5 Best Bear Market Stocks To Buy Now

4. UnitedHealth Group Incorporated (NYSE:UNH)

Number of Hedge Fund Holders: 111

UnitedHealth Group Incorporated (NYSE:UNH) is an American multinational managed healthcare and insurance company based in Minnetonka, Minnesota, operating as a for-profit entity. The corporation is structured into four segments, namely UnitedHealthcare, Optum Health, Optum Insight, and Optum Rx. Considered a highly stable stock in bear markets, UnitedHealth Group Incorporated (NYSE:UNH) declared a quarterly dividend of $1.88 per share, in line with previous on August 23. The dividend was distributed on September 19, to shareholders of record on September 11.

Insider Monkey’s database of 910 hedge funds shows that 111 hedge funds reported owning stakes in UnitedHealth Group Incorporated (NYSE:UNH). The most significant stakeholder of the firm during this period was Rajiv Jain’s GQG Partners which owns a $2.4 billion stake in the company.

Mairs & Power Growth Fund made the following comment about UnitedHealth Group Incorporated (NYSE:UNH) in its second quarter 2023 investor letter:

“Notable detractors to performance in the first half were US Bank (USB), Charles Schwab (SCHW), and UnitedHealth Group Incorporated (NYSE:UNH), which were down 22.09%, 31.65%, and 8.65%, respectively. Another detractor from relative performance was UnitedHealth Group, which was down 8.65%. However, we have a positive long-term view of the company, headquartered in Minnesota, and especially its potential when it comes to harnessing its vast amounts of patient data via AI. Additionally, its Optum unit, which provides technology and data-driven care delivery, has AI-enabled tools that can help healthcare providers drive more efficient and accurate care to patients.