5 Recession-Proof Stocks to Buy and Hold

1. UnitedHealth Group Incorporated (NYSE:UNH)

Number of Hedge Fund Holders: 96

UnitedHealth Group Incorporated (NYSE:UNH) is a Minnesota-based multinational insurance and managed healthcare company. Insurance and healthcare stocks have historically remained recession-proof, since people cannot put off important medical procedures and do not usually unsubscribe from their insurance policies. 

UnitedHealth Group Incorporated (NYSE:UNH) on February 16 declared a $1.45 per share quarterly dividend. The dividend is payable on March 22, to shareholders of record on March 14. Among the hedge funds tracked by Insider Monkey, 96 funds held long positions in UnitedHealth Group Incorporated (NYSE:UNH), up from 95 funds in the prior quarter.

On January 26, SVB Leerink analyst Whit Mayo raised the price target on UnitedHealth Group Incorporated (NYSE:UNH) to $550 from $480 and kept an Outperform rating on the shares. The analyst noted that the company’s Q4 results were in line with expectations.  

Here is what Third Point Management has to say about UnitedHealth Group Incorporated (NYSE:UNH) in its Q3 2021 investor letter:

“UnitedHealth is one of the largest healthcare companies in the world and a market leader in both its insurance and healthcare services (Optum) businesses. We initiated our position during the 2020 Presidential election at a time of heightened political and regulatory uncertainty.

We believe under its new CEO, Andrew Witty, UnitedHealth can not only preserve its market dominance and sustain industry-leading growth rates across most of its key segments but also enter new healthcare services markets. Witty is known as a mission-driven CEO who clearly articulates his view that providing high-quality, affordable health care services is a social good. He receives consistently high marks from former colleagues, and we believe that his leadership approach will ballast and even strengthen UNH’s already impressive management and employee ranks. The insurance and services businesses are synergistic and complementary, which entrenches United’s critical role in care financing, access, and management. This dynamic gives us confidence in the durability of United’s market leadership…” (Click here to see the full text)

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