Humana (NYSE:HUM) Updates FY24 Earnings Guidance

Humana (NYSE:HUM) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of approx. $16.00 for the period, compared to the consensus estimate of $16.35.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on HUM shares. Mizuho decreased their price target on shares of Humana from $550.00 to $400.00 and set a buy rating for the company in a research note on Friday, January 26th. Jefferies Financial Group lowered their target price on Humana from $411.00 to $381.00 and set a buy rating on the stock in a research note on Monday. Cantor Fitzgerald cut their price target on Humana from $391.00 to $360.00 and set a neutral rating for the company in a research note on Thursday. Bank of America reiterated a neutral rating and issued a $342.00 price objective (down from $470.00) on shares of Humana in a research note on Tuesday, April 2nd. Finally, UBS Group cut their price objective on shares of Humana from $334.00 to $326.00 and set a neutral rating for the company in a research report on Thursday. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Humana presently has an average rating of Hold and a consensus target price of $437.00.

Humana Stock Performance

Shares of NYSE HUM traded down $5.34 during midday trading on Thursday, reaching $310.64. The company had a trading volume of 611,462 shares, compared to its average volume of 1,988,761. The business’s 50-day simple moving average is $329.24 and its 200 day simple moving average is $396.94. The stock has a market cap of $37.48 billion, a P/E ratio of 15.68, a P/E/G ratio of 1.92 and a beta of 0.45. Humana has a 1 year low of $299.23 and a 1 year high of $541.21. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.63.

Humana (NYSE:HUM) last issued its quarterly earnings results on Wednesday, April 24th. The insurance provider reported $7.23 EPS for the quarter, topping the consensus estimate of $6.12 by $1.11. The company had revenue of $29.61 billion during the quarter, compared to analyst estimates of $28.52 billion. Humana had a net margin of 2.34% and a return on equity of 19.44%. The firm’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $9.38 EPS. On average, analysts forecast that Humana will post 16.06 earnings per share for the current fiscal year.

Humana Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, June 28th will be given a dividend of $0.885 per share. This represents a $3.54 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Friday, June 28th. Humana’s dividend payout ratio is presently 17.86%.

Insider Transactions at Humana

In other news, Director Jorge S. Mesquita bought 545 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was purchased at an average price of $367.09 per share, for a total transaction of $200,064.05. Following the completion of the purchase, the director now owns 2,578 shares in the company, valued at approximately $946,358.02. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.32% of the company’s stock.

Humana Company Profile

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.