Humana (NYSE:HUM) Posts Earnings Results

Humana (NYSE:HUM) posted its quarterly earnings results on Wednesday. The insurance provider reported $7.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.12 by $1.11, RTT News reports. Humana had a net margin of 2.34% and a return on equity of 19.44%. The business had revenue of $29.61 billion during the quarter, compared to analysts’ expectations of $28.52 billion. During the same quarter last year, the company posted $9.38 earnings per share. The business’s quarterly revenue was up 10.7% on a year-over-year basis. Humana updated its FY24 guidance to approx. $16.00 EPS.

Humana Price Performance

Shares of HUM opened at $327.84 on Wednesday. Humana has a fifty-two week low of $299.23 and a fifty-two week high of $541.21. The firm’s 50 day moving average price is $329.86 and its 200 day moving average price is $398.38. The company has a market cap of $39.55 billion, a P/E ratio of 16.54, a PEG ratio of 1.91 and a beta of 0.45. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.63.

Humana Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, June 28th will be paid a dividend of $0.885 per share. This represents a $3.54 annualized dividend and a yield of 1.08%. The ex-dividend date is Friday, June 28th. Humana’s payout ratio is currently 17.86%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on HUM shares. Bank of America reissued a “neutral” rating and set a $342.00 target price (down previously from $470.00) on shares of Humana in a report on Tuesday, April 2nd. Wells Fargo & Company dropped their price target on shares of Humana from $413.00 to $350.00 and set an “overweight” rating on the stock in a research report on Monday, April 8th. Deutsche Bank Aktiengesellschaft lowered shares of Humana from a “buy” rating to a “hold” rating and dropped their target price for the company from $595.00 to $360.00 in a research report on Thursday, January 25th. Raymond James started coverage on shares of Humana in a research report on Friday, March 22nd. They issued a “market perform” rating on the stock. Finally, Mizuho dropped their target price on shares of Humana from $550.00 to $400.00 and set a “buy” rating on the stock in a research report on Friday, January 26th. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $454.63.

Insider Buying and Selling

In other news, Director Jorge S. Mesquita purchased 545 shares of the stock in a transaction on Tuesday, February 20th. The stock was bought at an average price of $367.09 per share, for a total transaction of $200,064.05. Following the acquisition, the director now directly owns 2,578 shares of the company’s stock, valued at approximately $946,358.02. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is owned by insiders.

About Humana

Humana Inc, together with its subsidiaries, provides medical and specialty insurance products in the United States. It operates through two segments, Insurance and CenterWell. The company offers medical and supplemental benefit plans to individuals. It has a contract with Centers for Medicare and Medicaid Services to administer the Limited Income Newly Eligible Transition prescription drug plan program; and contracts with various states to provide Medicaid, dual eligible, and long-term support services benefits.