Corient Private Wealth LP Cuts Stake in Humana Inc. $HUM

Key Points

• Corient Private Wealth LP cut its Humana stake by 15.3% in the second quarter, selling 3,454 shares and retaining 19,114 shares valued at approximately $7.6 million. Institutional investors collectively own 92.38% of Humana.
• Humana reported stronger-than-expected quarterly results, with earnings per share of $7.61 versus the $7.27 consensus estimate and revenue of $40.89 billion, up 26.2% year over year.
• Analyst sentiment remains mixed: 14 analysts rate Humana a Buy, 15 rate it Hold and one rates it Sell, resulting in a consensus Hold rating and an average price target of $403.91. The company also declared a quarterly dividend of $0.885 per share.

Corient Private Wealth LP lowered its stake in shares of Humana Inc. (NYSE:HUM - Free Report) by 15.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,114 shares of the insurance provider's stock after selling 3,454 shares during the period. Corient Private Wealth LP's holdings in Humana were worth $7,594,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Manning & Napier Advisors LLC bought a new position in Humana in the 2nd quarter valued at $1,412,000. Sustainable Insight Capital Management LLC increased its holdings in shares of Humana by 23.7% in the fourth quarter. Sustainable Insight Capital Management LLC now owns 24,757 shares of the insurance provider's stock worth $6,341,000 after purchasing an additional 4,740 shares during the period. Pzena Investment Management LLC purchased a new stake in shares of Humana in the second quarter worth $1,749,014,000. Compass Financial Management LLC purchased a new stake in shares of Humana in the second quarter worth $1,229,000. Finally, Janus Henderson Group PLC grew its position in Humana by 8.8% during the first quarter. Janus Henderson Group PLC now owns 219,065 shares of the insurance provider's stock worth $37,983,000 after buying an additional 17,629 shares in the last quarter. Institutional investors own 92.38% of the company's stock.

Humana Stock Down 0.0%

HUM opened at $384.53 on Friday. The company has a market cap of $46.17 billion, a P/E ratio of 36.38, a P/E/G ratio of 2.38 and a beta of 0.74. The business's 50-day moving average price is $388.76 and its 200-day moving average price is $310.35. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.62. Humana Inc. has a 12 month low of $163.11 and a 12 month high of $428.88.

Humana (NYSE:HUM - Get Free Report) last issued its earnings results on Wednesday, July 29th. The insurance provider reported $7.61 earnings per share for the quarter, beating the consensus estimate of $7.27 by $0.34. Humana had a return on equity of 11.20% and a net margin of 0.88%.The company had revenue of $40.89 billion during the quarter, compared to analysts' expectations of $40.58 billion. During the same period in the prior year, the business posted $6.27 EPS. Humana's quarterly revenue was up 26.2% compared to the same quarter last year. On average, equities analysts expect that Humana Inc. will post 9 EPS for the current year.

Humana Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on HUM shares. Wells Fargo & Company upgraded Humana from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $227.00 to $502.00 in a research note on Monday, July 13th. Barclays raised their price objective on shares of Humana from $344.00 to $407.00 and gave the company an "equal weight" rating in a research report on Friday, July 31st. UBS Group initiated coverage on shares of Humana in a report on Thursday, July 30th. They set a "buy" rating for the company. Weiss Ratings upgraded shares of Humana from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, August 14th. Finally, Cantor Fitzgerald reissued a "neutral" rating on shares of Humana in a research note on Friday, September 4th. Fourteen analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $403.91.

About Humana

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.

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.