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

Humana (NYSE:HUM) posted its earnings results on Wednesday. The insurance provider reported $7.23 earnings per share for the quarter, beating the consensus estimate of $6.12 by $1.11, RTT News reports. The business had revenue of $29.61 billion for 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 business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $9.38 EPS. Humana updated its FY24 guidance to approx. $16.00 EPS.

Humana Stock Performance

Shares of NYSE HUM traded down $17.94 during trading hours on Wednesday, hitting $310.04. 1,416,091 shares of the stock were exchanged, compared to its average volume of 1,978,156. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.59 and a quick ratio of 1.59. The company’s 50 day moving average is $329.86 and its 200 day moving average is $398.38. The firm has a market capitalization of $37.41 billion, a P/E ratio of 15.77, a P/E/G ratio of 1.91 and a beta of 0.45. Humana has a one year low of $299.23 and a one year high of $541.21.

Humana Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, June 28th will be issued a dividend of $0.885 per share. This represents a $3.54 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Friday, June 28th. Humana’s dividend payout ratio is currently 17.86%.

Insider Buying and Selling

In related news, Director Jorge S. Mesquita bought 545 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was purchased at an average cost of $367.09 per share, for a total transaction of $200,064.05. Following the purchase, the director now directly owns 2,578 shares in the company, valued at $946,358.02. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.29% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on HUM shares. Stephens dropped their price target on shares of Humana from $550.00 to $430.00 and set an “overweight” rating on the stock in a research note on Friday, January 26th. Raymond James began coverage on shares of Humana in a report on Friday, March 22nd. They issued a “market perform” rating for the company. Bank of America reissued a “neutral” rating and set a $342.00 target price (down from $470.00) on shares of Humana in a research note on Tuesday, April 2nd. Royal Bank of Canada reduced their target price on shares of Humana from $507.00 to $415.00 and set an “outperform” rating for the company in a research note on Friday, January 26th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $630.00 price target on shares of Humana in a research note on Wednesday, January 17th. Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $454.63.

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.