Sumitomo Mitsui Trust Group Inc. Sells 7,800 Shares of Humana Inc. $HUM

Key Points

• Sumitomo Mitsui Trust Group reduced its Humana stake by 3.1%, selling 7,800 shares and retaining 247,637 shares valued at approximately $94.5 million. Institutional investors collectively own 92.38% of Humana.
• Analyst sentiment remains favorable, with Humana receiving a “Moderate Buy” consensus rating from 32 analysts and an average price target of $453.30.
• Humana shares opened at $409.81, while the company announced a quarterly dividend of $0.885 per share, equivalent to an annualized $3.54 payout and a 0.9% yield.

Sumitomo Mitsui Trust Group Inc. lessened its stake in shares of Humana Inc. (NYSE:HUM - Free Report) by 3.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 247,637 shares of the insurance provider's stock after selling 7,800 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.21% of Humana worth $94,491,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. bought a new position in shares of Humana in the 2nd quarter valued at $4,138,160,000. Pzena Investment Management LLC acquired a new stake in shares of Humana during the 2nd quarter valued at $1,749,014,000. Assenagon Asset Management S.A. grew its position in Humana by 20,126.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,255,479 shares of the insurance provider's stock worth $479,053,000 after acquiring an additional 1,249,272 shares during the last quarter. Legal & General Group Plc bought a new stake in Humana during the 2nd quarter worth $329,760,000. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Humana during the 2nd quarter worth $314,922,000. Institutional investors own 92.38% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on HUM. Wells Fargo & Company raised 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 report on Monday, July 13th. TD Cowen lifted their price target on Humana from $350.00 to $370.00 and gave the company a "hold" rating in a research note on Friday, July 31st. Wall Street Zen cut Humana from a "buy" rating to a "hold" rating in a report on Sunday. Piper Sandler raised Humana from a "hold" rating to an "overweight" rating and set a $463.00 price objective for the company in a research note on Thursday, July 30th. Finally, Morgan Stanley raised Humana from an "underweight" rating to an "overweight" rating in a research note on Friday, October 9th. Twenty-one equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $453.30.

Humana Stock Performance

Shares of Humana stock opened at $409.81 on Tuesday. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.62. Humana Inc. has a twelve month low of $163.11 and a twelve month high of $456.50. The stock has a market cap of $49.21 billion, a price-to-earnings ratio of 23.95, a P/E/G ratio of 2.54 and a beta of 0.74. The company's fifty day moving average is $401.53 and its 200 day moving average is $309.38.

Humana Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 29th. Shareholders of record on Thursday, December 24th will be issued a dividend of $0.8850 per share. The ex-dividend date of this dividend is Thursday, December 24th. This represents a $3.54 annualized dividend and a yield of 0.9%. Humana's payout ratio is presently 33.49%.

Humana Company Profile

Humana Inc is a health and well-being company that provides insurance products and health care services in the United States and Puerto Rico. The company's primary business is government-sponsored health coverage, particularly Medicare Advantage plans for older adults, along with Medicare prescription drug plans, Medicaid coverage and certain commercial health insurance products.

Humana also operates CenterWell, its health care services platform focused on older adults. CenterWell includes primary care clinics, home health services and pharmacy services, with an emphasis on coordinated care, chronic-condition management and helping members receive care in lower-cost settings.

Founded in 1961 as a nursing-home company, Humana expanded into hospital operations before shifting its focus toward health insurance and related services.

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