Cibc World Market Inc. Takes $6.01 Million Position in Humana Inc. $HUM

Key Points

• CIBC World Market Inc. initiated a $6.01 million position in Humana by purchasing 15,120 shares during the second quarter. Institutional investors collectively own 92.38% of the company.
• Analyst sentiment remains mixed but has improved, with recent upgrades from Bank of America and Piper Sandler. Humana has an average “Hold” rating and an average price target of $403.91.
• Humana beat quarterly earnings expectations, reporting $7.61 in EPS versus the $7.27 consensus, while revenue rose 26.2% year over year to $40.89 billion.

Cibc World Market Inc. bought a new stake in shares of Humana Inc. (NYSE:HUM - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 15,120 shares of the insurance provider's stock, valued at approximately $6,006,000.

Other hedge funds also recently bought and sold shares of the company. Johnson Financial Group Inc. bought a new stake in Humana during the second quarter valued at about $26,000. Trust Co. of Vermont purchased a new position in shares of Humana in the second quarter valued at about $28,000. Bogart Wealth LLC boosted its stake in shares of Humana by 192.0% in the second 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 period. MidFirst Bank bought a new position in shares of Humana in the second quarter worth about $35,000. Finally, Montag A & Associates Inc. grew its position in shares of Humana by 1,880.0% during the fourth quarter. Montag A & Associates Inc. now owns 99 shares of the insurance provider's stock worth $25,000 after purchasing an additional 94 shares in the last quarter. Institutional investors own 92.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Bank of America raised Humana from a "neutral" rating to a "buy" rating and set a $500.00 target price on the stock in a research note on Wednesday, July 29th. TD Cowen upped their price target on Humana from $350.00 to $370.00 and gave the stock a "hold" rating in a research note on Friday, July 31st. Lake Street Capital started coverage on shares of Humana in a report on Thursday, July 30th. They issued a "buy" rating on the stock. Piper Sandler upgraded shares of Humana from a "hold" rating to an "overweight" rating and set a $463.00 target price for the company in a research report on Thursday, July 30th. Finally, Truist Financial raised their target price on shares of Humana from $320.00 to $415.00 and gave the company a "hold" rating in a research note on Tuesday, July 14th. Fourteen investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Humana presently has an average rating of "Hold" and an average target price of $403.91.

Humana Price Performance

Humana stock opened at $388.92 on Wednesday. Humana Inc. has a 52-week low of $163.11 and a 52-week high of $428.88. 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 firm's fifty day moving average is $383.88 and its 200 day moving average is $285.00. The company has a market cap of $46.70 billion, a price-to-earnings ratio of 36.79, a PEG ratio of 2.20 and a beta of 0.72.

Humana (NYSE:HUM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The insurance provider reported $7.61 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 during the quarter, compared to analysts' expectations of $40.58 billion. During the same period last year, the company posted $6.27 EPS. The business's revenue was up 26.2% on a year-over-year basis. Sell-side analysts forecast that Humana Inc. will post 9.12 EPS for the current fiscal year.

Humana Company Profile

Humana Inc NYSE: HUM is a health insurance company headquartered in Louisville, Kentucky, that primarily serves individuals and groups across the United States. The company is best known for its Medicare business, offering Medicare Advantage plans and prescription drug (Part D) coverage, alongside a range of commercial and employer-sponsored group health plans. Humana's products are designed to cover medical, behavioral health and pharmacy needs for members, with particular emphasis on seniors and Medicare-eligible populations.

In addition to traditional insurance products, Humana provides care-management and wellness services intended to support chronic-condition management, preventive care and care coordination.

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