1. UnitedHealth Group Incorporated (NYSE:UNH)
Market Capitalization as of September 11: $538.59 Billion
Number of Hedge Fund Investors in Q2 2024: 114
UnitedHealth Group Incorporated (NYSE:UNH) is a diversified healthcare company that offers consumer-oriented health benefit plans and services for national employers, public sector employers, mid-sized employers, and small businesses.
It is one of the consumer defensive stocks trading at all-time highs following strong performance in a challenging economic environment. Its strong performance can be credited to the firm’s strategic plans, varied business approach, and knack for regularly achieving strong financial outcomes despite the wider market encountering challenges.
This record-breaking achievement establishes a new benchmark for UnitedHealth Group Incorporated (NYSE:UNH), as the firm keeps pushing forward with innovation and broadening its presence in the healthcare industry.
The reason UnitedHealth Group stands out as a leading stock for dividend growth is its knack for discovering new methods to expand and grow its operations. Concentrating on areas like analytics, home health, and various segments of the healthcare sector allows it to take advantage of the wide range of opportunities available in the industry.
Additionally, the expected increase in population in the coming years could act as a driving force, boosting the demand for health insurance. The company delivered solid second-quarter results, with earnings per share of $6.80, beating estimates by 2.3%. Revenue in the quarter was up 6.4% year over year to $98.9 billion.
The impressive quarterly results were bolstered by an expansion in the number of individuals served within the United States via United Healthcare and through UnitedHealth Group Incorporated (NYSE:UNH)’s arrangements focused on value-based care via Optus…
Currently, UnitedHealth distributes a quarterly dividend of $2.10 per share, offering a yield of 1.4%, which is higher than the average yield of the S&P 500, which stands at 1.3%.
By the end of Q2 2024, 114 investors were bullish on the stock, with total stakes reaching $12.5 billion. As of June 30, Fisher Asset Management held the largest position, valued at $1.57 billion.
Invesco Distributors, Inc. commented on UnitedHealth Group Incorporated (NYSE:UNH) in its Q2 2024 investor letter:
“UnitedHealth Group Incorporated (NYSE:UNH): Like many managed care providers, United Health has come under pressure from rising medical costs and higher-than-expected utilization. The stock is currently undervalued based on our analysis. We view the company as a high-quality compounder with secular growth opportunities in the managed care segment. The US Presidential election may cause additional near-term uncertainty, but we believe United Health will be able to rebound once pricing and utilization issues normalize.”
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