Glenmede Trust Co. NA Increases Position in UnitedHealth Group Incorporated (NYSE:UNH)

Glenmede Trust Co. NA boosted its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 6.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 208,482 shares of the healthcare conglomerate’s stock after acquiring an additional 13,332 shares during the quarter. Glenmede Trust Co. NA’s holdings in UnitedHealth Group were worth $121,895,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Soros Capital Management LLC purchased a new stake in shares of UnitedHealth Group in the 3rd quarter worth about $9,881,000. Townsquare Capital LLC grew its holdings in shares of UnitedHealth Group by 3.3% during the 3rd quarter. Townsquare Capital LLC now owns 85,881 shares of the healthcare conglomerate’s stock worth $50,213,000 after acquiring an additional 2,746 shares during the period. Baldwin Investment Management LLC lifted its stake in shares of UnitedHealth Group by 2.7% in the 3rd quarter. Baldwin Investment Management LLC now owns 2,800 shares of the healthcare conglomerate’s stock valued at $1,637,000 after purchasing an additional 74 shares during the period. Cadence Bank grew its stake in UnitedHealth Group by 1.7% in the third quarter. Cadence Bank now owns 2,794 shares of the healthcare conglomerate’s stock worth $1,634,000 after purchasing an additional 46 shares during the period. Finally, Thematics Asset Management boosted its holdings in shares of UnitedHealth Group by 4.8% during the 3rd quarter. Thematics Asset Management now owns 8,940 shares of the healthcare conglomerate’s stock valued at $5,227,000 after buying an additional 409 shares in the last quarter. Institutional investors own 87.86% of the company’s stock.

UnitedHealth Group Stock Performance

UnitedHealth Group stock opened at $606.32 on Wednesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.91 and a current ratio of 0.91. The company has a 50 day moving average price of $583.53 and a 200-day moving average price of $554.65. The company has a market capitalization of $557.98 billion, a PE ratio of 39.50, a P/E/G ratio of 1.78 and a beta of 0.58. UnitedHealth Group Incorporated has a fifty-two week low of $436.38 and a fifty-two week high of $630.73.

UnitedHealth Group (NYSE:UNH) last released its quarterly earnings data on Tuesday, October 15th. The healthcare conglomerate reported $7.15 earnings per share for the quarter, beating the consensus estimate of $7.00 by $0.15. UnitedHealth Group had a return on equity of 26.37% and a net margin of 3.63%. The firm had revenue of $100.82 billion during the quarter, compared to the consensus estimate of $99.14 billion. During the same period in the previous year, the company posted $6.56 earnings per share. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. As a group, equities analysts forecast that UnitedHealth Group Incorporated will post 27.6 earnings per share for the current year.

UnitedHealth Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Monday, December 9th will be given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Monday, December 9th. UnitedHealth Group’s payout ratio is currently 54.72%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. KeyCorp started coverage on shares of UnitedHealth Group in a research note on Friday, October 11th. They set an “overweight” rating and a $675.00 price objective for the company. TD Cowen lifted their price objective on UnitedHealth Group from $601.00 to $609.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Barclays lowered their price objective on UnitedHealth Group from $604.00 to $603.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Truist Financial reissued a “buy” rating and issued a $625.00 price target (down from $640.00) on shares of UnitedHealth Group in a report on Wednesday, October 16th. Finally, Morgan Stanley lowered their target price on shares of UnitedHealth Group from $615.00 to $610.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $615.53.

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.