Tounjian Advisory Partners LLC significantly reduced its stake in UnitedHealth Group Incorporated (NYSE: UNH) by 63.2% during the third quarter of 2023. According to its latest filing with the Securities and Exchange Commission, the firm held 6,556 shares at the end of the period after selling 11,254 shares. The total value of Tounjian’s holdings in UnitedHealth Group was approximately $2,264,000 as of the last quarter.
Other hedge funds have also been active with their investments in UnitedHealth Group. Guerra Advisors Inc. acquired a new position valued at about $1,059,000 during the third quarter. Meanwhile, Berkshire Hathaway Inc. made a substantial investment in the second quarter, acquiring a position valued at approximately $1,572,193,000. Additionally, Murphy Pohlad Asset Management LLC increased its holdings by 21.8% during the same quarter, owning 4,425 shares worth $1,380,000. Carnegie Investment Counsel and EverSource Wealth Advisors LLC also boosted their stakes in the healthcare conglomerate.
As of now, more than 87.86% of UnitedHealth Group’s stock is owned by hedge funds and institutional investors.
Market Performance and Dividend Announcement
On the trading front, shares of UnitedHealth Group opened at $292.97 on Friday, reflecting a 2.2% increase. The company’s 50-day moving average stands at $311.98, while the 200-day moving average is at $325.45. The stock has experienced a 12-month low of $234.60 and a high of $606.36. With a market capitalization of $265.38 billion, UnitedHealth Group has a price-to-earnings ratio of 22.21 and a price-to-earnings-growth ratio of 1.32.
In addition to these developments, UnitedHealth Group has announced a quarterly dividend of $2.21 per share, payable on March 17, 2024. Investors on record as of March 9, 2024, will receive this payment, translating to an annualized dividend of $8.84 and a dividend yield of 3.0%. The company’s current dividend payout ratio is 67.02%.
Analyst Ratings and Market Outlook
UnitedHealth Group continues to attract attention from market analysts. Morgan Stanley recently adjusted its target price for the stock from $411.00 to $409.00, maintaining an “overweight” rating. Evercore has upgraded its rating to “strong buy”, while Leerink Partners lowered its target from $410.00 to $345.00, designating an “outperform” rating.
Other firms, including Oppenheimer and Jefferies Financial Group, have also revised their price targets downward, reflecting a cautious approach. The consensus among analysts indicates that the stock holds a “Moderate Buy” rating, with an average target price of $372.13.
UnitedHealth Group, headquartered in Minnetonka, Minnesota, operates primarily through its two business segments: UnitedHealthcare and Optum. Founded in 1977, the company offers a wide array of health benefits and services to individuals, employers, and governmental entities across various markets, both domestically and internationally.
As the healthcare industry evolves, UnitedHealth Group remains a significant player, navigating the complexities of the market while continuing to attract institutional investment.
