Humana (NYSE:HUM) Updates FY24 Earnings Guidance

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on HUM. Argus downgraded shares of Humana from a buy rating to a hold rating in a research note on Wednesday, March 13th. Jefferies Financial Group lowered their price objective on shares of Humana from $411.00 to $381.00 and set a buy rating for the company in a research note on Monday. Bank of America reaffirmed a neutral rating and set a $342.00 price objective (down from $470.00) on shares of Humana in a research note on Tuesday, April 2nd. Stephens reduced their price target on shares of Humana from $550.00 to $430.00 and set an overweight rating on the stock in a research report on Friday, January 26th. Finally, Barclays reduced their price target on shares of Humana from $356.00 to $310.00 and set an equal weight rating on the stock in a research report on Tuesday, April 2nd. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $433.74.

Humana Stock Down 1.1 %

HUM traded down $3.53 during midday trading on Friday, reaching $307.88. The company’s stock had a trading volume of 468,188 shares, compared to its average volume of 1,985,533. The firm has a market capitalization of $37.15 billion, a price-to-earnings ratio of 19.18, a PEG ratio of 1.85 and a beta of 0.45. The company has a current ratio of 1.67, a quick ratio of 1.59 and a debt-to-equity ratio of 0.77. Humana has a 1 year low of $299.23 and a 1 year high of $541.21. The stock’s 50-day moving average is $328.56 and its 200-day moving average is $395.71.

Humana (NYSE:HUM) last posted its quarterly earnings results on Wednesday, April 24th. The insurance provider reported $7.23 EPS for the quarter, beating analysts’ consensus estimates of $6.12 by $1.11. Humana had a net margin of 1.82% and a return on equity of 17.76%. The firm had revenue of $29.61 billion for the quarter, compared to analysts’ expectations of $28.52 billion. During the same quarter in the prior year, the company posted $9.38 earnings per share. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, research analysts expect that Humana will post 16.06 EPS for the current year.

Humana Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.885 per share. This represents a $3.54 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend is Friday, June 28th. Humana’s payout ratio is 22.04%.

Insider Activity at Humana

In related news, Director Jorge S. Mesquita acquired 545 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were bought at an average price of $367.09 per share, for a total transaction of $200,064.05. Following the completion of the transaction, the director now directly owns 2,578 shares in the company, valued at $946,358.02. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.32% of the stock is owned by insiders.

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.