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

Humana (NYSE:HUM) released its earnings results on Wednesday. The insurance provider reported $7.23 earnings per share (EPS) 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 analyst estimates of $28.52 billion. Humana had a net margin of 2.34% and a return on equity of 19.44%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $9.38 EPS. 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 debt-to-equity ratio of 0.63, a quick ratio of 1.59 and a current ratio of 1.59. The company has a market cap of $38.13 billion, a PE ratio of 15.95, a P/E/G ratio of 1.92 and a beta of 0.45. The business has a 50-day simple moving average of $329.24 and a two-hundred day simple moving average of $396.94. Humana has a fifty-two week low of $299.23 and a fifty-two week high of $541.21.

Humana Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on HUM shares. Stephens cut their price objective on shares of Humana from $550.00 to $430.00 and set an “overweight” rating for the company in a report on Friday, January 26th. Truist Financial reiterated a “hold” rating and set a $550.00 target price on shares of Humana in a research report on Friday, January 19th. Wells Fargo & Company lowered their target price on Humana from $413.00 to $350.00 and set an “overweight” rating for the company in a research report on Monday, April 8th. UBS Group reiterated a “neutral” rating and set a $370.00 target price (down from $530.00) on shares of Humana in a research report on Friday, January 26th. Finally, Argus downgraded Humana from a “buy” rating to a “hold” rating in a research report on Wednesday, March 13th. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $454.63.

Insiders Place Their Bets

In other Humana news, Director Jorge S. Mesquita purchased 545 shares of the stock in a transaction on Tuesday, February 20th. The stock was acquired at an average price of $367.09 per share, with a total value 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 acquisition was disclosed in a filing with the SEC, which is available at this link. 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.