Humana (NYSE:HUM) Announces 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 for the quarter, topping the consensus estimate of $6.12 by $1.11, RTT News reports. Humana had a net margin of 1.82% and a return on equity of 17.76%. The company had revenue of $29.61 billion for the quarter, compared to the consensus estimate of $28.52 billion. During the same quarter in the prior year, the company earned $9.38 EPS. Humana’s quarterly revenue was up 10.7% on a year-over-year basis. Humana updated its FY24 guidance to approx. $16.00 EPS.

Humana Trading Down 1.4 %

Shares of HUM opened at $311.41 on Friday. Humana has a 52-week low of $299.23 and a 52-week high of $541.21. 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 firm’s fifty day moving average is $328.56 and its two-hundred day moving average is $395.71. The stock has a market cap of $37.57 billion, a PE ratio of 19.39, a price-to-earnings-growth ratio of 1.85 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. Shareholders of record on Friday, June 28th will be paid 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 1.14%. Humana’s dividend payout ratio (DPR) is presently 22.04%.

Insiders Place Their Bets

In other Humana news, Director Jorge S. Mesquita bought 545 shares of the stock in a transaction on Tuesday, February 20th. The shares were bought at an average price of $367.09 per share, with a total value of $200,064.05. Following the purchase, the director now directly owns 2,578 shares in the company, valued at approximately $946,358.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.32% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HUM. The Goldman Sachs Group cut their price target on shares of Humana from $450.00 to $385.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. Royal Bank of Canada dropped their price objective on shares of Humana from $415.00 to $353.00 and set an “outperform” rating on the stock in a research note on Thursday. Wells Fargo & Company dropped their price objective on shares of Humana from $413.00 to $350.00 and set an “overweight” rating on the stock in a research note on Monday, April 8th. Oppenheimer dropped their price objective on shares of Humana from $415.00 to $370.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Stephens dropped their price objective on shares of Humana from $550.00 to $430.00 and set an “overweight” rating on the stock in a research note on Friday, January 26th. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Humana presently has an average rating of “Hold” and an average target price of $433.74.

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.