Humana (NYSE:HUM) Releases Quarterly Earnings Results, Beats Expectations By $1.11 EPS

Humana (NYSE:HUM) issued its earnings results 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. The company had revenue of $29.61 billion during the quarter, compared to the consensus estimate of $28.52 billion. Humana had a return on equity of 19.44% and a net margin of 2.34%. The company’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $9.38 earnings per share. Humana updated its FY24 guidance to approx. $16.00 EPS.

Humana Price Performance

Shares of NYSE:HUM opened at $316.04 on Thursday. 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 has a 1 year low of $299.23 and a 1 year high of $541.21. The business has a fifty day simple moving average of $329.24 and a 200 day simple moving average of $396.94. The firm has a market cap of $38.13 billion, a price-to-earnings ratio of 15.95, a P/E/G ratio of 1.92 and a beta of 0.45.

Humana Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, June 28th will be given a $0.885 dividend. The ex-dividend date is Friday, June 28th. This represents a $3.54 annualized dividend and a dividend yield of 1.12%. Humana’s dividend payout ratio (DPR) is presently 17.86%.

Analyst Ratings Changes

Several analysts have issued reports on HUM shares. Royal Bank of Canada cut their price objective on Humana from $507.00 to $415.00 and set an “outperform” rating on the stock in a research note on Friday, January 26th. Stephens cut their price objective on Humana from $550.00 to $430.00 and set an “overweight” rating on the stock in a research note on Friday, January 26th. Argus cut Humana from a “buy” rating to a “hold” rating in a research note on Wednesday, March 13th. StockNews.com cut Humana from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 26th. Finally, Truist Financial restated a “hold” rating and set a $550.00 price objective on shares of Humana in a research note on Friday, January 19th. Eleven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $454.63.

Insider Buying and Selling

In other news, Director Jorge S. Mesquita acquired 545 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was acquired at an average cost of $367.09 per share, for a total transaction of $200,064.05. Following the completion of the acquisition, the director now owns 2,578 shares in the company, valued at $946,358.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.32% of the stock is owned by corporate insiders.

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.