Analysts Issue Forecasts for Humana Inc.’s Q2 2024 Earnings (NYSE:HUM)

Humana Inc. (NYSE:HUM) – Equities researchers at Leerink Partnrs decreased their Q2 2024 earnings per share estimates for shares of Humana in a research note issued to investors on Wednesday, April 24th. Leerink Partnrs analyst W. Mayo now expects that the insurance provider will post earnings of $6.74 per share for the quarter, down from their previous estimate of $6.80. The consensus estimate for Humana’s current full-year earnings is $16.06 per share. Leerink Partnrs also issued estimates for Humana’s FY2024 earnings at $16.19 EPS, Q2 2025 earnings at $8.22 EPS and FY2027 earnings at $36.15 EPS.

A number of other equities research analysts have also recently commented on HUM. Raymond James began coverage on Humana in a research note on Friday, March 22nd. They issued a “market perform” rating on the stock. Barclays decreased their target price on shares of Humana from $356.00 to $310.00 and set an “equal weight” rating for the company in a report on Tuesday, April 2nd. Stephens lowered their price objective on Humana from $550.00 to $430.00 and set an “overweight” rating on the stock in a research report on Friday, January 26th. UBS Group decreased their price target on Humana from $334.00 to $326.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, Truist Financial reissued a “hold” rating and issued a $550.00 target price on shares of Humana in a research report on Friday, January 19th. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $433.74.

Humana Stock Performance

Shares of HUM opened at $311.41 on Friday. The company has a quick ratio of 1.59, a current ratio of 1.67 and a debt-to-equity ratio of 0.77. The stock has a market cap of $37.57 billion, a P/E ratio of 19.39, a P/E/G ratio of 1.85 and a beta of 0.45. The business’s 50 day moving average price is $328.56 and its 200-day moving average price is $395.71. Humana has a 52 week low of $299.23 and a 52 week high of $541.21.

Humana (NYSE:HUM) last posted its quarterly earnings data on Wednesday, April 24th. The insurance provider reported $7.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.12 by $1.11. The business 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 17.76% and a net margin of 1.82%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $9.38 earnings per share.

Humana Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, June 28th will be paid a dividend of $0.885 per share. This represents a $3.54 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date is Friday, June 28th. Humana’s dividend payout ratio (DPR) is 22.04%.

Insider Buying and Selling

In related news, Director Jorge S. Mesquita acquired 545 shares of Humana stock in a transaction dated Tuesday, February 20th. The shares were purchased 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 approximately $946,358.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.32% of the stock is currently owned by insiders.

Institutional Trading of Humana

Several hedge funds have recently bought and sold shares of HUM. Norges Bank purchased a new stake in shares of Humana in the fourth quarter worth about $676,800,000. Sanders Capital LLC purchased a new position in shares of Humana in the fourth quarter valued at $489,300,000. Putnam Investments LLC increased its position in Humana by 550.3% in the fourth quarter. Putnam Investments LLC now owns 875,489 shares of the insurance provider’s stock worth $400,808,000 after purchasing an additional 740,858 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Humana by 255.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 620,793 shares of the insurance provider’s stock valued at $215,241,000 after purchasing an additional 446,124 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of Humana by 35.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,523,835 shares of the insurance provider’s stock worth $741,409,000 after buying an additional 402,559 shares in the last quarter. Hedge funds and other institutional investors own 92.38% of the company’s stock.

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.