Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Growth & Income Fund” first quarter 2024 investor letter. A copy of the letter can be downloaded here. The S&P 500 Index continued its recent all-time high, beginning the year’s first quarter at a robust 10.6%. This quarter’s results followed a common pattern to much of 2023: large outperforming small and growth outperforming value. Energy was the best-performing sector while real estate investment trusts (REITs) were the only sector with negative returns. In addition, you can check the top 5 holdings of the fund to know its best picks in 2024.
Carillon Eagle Growth & Income Fund highlighted stocks like UnitedHealth Group Incorporated (NYSE:UNH), in the first quarter 2024 investor letter. UnitedHealth Group Incorporated (NYSE:UNH) is a diversified healthcare company that operates through UnitedHealthcare, Optum Health, Optum Insight, and Optum Rx segments. The one-month return of UnitedHealth Group Incorporated (NYSE:UNH) was -4.60%, and its shares gained 6.74% of their value over the last 52 weeks. On June 13, 2024, UnitedHealth Group Incorporated (NYSE:UNH) stock closed at $497.30 per share with a market capitalization of $457.707 billion.
Carillon Eagle Growth & Income Fund stated the following regarding UnitedHealth Group Incorporated (NYSE:UNH) in its first quarter 2024 investor letter:
“UnitedHealth Group Incorporated’s (NYSE:UNH) subsidiary, Charge Healthcare, suffered a cyber attack in mid-February, which impacted its claims-processing operations. Also in February, news reports that the U.S. Department of Justice had launched an antitrust investigation into the company further weighed on shares. Additionally, indications of elevated healthcare utilization, particularly among seniors, weighed on several companies across the managed care space in the first quarter, including UnitedHealthcare.”
A senior healthcare professional giving advice to a patient in a clinic.
UnitedHealth Group Incorporated (NYSE:UNH) is in 22nd position on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 104 hedge fund portfolios held UnitedHealth Group Incorporated (NYSE:UNH) at the end of the first quarter which was 113 in the previous quarter. While we acknowledge the potential of UnitedHealth Group Incorporated (NYSE:UNH) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed UnitedHealth Group Incorporated (NYSE:UNH) and shared the list of top dividend stocks to buy in 2024 according to billionaire Paul Tudor Jones. In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
