Fred Alger Management LLC Has $116.62 Million Stake in UnitedHealth Group Incorporated (NYSE:UNH)

Fred Alger Management LLC boosted its holdings in UnitedHealth Group Incorporated (NYSE:UNH) by 91.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 199,460 shares of the healthcare conglomerate’s stock after acquiring an additional 95,503 shares during the quarter. Fred Alger Management LLC’s holdings in UnitedHealth Group were worth $116,620,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Kathleen S. Wright Associates Inc. bought a new stake in UnitedHealth Group during the third quarter worth about $27,000. Macroview Investment Management LLC lifted its position in UnitedHealth Group by 671.4% during the 2nd quarter. Macroview Investment Management LLC now owns 54 shares of the healthcare conglomerate’s stock valued at $28,000 after purchasing an additional 47 shares during the period. Bbjs Financial Advisors LLC acquired a new stake in shares of UnitedHealth Group during the 2nd quarter worth approximately $31,000. Global Wealth Strategies & Associates boosted its stake in UnitedHealth Group by 152.4% in the third quarter. Global Wealth Strategies & Associates now owns 53 shares of the healthcare conglomerate’s stock valued at $31,000 after acquiring an additional 32 shares during the last quarter. Finally, Signature Resources Capital Management LLC increased its stake in UnitedHealth Group by 40.0% in the second quarter. Signature Resources Capital Management LLC now owns 63 shares of the healthcare conglomerate’s stock valued at $32,000 after purchasing an additional 18 shares in the last quarter. 87.86% of the stock is owned by institutional investors and hedge funds.

UnitedHealth Group Price Performance

NYSE:UNH opened at $608.38 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $559.88 billion, a price-to-earnings ratio of 39.63, a P/E/G ratio of 1.79 and a beta of 0.58. UnitedHealth Group Incorporated has a 12-month low of $436.38 and a 12-month high of $630.73. The stock’s 50 day moving average price is $584.72 and its two-hundred day moving average price is $555.39.

UnitedHealth Group (NYSE:UNH) last posted its earnings results on Tuesday, October 15th. The healthcare conglomerate reported $7.15 EPS 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 company had revenue of $100.82 billion for the quarter, compared to the consensus estimate of $99.14 billion. During the same quarter in the prior year, the business earned $6.56 earnings per share. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. On average, analysts anticipate that UnitedHealth Group Incorporated will post 27.6 earnings per share for the current year.

UnitedHealth Group Dividend Announcement

The company also recently announced 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. This represents a $8.40 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend is Monday, December 9th. UnitedHealth Group’s payout ratio is presently 54.72%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on UNH. Stephens decreased their price target on shares of UnitedHealth Group from $632.00 to $605.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. StockNews.com lowered UnitedHealth Group from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. UBS Group lowered their target price on UnitedHealth Group from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. HSBC cut shares of UnitedHealth Group from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. Finally, KeyCorp started coverage on shares of UnitedHealth Group in a research note on Friday, October 11th. They issued an “overweight” rating and a $675.00 target price for the company. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, UnitedHealth Group presently has an average rating of “Moderate Buy” and a consensus target price of $618.26.

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.