Bank of America Corp DE Invests $279.49 Million in Humana Inc. $HUM

Key Points

• Bank of America acquired 703,615 Humana shares in the second quarter, valued at approximately $279.5 million and representing about 0.59% of the company. Institutional investors collectively own 92.38% of Humana.
• Humana reported quarterly EPS of $7.61, exceeding estimates of $7.27, while revenue rose 26.2% year over year to $40.89 billion. The company also declared a quarterly dividend of $0.885 per share, or $3.54 annually.
• Humana shares were trading at $384.46 after a 3.1% decline, while analysts maintained a broadly cautious outlook: 14 rated the stock Buy, 15 Hold and one Sell, with a consensus price target of $403.91.

Bank of America Corp DE acquired a new stake in shares of Humana Inc. (NYSE:HUM - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 703,615 shares of the insurance provider's stock, valued at approximately $279,490,000. Bank of America Corp DE owned approximately 0.59% of Humana as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in HUM. Johnson Financial Group Inc. purchased a new stake in Humana in the second quarter worth approximately $26,000. Fideuram Asset Management Ireland dac purchased a new position in shares of Humana during the fourth quarter worth approximately $27,000. Trust Co. of Vermont purchased a new position in shares of Humana during the second quarter worth approximately $28,000. Reflection Asset Management bought a new stake in shares of Humana in the 4th quarter worth approximately $29,000. Finally, Bogart Wealth LLC lifted its holdings in shares of Humana by 192.0% in the 2nd quarter. Bogart Wealth LLC now owns 73 shares of the insurance provider's stock worth $29,000 after acquiring an additional 48 shares during the last quarter. 92.38% of the stock is owned by institutional investors.

Humana Trading Down 3.1%

NYSE:HUM opened at $384.46 on Thursday. The firm has a market capitalization of $46.17 billion, a P/E ratio of 36.37, a P/E/G ratio of 2.45 and a beta of 0.74. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.62. The company has a fifty day moving average of $389.02 and a 200 day moving average of $308.99. Humana Inc. has a 52 week low of $163.11 and a 52 week high of $428.88.

Humana (NYSE:HUM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The insurance provider reported $7.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.27 by $0.34. Humana had a net margin of 0.88% and a return on equity of 11.20%. The business had revenue of $40.89 billion for the quarter, compared to analyst estimates of $40.58 billion. During the same quarter last year, the firm earned $6.27 EPS. The company's revenue was up 26.2% on a year-over-year basis. On average, research analysts predict that Humana Inc. will post 9 earnings per share for the current year.

Humana Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Friday, October 30th will be issued a dividend of $0.885 per share. This represents a $3.54 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, October 30th. Humana's payout ratio is currently 33.49%.

Analysts Set New Price Targets

Several equities analysts recently commented on HUM shares. JPMorgan Chase & Co. increased their target price on shares of Humana from $316.00 to $393.00 and gave the company a "neutral" rating in a report on Monday, August 10th. Truist Financial boosted their price target on shares of Humana from $320.00 to $415.00 and gave the stock a "hold" rating in a research note on Tuesday, July 14th. Zacks Research lowered shares of Humana from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 11th. Royal Bank Of Canada raised their price objective on Humana from $246.00 to $415.00 and gave the company a "sector perform" rating in a research note on Thursday, July 9th. Finally, Robert W. Baird set a $390.00 price objective on Humana in a report on Thursday, July 30th. Fourteen equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Humana currently has an average rating of "Hold" and a consensus target price of $403.91.

Humana Company Profile

Humana Inc NYSE: HUM is a U.S.-based health insurance and health care services company focused primarily on government-sponsored programs. Its offerings include Medicare Advantage plans, Medicare prescription drug plans, Medicaid coverage and specialty insurance products, serving individuals, employers and government organizations.

Through its CenterWell business, Humana also provides senior-focused primary care, pharmacy services and home health care. These operations are designed to support coordinated care for older adults and other members with ongoing health care needs.

Humana was founded in 1961 as a nursing-home company and later expanded into hospital ownership before shifting its focus toward health insurance.

Want to see what other hedge funds are holding HUM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Humana Inc. (NYSE:HUM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.