Humana (NYSE:HUM) Releases Quarterly Earnings Results, Beats Estimates By $0.68 EPS

Humana (NYSE:HUM) issued its quarterly earnings data on Wednesday. The insurance provider reported $4.16 earnings per share for the quarter, beating the consensus estimate of $3.48 by $0.68, reports. The company had revenue of $29.30 billion for the quarter, compared to analyst estimates of $28.66 billion. Humana had a net margin of 1.18% and a return on equity of 13.20%. Humana updated its FY 2024 guidance to 16.000- EPS and its FY24 guidance to at least $16.00 EPS.

Humana Trading Up 1.1 %

NYSE:HUM traded up $2.88 during mid-day trading on Friday, hitting $260.71. 1,424,246 shares of the company’s stock were exchanged, compared to its average volume of 1,856,202. The company has a 50 day simple moving average of $297.06 and a 200-day simple moving average of $334.38. The company has a current ratio of 1.76, a quick ratio of 1.66 and a debt-to-equity ratio of 0.67. Humana has a fifty-two week low of $213.31 and a fifty-two week high of $527.18. The firm has a market capitalization of $31.39 billion, a P/E ratio of 23.09, a PEG ratio of 2.07 and a beta of 0.50.

Humana Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.885 per share. The ex-dividend date is Tuesday, December 31st. This represents a $3.54 annualized dividend and a yield of 1.36%. Humana’s dividend payout ratio is presently 31.36%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on HUM shares. JPMorgan Chase & Co. increased their price objective on shares of Humana from $332.00 to $396.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Truist Financial dropped their price objective on shares of Humana from $400.00 to $260.00 and set a “hold” rating on the stock in a research report on Friday, October 11th. Leerink Partnrs lowered shares of Humana from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Barclays raised their price target on shares of Humana from $250.00 to $253.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Leerink Partners lowered shares of Humana from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $400.00 to $250.00 in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Humana currently has a consensus rating of “Hold” and an average target price of $315.48.

Institutional Investors Weigh In On Humana

Hedge funds have recently added to or reduced their stakes in the business. Creative Financial Designs Inc. ADV boosted its position in Humana by 244.0% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 86 shares of the insurance provider’s stock worth $27,000 after buying an additional 61 shares during the period. CarsonAllaria Wealth Management Ltd. boosted its position in Humana by 111.4% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 74 shares of the insurance provider’s stock worth $28,000 after buying an additional 39 shares during the period. Atwood & Palmer Inc. acquired a new stake in Humana during the 3rd quarter worth approximately $29,000. Your Advocates Ltd. LLP boosted its position in Humana by 81.8% during the 3rd quarter. Your Advocates Ltd. LLP now owns 100 shares of the insurance provider’s stock worth $32,000 after buying an additional 45 shares during the period. Finally, Hantz Financial Services Inc. acquired a new position in shares of Humana in the 2nd quarter worth approximately $35,000. 92.38% of the stock is currently owned by institutional investors and hedge funds.

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.