Tounjian Advisory Partners LLC has significantly reduced its investment in UnitedHealth Group Incorporated (NYSE: UNH), with a reported cut of 63.2% in its holdings during the third quarter of 2023. According to the firm’s recent filing with the Securities & Exchange Commission, Tounjian now holds 6,556 shares of the healthcare giant, having divested 11,254 shares over the quarter. At the close of this period, these shares were valued at approximately $2,264,000.
This divestment comes as several other investment firms adjust their positions in UnitedHealth Group. For instance, Guerra Advisors Inc acquired a new stake valued at about $1,059,000 during the same quarter. Additionally, Berkshire Hathaway Inc made a substantial investment of approximately $1.57 billion in the second quarter, further highlighting the active interest in the company’s stock.
Murphy Pohlad Asset Management LLC increased its holdings by 21.8% during the second quarter, now owning 4,425 shares worth $1,380,000. Similarly, Carnegie Investment Counsel raised its stake by 2.2% in the third quarter, bringing its total to 105,621 shares valued at $36,471,000.
As of now, hedge funds and institutional investors collectively own 87.86% of UnitedHealth Group’s stock, reflecting a robust interest in the company’s performance.
Market Performance and Stock Analysis
UnitedHealth Group’s stock opened at $292.97 on the New York Stock Exchange last Friday, experiencing an increase of 2.2%. The company’s current 50-day moving average stands at $311.98, with a 200-day moving average of $325.45. Over the past year, the stock has reached a low of $234.60 and a high of $606.36. UnitedHealth Group boasts a market capitalization of $265.38 billion, a price-to-earnings ratio of 22.21, and a price-to-earnings-growth ratio of 1.32.
The company’s financial health is further illustrated by a current ratio of 0.79, a quick ratio of 0.82, and a debt-to-equity ratio of 0.72.
Dividend Announcement and Analyst Ratings
UnitedHealth Group also announced a quarterly dividend of $2.21 per share, set to be distributed on March 17, 2024. Investors on record as of March 9, 2024 will receive this dividend, which translates to an annualized amount of $8.84 and a dividend yield of 3.0%. The company currently has a dividend payout ratio of 67.02%.
Market analysts have varied opinions on UnitedHealth Group’s stock. Notably, Morgan Stanley has reduced its target price from $411.00 to $409.00, maintaining an “overweight” rating. Conversely, Evercore upgraded the stock to a “strong-buy” rating. Other firms, including Leerink Partners and Oppenheimer, have adjusted their price targets downwards but still recognize the stock’s potential.
Currently, one analyst rates UnitedHealth Group as a Strong Buy, while seventeen analysts recommend a Buy rating, nine suggest holding, and one advises selling. The average rating stands at “Moderate Buy,” with a consensus target price of $372.13.
UnitedHealth Group, headquartered in Minnetonka, Minnesota, has established itself as a diversified healthcare company since its founding in 1977. The firm operates primarily through two platforms: UnitedHealthcare and Optum, providing a broad spectrum of health benefits and services across various sectors, including commercial employer-sponsored plans and governmental programs.
As UnitedHealth Group navigates through market fluctuations and investor sentiment, its ability to adapt and respond to changing conditions remains critical for stakeholders.
