Weaver Consulting Group has significantly increased its investment in UnitedHealth Group Incorporated, raising its stake by 82.9% during the second quarter of 2023. According to HoldingsChannel, the consulting firm now holds 929 shares of the healthcare giant after acquiring an additional 421 shares in this period. As of the latest filing with the Securities and Exchange Commission, Weaver Consulting Group’s holdings are valued at approximately $290,000.
Other institutional investors have also adjusted their positions in UnitedHealth Group (NYSE: UNH). In the first quarter, Vanguard Group Inc. enhanced its stake by 6.6%, bringing its total to 90,729,585 shares, valued at around $47.5 billion after acquiring 5,583,343 shares. Wellington Management Group LLP also increased its holdings by 10.6% during the same quarter, now owning 25,847,940 shares worth approximately $13.54 billion.
Additionally, Geode Capital Management LLC raised its ownership by 3.3%, now holding 21,312,182 shares valued at about $6.62 billion. Nuveen LLC entered the fray by acquiring a new stake valued at approximately $3.85 billion. Charles Schwab Investment Management Inc. also grew its position by 13.6%, now owning 7,070,385 shares worth around $3.7 billion. Overall, institutional investors and hedge funds control 87.86% of UnitedHealth Group’s stock.
Stock Performance and Dividend Announcement
On Thursday, UnitedHealth Group’s stock opened at $313.24, reflecting a 1.3% increase. The company boasts a market capitalization of $283.74 billion, with a price-to-earnings (P/E) ratio of 16.33 and a beta of 0.47. Its fifty-two week trading range is between $234.60 and $622.83.
UnitedHealth Group recently announced a quarterly dividend of $2.21 per share, scheduled for distribution on December 16, 2023. Shareholders of record on December 8 will receive this dividend, resulting in an annualized payout of $8.84 and a yield of 2.8%. The company’s current payout ratio stands at 46.14%.
Analyst Ratings and Market Outlook
Recent changes in analyst ratings reflect a range of perspectives on UnitedHealth Group’s stock. Deutsche Bank Aktiengesellschaft downgraded its rating from “buy” to “hold” with a price objective of $333.00 in a report released on October 29, 2023. Conversely, TD Cowen raised its target price from $335.00 to $338.00 while maintaining a “hold” rating.
KeyCorp has an optimistic outlook, increasing its price target from $350.00 to $400.00, assigning an “overweight” rating. Jefferies Financial Group also upgraded its target price from $317.00 to $409.00, affirming a “buy” rating. The Goldman Sachs Group initiated coverage with a “buy” rating and a target price of $406.00.
Market analysts currently rate UnitedHealth Group with a consensus of “Moderate Buy” and a price target averaging $397.12. A total of eighteen analysts have issued “buy” ratings, nine have assigned “hold” ratings, and three have given “sell” ratings.
UnitedHealth Group Incorporated operates as a diversified healthcare company, providing a range of health benefit plans and services across its four segments: UnitedHealthcare, Optum Health, Optum Insight, and Optum Rx. The company’s services cater to a broad spectrum of clients, including national and public sector employers, individuals, and those in need of Medicaid and other health coverage options.
