Humana (NYSE:HUM) Announces Quarterly Earnings Results, Beats Estimates By $1.11 EPS

Humana (NYSE:HUM - Get Free Report) issued its quarterly earnings results on Wednesday. The insurance provider reported $7.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.12 by $1.11, RTT News reports. The company had revenue of $29.61 billion for the quarter, compared to analyst estimates of $28.52 billion. Humana had a net margin of 2.34% and a return on equity of 19.44%. The business's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $9.38 earnings per share. Humana updated its FY24 guidance to approx. $16.00 EPS.

Humana Stock Performance

Shares of NYSE HUM traded down $11.94 during mid-day trading on Wednesday, hitting $316.04. 3,488,066 shares of the company were exchanged, compared to its average volume of 2,006,808. Humana has a 1-year low of $299.23 and a 1-year high of $541.21. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.63. The stock has a 50 day simple moving average of $329.86 and a 200-day simple moving average of $398.38. The firm has a market cap of $38.13 billion, a price-to-earnings ratio of 15.95, a price-to-earnings-growth ratio of 1.91 and a beta of 0.45.

Humana Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, June 28th will be issued a dividend of $0.885 per share. This represents a $3.54 annualized dividend and a dividend yield of 1.12%. The ex-dividend date is Friday, June 28th. Humana's dividend payout ratio is presently 17.86%.

Insider Buying and Selling at Humana

In other Humana news, Director Jorge S. Mesquita bought 545 shares of Humana stock in a transaction on Tuesday, February 20th. The stock was bought at an average price of $367.09 per share, with a total value of $200,064.05. Following the completion of the acquisition, the director now owns 2,578 shares in the company, valued at $946,358.02. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

HUM has been the topic of several research reports. TheStreet cut shares of Humana from a "b" rating to a "c+" rating in a research report on Monday, January 8th. Oppenheimer reissued an "outperform" rating and set a $630.00 price target on shares of Humana in a research report on Wednesday, January 17th. Bank of America reaffirmed a "neutral" rating and issued a $342.00 target price (down previously from $470.00) on shares of Humana in a report on Tuesday, April 2nd. Wells Fargo & Company dropped their price target on shares of Humana from $413.00 to $350.00 and set an "overweight" rating on the stock in a research note on Monday, April 8th. Finally, UBS Group reiterated a "neutral" rating and issued a $370.00 price target (down from $530.00) on shares of Humana in a research note on Friday, January 26th. Eleven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $454.63.

Humana Company Profile

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.