Fred Alger Management LLC Has $116.62 Million Stake in UnitedHealth Group Incorporated (NYSE:UNH)

Fred Alger Management LLC increased its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 91.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 199,460 shares of the healthcare conglomerate’s stock after purchasing an additional 95,503 shares during the quarter. Fred Alger Management LLC’s holdings in UnitedHealth Group were worth $116,620,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Delta Financial Group Inc. increased its holdings in UnitedHealth Group by 1.0% in the 3rd quarter. Delta Financial Group Inc. now owns 1,650 shares of the healthcare conglomerate’s stock worth $965,000 after purchasing an additional 17 shares in the last quarter. Signature Resources Capital Management LLC boosted its position in UnitedHealth Group by 40.0% during the 2nd quarter. Signature Resources Capital Management LLC now owns 63 shares of the healthcare conglomerate’s stock worth $32,000 after buying an additional 18 shares during the period. Saxony Capital Management LLC increased its position in UnitedHealth Group by 3.5% in the 2nd quarter. Saxony Capital Management LLC now owns 530 shares of the healthcare conglomerate’s stock valued at $270,000 after acquiring an additional 18 shares during the period. GoalVest Advisory LLC lifted its holdings in shares of UnitedHealth Group by 0.6% during the second quarter. GoalVest Advisory LLC now owns 3,124 shares of the healthcare conglomerate’s stock worth $1,591,000 after purchasing an additional 18 shares during the period. Finally, Fiduciary Group LLC increased its holdings in UnitedHealth Group by 0.5% in the second quarter. Fiduciary Group LLC now owns 3,695 shares of the healthcare conglomerate’s stock valued at $1,882,000 after purchasing an additional 18 shares during the period. Institutional investors and hedge funds own 87.86% of the company’s stock.

UnitedHealth Group Stock Up 0.3 %

Shares of NYSE UNH opened at $608.38 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.91 and a quick ratio of 0.91. UnitedHealth Group Incorporated has a 1 year low of $436.38 and a 1 year high of $630.73. The stock has a market capitalization of $559.88 billion, a P/E ratio of 39.63, a P/E/G ratio of 1.79 and a beta of 0.58. The company has a 50-day moving average price of $584.72 and a 200-day moving average price of $555.39.

UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings data on Tuesday, October 15th. The healthcare conglomerate reported $7.15 EPS for the quarter, topping the consensus estimate of $7.00 by $0.15. UnitedHealth Group had a return on equity of 26.37% and a net margin of 3.63%. The firm had revenue of $100.82 billion during the quarter, compared to the consensus estimate of $99.14 billion. During the same period in the prior year, the business posted $6.56 earnings per share. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, equities research analysts forecast that UnitedHealth Group Incorporated will post 27.6 EPS for the current fiscal year.

UnitedHealth Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Monday, December 9th will be given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend is Monday, December 9th. UnitedHealth Group’s payout ratio is currently 54.72%.

Wall Street Analysts Forecast Growth

UNH has been the topic of a number of analyst reports. TD Cowen upped their price target on UnitedHealth Group from $601.00 to $609.00 and gave the company a “buy” rating in a research report on Friday, October 18th. HSBC lowered shares of UnitedHealth Group from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. Barclays lifted their target price on shares of UnitedHealth Group from $603.00 to $655.00 and gave the stock an “overweight” rating in a research note on Wednesday. UBS Group cut their price target on shares of UnitedHealth Group from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Finally, Stephens dropped their price objective on UnitedHealth Group from $632.00 to $605.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $618.26.

UnitedHealth Group Company Profile

UnitedHealth Group Incorporated operates as a diversified health care company in the United States. The company operates through four segments: UnitedHealthcare, Optum Health, Optum Insight, and Optum Rx. The UnitedHealthcare segment offers consumer-oriented health benefit plans and services for national employers, public sector employers, mid-sized employers, small businesses, and individuals; health care coverage, and health and well-being services to individuals age 50 and older addressing their needs; Medicaid plans, children's health insurance and health care programs; and health and dental benefits, and hospital and clinical services, as well as health care benefits products and services to state programs caring for the economically disadvantaged, medically underserved, and those without the benefit of employer-funded health care coverage.