Humana Inc. $HUM Stake Lowered by 8 Knots Management LLC

Key Points

• 8 Knots Management LLC significantly cut its stake in Humana Inc. by 90%, holding 57,278 shares after selling 515,256 shares, making Humana only 1.9% of its investment portfolio.
• In the latest quarter, Humana reported $6.27 EPS, slightly missing estimates, but its revenue of $32.39 billion exceeded expectations, marking a 9.6% year-over-year increase.
• Humana announced a quarterly dividend of $0.885 per share, with a dividend yield of 1.2%, scheduled for payment at the end of October.

8 Knots Management LLC trimmed its position in Humana Inc. (NYSE:HUM - Free Report) by 90.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,278 shares of the insurance provider's stock after selling 515,256 shares during the quarter. Humana accounts for approximately 1.9% of 8 Knots Management LLC's holdings, making the stock its 15th biggest holding. 8 Knots Management LLC's holdings in Humana were worth $15,156,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Cary Street Partners Investment Advisory LLC lifted its stake in Humana by 63.9% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 118 shares of the insurance provider's stock valued at $31,000 after acquiring an additional 46 shares during the period. Riverview Trust Co bought a new stake in Humana in the first quarter worth $34,000. Garde Capital Inc. bought a new stake in shares of Humana during the first quarter worth $36,000. Zions Bancorporation National Association UT purchased a new position in shares of Humana during the first quarter valued at $37,000. Finally, Whipplewood Advisors LLC increased its stake in shares of Humana by 639.1% during the first quarter. Whipplewood Advisors LLC now owns 170 shares of the insurance provider's stock valued at $45,000 after buying an additional 147 shares during the period. 92.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HUM has been the topic of several analyst reports. Robert W. Baird cut their target price on Humana from $300.00 to $297.00 and set a "neutral" rating on the stock in a research note on Friday, July 25th. Wall Street Zen downgraded Humana from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Barclays set a $275.00 target price on Humana and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Truist Financial reduced their target price on Humana from $280.00 to $260.00 and set a "hold" rating for the company in a research note on Wednesday, July 16th. Finally, Wells Fargo & Company dropped their price target on Humana from $348.00 to $344.00 and set an "overweight" rating for the company in a research report on Thursday, August 14th. Seven investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $285.76.

Humana Stock Performance

NYSE:HUM traded up $2.16 during mid-day trading on Wednesday, reaching $312.22. 1,739,414 shares of the stock were exchanged, compared to its average volume of 1,300,707. The company has a 50 day simple moving average of $258.71 and a 200-day simple moving average of $255.72. The stock has a market capitalization of $37.55 billion, a P/E ratio of 23.96, a P/E/G ratio of 1.79 and a beta of 0.44. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.69. Humana Inc. has a 1 year low of $206.87 and a 1 year high of $382.72.

Humana (NYSE:HUM - Get Free Report) last announced its earnings results on Wednesday, July 30th. The insurance provider reported $6.27 earnings per share for the quarter, missing the consensus estimate of $6.32 by ($0.05). The company had revenue of $32.39 billion during the quarter, compared to analysts' expectations of $31.85 billion. Humana had a net margin of 1.28% and a return on equity of 13.67%. The company's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $6.96 earnings per share. Humana has set its FY 2025 guidance at 17.000- EPS. Analysts anticipate that Humana Inc. will post 16.47 earnings per share for the current fiscal year.

Humana Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, September 26th will be given a $0.885 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $3.54 dividend on an annualized basis and a dividend yield of 1.1%. Humana's payout ratio is currently 27.17%.

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.