Stratos Wealth Advisors LLC has increased its holdings in UnitedHealth Group Incorporated (NYSE:UNH) by an impressive 50.5% during the second quarter of 2023. This growth follows the acquisition of an additional 1,573 shares, bringing the total number of shares owned by Stratos to 4,687. As per the firm’s most recent filing with the SEC, the value of these holdings is estimated at approximately $1.46 million.
Other institutional investors have also made notable adjustments to their positions in UnitedHealth Group. For instance, Bayforest Capital Ltd raised its stake in the healthcare conglomerate by 685.7% during the first quarter, now holding 55 shares valued at $29,000. Clal Insurance Enterprises Holdings Ltd also increased its stake by 416.7%, owning 62 shares worth $32,000 after purchasing an additional 50 shares.
Kentucky Trust Co and O’Brien Wealth Partners LLC have similarly expanded their investments, with Kentucky Trust increasing its stake by 53.8% and O’Brien enhancing its holdings by 74.0%. Additionally, Cloud Capital Management LLC entered the market with a new position in UnitedHealth, valued at $53,000. Overall, institutional investors and hedge funds now own 87.86% of the company’s stock.
Analysts Adjust Price Targets for UnitedHealth Group
Multiple brokerages have recently updated their price targets for UnitedHealth Group. On July 31, 2023, Baird R W downgraded the stock from a “hold” rating to a “strong sell.” Conversely, Morgan Stanley raised its price target from $325.00 to $395.00 and maintained an “overweight” rating as of September 12, 2023.
Wells Fargo & Company and KeyCorp followed suit, increasing their price targets to $400.00 on October 7, 2023, while Bank of America updated its target from $350.00 to $390.00 on October 8, 2023. Overall, 18 analysts have rated the stock as a Buy, while seven have issued a Hold rating and four have suggested a Sell rating. The stock currently has an average price target of $385.13, according to MarketBeat.com.
UnitedHealth Group’s Financial Performance
As of October 6, 2023, UnitedHealth Group shares opened at $356.53. The company’s performance indicators include a market capitalization of $322.90 billion and a PE ratio of 15.45. The stock has fluctuated between a twelve-month low of $234.60 and a high of $630.73.
In its most recent earnings report, released on July 29, 2023, UnitedHealth Group reported earnings per share (EPS) of $4.08, falling short of the consensus estimate of $4.45 by $0.37. The company’s revenue for the quarter was $111.62 billion, slightly below analyst expectations of $111.75 billion, but reflecting a year-over-year increase of 12.9%.
UnitedHealth Group has also set a fiscal year 2025 guidance of $16.00 EPS, and analysts forecast an average EPS of $29.54 for the current fiscal year.
Dividend Announcement
In addition to its stock performance, UnitedHealth Group declared a quarterly dividend of $2.21 per share, which was paid on September 23, 2023. This dividend reflects an annualized payout of $8.84 and a yield of 2.5%. The company’s dividend payout ratio stands at 38.30%.
UnitedHealth Group operates as a diversified healthcare company in the United States, with four primary segments: UnitedHealthcare, Optum Health, Optum Insight, and Optum Rx. The company offers a range of health benefit plans and services across various sectors, catering to both individual and institutional needs.
