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.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Royal Bank of Canada decreased their price objective on shares of Humana from $415.00 to $353.00 and set an outperform rating for the company in a research report on Thursday. Cantor Fitzgerald cut their target price on shares of Humana from $391.00 to $360.00 and set a neutral rating on the stock in a report on Thursday. Argus lowered shares of Humana from a buy rating to a hold rating in a research note on Wednesday, March 13th. Truist Financial reiterated a hold rating and set a $550.00 price objective on shares of Humana in a research note on Friday, January 19th. Finally, TheStreet cut shares of Humana from a b rating to a c+ rating in a report on Monday, January 8th. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Hold and an average price target of $433.74.

Humana Stock Down 1.1 %

HUM traded down $3.53 during trading on Friday, hitting $307.88. 468,188 shares of the company’s stock were exchanged, compared to its average volume of 1,985,533. 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 $328.56 and its two-hundred day moving average is $395.71. Humana has a fifty-two week low of $299.23 and a fifty-two week high of $541.21. The stock has a market cap of $37.15 billion, a P/E ratio of 19.18, a PEG ratio of 1.85 and a beta of 0.45.

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

Humana Dividend Announcement

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 given a dividend of $0.885 per share. This represents a $3.54 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date is Friday, June 28th. Humana’s payout ratio is currently 22.04%.

Insider Transactions at Humana

In other news, Director Jorge S. Mesquita acquired 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 transaction, the director now owns 2,578 shares of the company’s stock, valued at approximately $946,358.02. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.32% 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.