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

Humana (NYSE:HUM) issued its quarterly earnings results on Wednesday. The insurance provider reported $7.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $29.61 billion for the quarter, compared to analyst estimates of $28.52 billion. During the same period last year, the company earned $9.38 EPS. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. Humana updated its FY24 guidance to approx. $16.00 EPS.

Humana Stock Performance

Shares of HUM opened at $305.91 on Friday. The firm has a market cap of $36.86 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 1.82 and a beta of 0.45. 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 business’s 50 day moving average is $327.77 and its two-hundred day moving average is $394.49. Humana has a 52-week low of $299.23 and a 52-week high of $541.21.

Humana Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on HUM shares. Raymond James assumed coverage on shares of Humana in a report on Friday, March 22nd. They issued a “market perform” rating for the company. Stephens lowered their price objective on shares of Humana from $550.00 to $430.00 and set an “overweight” rating for the company in a research note on Friday, January 26th. Mizuho cut their target price on Humana from $550.00 to $400.00 and set a “buy” rating on the stock in a research report on Friday, January 26th. The Goldman Sachs Group lowered their price target on Humana from $450.00 to $385.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. Finally, Oppenheimer cut their price objective on Humana from $415.00 to $370.00 and set an “outperform” rating on the stock in a report on Thursday. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Humana has an average rating of “Hold” and a consensus target price of $433.74.

Insider Transactions at Humana

In related news, Director Jorge S. Mesquita purchased 545 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were purchased at an average cost of $367.09 per share, with a total value of $200,064.05. Following the completion of the acquisition, the director now directly owns 2,578 shares of the company’s stock, valued at approximately $946,358.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.32% of the company’s stock.

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.