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Pathikrit Bose

UnitedHealth Stock Jumps on Upgrade From Bank of America. UNH Is No Longer Just an Insurance Company.

UnitedHealth UNH Bank of America Insurance Optum

Things may finally be looking up for UnitedHealth (UNH). Shares of the largest health insurer in the United States popped more than 5% in yesterday's trading session after leading broker Bank of America upgraded the company to a “Buy” from “Neutral.” The firm also increased its price target on the stock to $450 from $420, which would entail an upside potential of 12% from current levels.

Even more good news awaited its shareholders when the company recently raised its dividend by 5% to $2.32 per share. Notably, UnitedHealth has been raising dividends consecutively over the past 16 years, and with the latest rise, its stock now offers a dividend yield of 2.34%. Valued at a market cap of $360 billion, UNH stock is up 21.7% on a YTD basis.

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