CIBC Asset Management Inc Increases Stock Position in Humana Inc. (NYSE:HUM)

CIBC Asset Management Inc raised its position in shares of Humana Inc. (NYSE:HUM) by 7.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 17,755 shares of the insurance provider’s stock after purchasing an additional 1,274 shares during the period. CIBC Asset Management Inc’s holdings in Humana were worth $5,624,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV lifted its position in Humana by 244.0% during the third quarter. Creative Financial Designs Inc. ADV now owns 86 shares of the insurance provider’s stock valued at $27,000 after buying an additional 61 shares during the period. CarsonAllaria Wealth Management Ltd. increased its holdings in Humana by 111.4% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 74 shares of the insurance provider’s stock worth $28,000 after buying an additional 39 shares in the last quarter. Atwood & Palmer Inc. bought a new stake in Humana in the 3rd quarter worth about $29,000. Ashton Thomas Securities LLC bought a new stake in Humana in the 3rd quarter worth about $31,000. Finally, Your Advocates Ltd. LLP increased its holdings in Humana by 81.8% in the 3rd quarter. Your Advocates Ltd. LLP now owns 100 shares of the insurance provider’s stock worth $32,000 after buying an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 92.38% of the company’s stock.

Humana Stock Down 2.6 %

NYSE HUM opened at $275.67 on Monday. The stock’s 50 day moving average is $281.36 and its 200 day moving average is $331.94. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.67. Humana Inc. has a 12 month low of $213.31 and a 12 month high of $527.18. The stock has a market cap of $33.19 billion, a PE ratio of 24.42, a P/E/G ratio of 2.17 and a beta of 0.52.

Humana (NYSE:HUM) last posted its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $4.16 EPS for the quarter, topping analysts’ consensus estimates of $3.48 by $0.68. Humana had a return on equity of 13.20% and a net margin of 1.18%. The company had revenue of $29.30 billion for the quarter, compared to analysts’ expectations of $28.66 billion. Research analysts predict that Humana Inc. will post 15.86 EPS for the current fiscal year.

Humana Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.885 dividend. This represents a $3.54 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Tuesday, December 31st. Humana’s payout ratio is 31.36%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on HUM shares. Leerink Partners downgraded Humana from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $400.00 to $250.00 in a report on Wednesday, October 2nd. KeyCorp started coverage on Humana in a report on Friday, October 11th. They issued a “sector weight” rating for the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $395.00 price objective on shares of Humana in a report on Tuesday, October 1st. Oppenheimer reduced their price objective on Humana from $400.00 to $280.00 and set an “outperform” rating for the company in a report on Thursday, October 3rd. Finally, Sanford C. Bernstein upgraded Humana from a “market perform” rating to an “outperform” rating and set a $308.00 price target for the company in a research note on Tuesday, October 8th. Twenty investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Humana presently has an average rating of “Hold” and a consensus target price of $315.86.

Humana 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.