Freestone Grove Partners LP Invests $20.41 Million in Humana Inc. $HUM

Key Points

• Freestone Grove Partners acquired 51,390 Humana shares in the second quarter, valued at approximately $20.41 million. Institutional investors collectively own 92.38% of Humana’s outstanding stock.
• Humana’s latest quarterly results exceeded expectations, with earnings of $7.61 per share versus the $7.27 consensus estimate and revenue of $40.89 billion, up 26.2% year over year.
• Analyst sentiment is mixed: the stock has a consensus “Hold” rating and a $403.91 price target, while individual targets range from $370 to $463.

Freestone Grove Partners LP purchased a new stake in Humana Inc. (NYSE:HUM - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 51,390 shares of the insurance provider's stock, valued at approximately $20,413,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Montag A & Associates Inc. grew its position in 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 buying an additional 94 shares during the period. Johnson Financial Group Inc. purchased a new stake in shares of Humana during the 2nd quarter worth approximately $26,000. Fideuram Asset Management Ireland dac purchased a new stake in shares of Humana during the 4th quarter worth approximately $27,000. Trust Co. of Vermont acquired a new stake in shares of Humana in the 2nd quarter worth approximately $28,000. Finally, Reflection Asset Management purchased a new position in Humana in the 4th quarter valued at approximately $29,000. Hedge funds and other institutional investors own 92.38% of the company's stock.

Humana Price Performance

Humana stock opened at $392.72 on Friday. The stock has a market capitalization of $47.16 billion, a P/E ratio of 37.15, a P/E/G ratio of 2.23 and a beta of 0.72. Humana Inc. has a 12-month low of $163.11 and a 12-month high of $428.88. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.74 and a quick ratio of 1.74. The firm's 50-day moving average is $385.08 and its two-hundred day moving average is $287.78.

Humana (NYSE:HUM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The insurance provider reported $7.61 earnings per share for the quarter, beating analysts' consensus estimates of $7.27 by $0.34. The business had revenue of $40.89 billion during the quarter, compared to analyst estimates of $40.58 billion. Humana had a net margin of 0.88% and a return on equity of 11.20%. The company's revenue was up 26.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.27 earnings per share. Equities analysts predict that Humana Inc. will post 9.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. HSBC downgraded Humana to a "hold" rating in a research report on Thursday, July 30th. Needham & Company LLC assumed coverage on Humana in a research note on Wednesday, May 20th. They set a "buy" rating for the company. Truist Financial boosted their price objective on shares of Humana from $320.00 to $415.00 and gave the stock a "hold" rating in a research report on Tuesday, July 14th. Morgan Stanley raised shares of Humana from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $249.00 to $370.00 in a research note on Tuesday, August 4th. Finally, 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 report on Thursday, July 30th. Fourteen research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $403.91.

Humana 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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