Madison Investments, an investment advisor, released its “Madison Sustainable Equity Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. As measured by the S&P 500 Index, the markets were mixed in the third quarter. The fund returned -3.14% in the quarter compared to -3.27% return for the S&P 500 Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Madison Sustainable Equity Fund highlighted stocks like UnitedHealth Group Incorporated (NYSE:UNH) in the third quarter 2023 investor letter. Headquartered in Minnetonka, Minnesota, UnitedHealth Group Incorporated (NYSE:UNH) is a diversified healthcare company that operates through UnitedHealthcare, Optum Health, Optum Insight, and Optum Rx segments. On October 25, 2023, UnitedHealth Group Incorporated (NYSE:UNH) stock closed at $530.21 per share. One-month return of UnitedHealth Group Incorporated (NYSE:UNH) was 5.26%, and its shares lost 2.39% of their value over the last 52 weeks. UnitedHealth Group Incorporated (NYSE:UNH) has a market capitalization of $491.136 billion.
Madison Sustainable Equity Fund made the following comment about UnitedHealth Group Incorporated (NYSE:UNH) in its Q3 2023 investor letter:
“The top contributors in the quarter were Eli Lilly, Jacobs, Alphabet, Costco, and UnitedHealth Group Incorporated (NYSE:UNH). UnitedHealth responded well to a solid second quarter, with a better medical loss ratio driving the better-than-expected results. Additionally, UNH modestly raised guidance for the full year.
We updated the sustainable scorecard for UnitedHealth Group. The company continues to have Above Average Corporate Governance with a clear policy on separating the roles of the Chair of the Board and the CEO. We also rate the company Above Average on Social factors due to its clear cybersecurity, privacy, and data governance policies. The company continues to diversify its top management positions, where 40% of top management positions are held by women, up from 37% in 2020. We reduced our Environment rating to Average from Above Average as the company has significantly expanded its footprint in the last few years by acquiring local providers. The company is at the beginning of its journey to source renewable electricity for 100% of its operations by 2030.”
A senior healthcare professional giving advice to a patient in a clinic. Editorial photo for a financial news article. 8k. –ar 16:9
UnitedHealth Group Incorporated (NYSE:UNH) is in 16th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 111 hedge fund portfolios held UnitedHealth Group Incorporated (NYSE:UNH) at the end of second quarter which was 116 in the previous quarter.
We discussed UnitedHealth Group Incorporated (NYSE:UNH) in another article and shared the list of defensive healthcare dividend stocks to invest in. In addition, please check out our hedge fund investor letters Q3 2023 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.
