. Red Tortoise LLC now owns 74 shares of the healthcare conglomerate’s stock valued at $36,000 after purchasing an additional 23 shares during the period. 87.86% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on UNH. Barclays boosted their price objective on shares of UnitedHealth Group from $534.00 to $560.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. JPMorgan Chase & Co. upped their price target on shares of UnitedHealth Group from $546.00 to $559.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Royal Bank of Canada reduced their price target on shares of UnitedHealth Group from $596.00 to $555.00 and set an “outperform” rating for the company in a report on Wednesday, April 17th. Piper Sandler upped their price target on shares of UnitedHealth Group from $566.00 to $571.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. Finally, Wells Fargo & Company reduced their price target on shares of UnitedHealth Group from $600.00 to $525.00 and set an “overweight” rating for the company in a report on Monday, April 8th. Two investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $579.74.

UnitedHealth Group Stock Performance

NYSE UNH traded up $3.35 on Thursday, hitting $504.28. 3,535,102 shares of the stock were exchanged, compared to its average volume of 4,241,919. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.85 and a quick ratio of 0.85. The business’s fifty day moving average is $499.20 and its 200 day moving average is $500.05. UnitedHealth Group Incorporated has a 52 week low of $436.38 and a 52 week high of $554.70. The company has a market capitalization of $464.13 billion, a PE ratio of 30.82, a P/E/G ratio of 1.44 and a beta of 0.60.

UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings data on Tuesday, April 16th. The healthcare conglomerate reported $6.91 earnings per share for the quarter, beating the consensus estimate of $6.63 by $0.28. The company had revenue of $99.80 billion for the quarter, compared to analyst estimates of $99.23 billion. UnitedHealth Group had a net margin of 4.05% and a return on equity of 26.50%. The company’s revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned $6.26 earnings per share. Research analysts anticipate that UnitedHealth Group Incorporated will post 27.55 EPS for the current fiscal year.

UnitedHealth Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Monday, June 17th were given a $2.10 dividend. The ex-dividend date of this dividend was Monday, June 17th. This is a positive change from UnitedHealth Group’s previous quarterly dividend of $1.88. This represents a $8.40 annualized dividend and a dividend yield of 1.67%. UnitedHealth Group’s dividend payout ratio is presently 51.34%.

UnitedHealth Group Profile

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.