Connor Clark & Lunn Investment Management Ltd. Has $14.53 Million Stake in UnitedHealth Group Incorporated (NYSE:UNH)

Connor Clark & Lunn Investment Management Ltd. lessened its position in UnitedHealth Group Incorporated (NYSE:UNH) by 67.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,853 shares of the healthcare conglomerate’s stock after selling 51,673 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in UnitedHealth Group were worth $14,531,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Kathleen S. Wright Associates Inc. acquired a new stake in UnitedHealth Group during the 3rd quarter valued at $27,000. Global Wealth Strategies & Associates lifted its position in shares of UnitedHealth Group by 152.4% during the third quarter. Global Wealth Strategies & Associates now owns 53 shares of the healthcare conglomerate’s stock worth $31,000 after purchasing an additional 32 shares in the last quarter. Macroview Investment Management LLC increased its holdings in shares of UnitedHealth Group by 671.4% in the second quarter. Macroview Investment Management LLC now owns 54 shares of the healthcare conglomerate’s stock valued at $28,000 after purchasing an additional 47 shares in the last quarter. West Financial Advisors LLC acquired a new position in UnitedHealth Group during the 3rd quarter worth $32,000. Finally, Bbjs Financial Advisors LLC bought a new position in UnitedHealth Group in the second quarter valued at about $31,000. Institutional investors and hedge funds own 87.86% of the company’s stock.

UnitedHealth Group Price Performance

UNH stock opened at $600.50 on Thursday. UnitedHealth Group Incorporated has a one year low of $436.38 and a one year high of $630.73. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market cap of $552.63 billion, a PE ratio of 39.12, a P/E/G ratio of 1.69 and a beta of 0.58. The firm has a 50 day simple moving average of $582.52 and a two-hundred day simple moving average of $551.60.

UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings results on Tuesday, October 15th. The healthcare conglomerate reported $7.15 EPS for the quarter, beating analysts’ consensus estimates of $7.00 by $0.15. UnitedHealth Group had a net margin of 3.63% and a return on equity of 26.37%. The business had revenue of $100.82 billion for the quarter, compared to analysts’ expectations of $99.14 billion. During the same period last year, the business earned $6.56 earnings per share. The business’s quarterly revenue was up 9.2% on a year-over-year basis. On average, analysts predict that UnitedHealth Group Incorporated will post 27.6 EPS for the current fiscal year.

UnitedHealth Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders 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 yield of 1.40%. The ex-dividend date is Monday, December 9th. UnitedHealth Group’s payout ratio is 54.72%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on UNH. Barclays lowered their price target on shares of UnitedHealth Group from $604.00 to $603.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. UBS Group cut their target price on UnitedHealth Group from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. StockNews.com lowered shares of UnitedHealth Group from a “buy” rating to a “hold” rating in a report on Wednesday. Stephens dropped their price target on UnitedHealth Group from $632.00 to $605.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $625.00 target price (down from $640.00) on shares of UnitedHealth Group in a research note on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, UnitedHealth Group has an average rating of “Moderate Buy” and an average target price of $615.53.

About UnitedHealth Group

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.