Tounjian Advisory Partners LLC has significantly reduced its stake in UnitedHealth Group Incorporated (NYSE: UNH), cutting its holdings by 63.2% during the third quarter of this year. According to a disclosure filed with the Securities & Exchange Commission, the firm now owns 6,556 shares of the healthcare giant after selling 11,254 shares during the quarter. The remaining shares are valued at approximately $2,264,000.
Several other institutional investors have also adjusted their positions in UnitedHealth. For instance, Guerra Advisors Inc. acquired a new position during the third quarter, valued at about $1,059,000. Meanwhile, Berkshire Hathaway Inc. made a substantial investment in the second quarter, acquiring shares worth about $1.57 billion. Murphy Pohlad Asset Management LLC boosted its holdings by 21.8% during the same period, now owning 4,425 shares worth $1,380,000 after purchasing an additional 791 shares.
Carnegie Investment Counsel also increased its stake by 2.2% in the third quarter, owning 105,621 shares valued at $36.47 million after purchasing an additional 2,316 shares. Additionally, EverSource Wealth Advisors LLC raised its position by 48.9% in the second quarter, now holding 5,790 shares valued at $1,806,000. Currently, hedge funds and institutional investors own approximately 87.86% of UnitedHealth’s stock.
Stock Performance and Dividend Announcement
As of Friday, shares of UnitedHealth Group opened at $292.97. The company’s 50-day moving average stands at $311.98, while the 200-day moving average is $325.45. Over the past year, the stock has ranged from a low of $234.60 to a high of $606.36. The company’s market capitalization is approximately $265.38 billion, with a price-to-earnings ratio of 22.21.
UnitedHealth Group recently announced a quarterly dividend of $2.21 per share, to be paid on March 17, 2024, to investors recorded by March 9, 2024. This equates to an annualized dividend of $8.84, offering a yield of 3.0%. The company’s current dividend payout ratio is 67.02%.
Analyst Ratings and Future Outlook
Research analysts have been active in adjusting their ratings for UnitedHealth Group. Morgan Stanley recently lowered its target price from $411.00 to $409.00 while maintaining an “overweight” rating. Conversely, Evercore upgraded its rating to “strong-buy.” Other analysts, such as those from Leerink Partners and Oppenheimer, have adjusted their price targets to $345.00 and $385.00, respectively.
Currently, one analyst has assigned a “Strong Buy” rating for the stock, while seventeen have issued “Buy” ratings, nine have given a “Hold” rating, and one has suggested a “Sell.” According to data from MarketBeat.com, UnitedHealth Group holds an average rating of “Moderate Buy” with an average target price of $372.13.
These developments highlight the ongoing interest and fluctuations in UnitedHealth Group’s stock, making it a focal point for investors and analysts alike. With its diversified operations and significant presence in the healthcare sector, UnitedHealth continues to attract attention from institutional investors and analysts as it navigates the complexities of the market.
