Humana (NYSE:HUM) Price Target Lowered to $344.00 at Wells Fargo & Company

Key Points

• Wells Fargo & Company has reduced its price target for Humana from $348.00 to $344.00, while maintaining an "overweight" rating, indicating a potential upside of 22.46% from the stock's previous close.
• Other analysts have similarly lowered their targets, with Truist Financial and Bank of America both reducing theirs to $260.00, suggesting a cautious outlook overall as the average analyst rating is currently a "hold."
• Despite a slight decline in stock price by 0.4% to $280.91, Humana reported strong quarterly revenues of $32.39 billion, exceeding analysts' expectations.

Humana (NYSE:HUM - Get Free Report) had its price target decreased by equities researchers at Wells Fargo & Company from $348.00 to $344.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the insurance provider's stock. Wells Fargo & Company's price objective points to a potential upside of 22.46% from the company's previous close.

A number of other equities analysts have also issued reports on the stock. Truist Financial lowered their target price on shares of Humana from $280.00 to $260.00 and set a "hold" rating on the stock in a research report on Wednesday, July 16th. Bank of America lowered their target price on shares of Humana from $320.00 to $260.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 17th. Morgan Stanley lowered their target price on shares of Humana from $290.00 to $277.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 31st. Raymond James Financial upgraded shares of Humana from a "market perform" rating to an "outperform" rating and set a $315.00 target price on the stock in a research report on Thursday, May 1st. Finally, Wall Street Zen lowered shares of Humana from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Eighteen analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Humana currently has an average rating of "Hold" and a consensus price target of $281.45.

Humana Stock Down 0.4%

Humana stock traded down $1.08 during mid-day trading on Thursday, hitting $280.91. The company had a trading volume of 132,586 shares, compared to its average volume of 1,729,994. The stock has a market cap of $33.79 billion, a price-to-earnings ratio of 21.52, a PEG ratio of 1.62 and a beta of 0.44. Humana has a 1 year low of $206.87 and a 1 year high of $382.72. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.69. The business has a fifty day moving average of $240.47 and a 200 day moving average of $254.05.

Humana (NYSE:HUM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $6.27 EPS for the quarter, missing the consensus estimate of $6.32 by ($0.05). The company had revenue of $32.39 billion during the quarter, compared to analysts' expectations of $31.85 billion. Humana had a net margin of 1.28% and a return on equity of 13.67%. The business's revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.96 earnings per share. On average, sell-side analysts expect that Humana will post 16.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in HUM. Revolve Wealth Partners LLC acquired a new position in shares of Humana during the 4th quarter worth $202,000. Raymond James Financial Inc. acquired a new position in Humana in the 4th quarter valued at about $26,720,000. Mariner LLC raised its stake in Humana by 4.0% in the 4th quarter. Mariner LLC now owns 13,461 shares of the insurance provider's stock valued at $3,415,000 after purchasing an additional 517 shares during the last quarter. Canada Post Corp Registered Pension Plan acquired a new position in Humana in the 4th quarter valued at about $271,000. Finally, Insigneo Advisory Services LLC raised its stake in Humana by 17.3% in the 4th quarter. Insigneo Advisory Services LLC now owns 1,360 shares of the insurance provider's stock valued at $345,000 after purchasing an additional 201 shares during the last quarter. Institutional investors and hedge funds own 92.38% of the company's stock.

About Humana

Humana Inc, together with its subsidiaries, provides medical and specialty insurance products in the United States. It operates through two segments, Insurance and CenterWell. The company offers medical and supplemental benefit plans to individuals. It has a contract with Centers for Medicare and Medicaid Services to administer the Limited Income Newly Eligible Transition prescription drug plan program; and contracts with various states to provide Medicaid, dual eligible, and long-term support services benefits.

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