Humana (NYSE:HUM) Issues Earnings Results, Beats Estimates By $1.11 EPS

Humana (NYSE:HUM) issued its quarterly earnings data on Wednesday. The insurance provider reported $7.23 earnings per share for the quarter, topping the consensus estimate of $6.12 by $1.11, RTT News reports. Humana had a return on equity of 17.76% and a net margin of 1.82%. The company had revenue of $29.61 billion during the quarter, compared to analyst estimates of $28.52 billion. During the same period in the prior year, the business posted $9.38 earnings per share. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. Humana updated its FY24 guidance to approx. $16.00 EPS.

Humana Price Performance

Humana stock opened at $305.91 on Friday. The company has a current ratio of 1.67, a quick ratio of 1.59 and a debt-to-equity ratio of 0.77. The company has a fifty day simple moving average of $327.77 and a 200-day simple moving average of $394.49. The stock has a market cap of $36.86 billion, a P/E ratio of 19.05, a price-to-earnings-growth ratio of 1.82 and a beta of 0.45. Humana has a 12-month low of $299.23 and a 12-month high of $541.21.

Humana Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, June 28th will be issued a $0.885 dividend. The ex-dividend date is Friday, June 28th. This represents a $3.54 dividend on an annualized basis and a dividend yield of 1.16%. Humana’s payout ratio is 22.04%.

Insider Activity at Humana

In other Humana news, Director Jorge S. Mesquita acquired 545 shares of the stock in a transaction dated Tuesday, February 20th. The stock was acquired at an average cost of $367.09 per share, with a total value of $200,064.05. Following the transaction, the director now owns 2,578 shares in the company, valued at approximately $946,358.02. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.32% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

HUM has been the topic of several research analyst reports. Stephens reduced their price objective on shares of Humana from $550.00 to $430.00 and set an “overweight” rating on the stock in a report on Friday, January 26th. Oppenheimer reduced their price target on shares of Humana from $415.00 to $370.00 and set an “outperform” rating on the stock in a research note on Thursday. Truist Financial reaffirmed a “hold” rating and set a $550.00 price objective on shares of Humana in a research report on Friday, January 19th. The Goldman Sachs Group cut their target price on Humana from $450.00 to $385.00 and set a “buy” rating on the stock in a research report on Wednesday, April 3rd. Finally, Cantor Fitzgerald lowered their price target on Humana from $391.00 to $360.00 and set a “neutral” rating for the company in a research report on Thursday. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Humana presently has an average rating of “Hold” and an average target price of $433.74.

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.