Leerink Partnrs Weighs in on Humana Inc.’s Q2 2024 Earnings (NYSE:HUM)

Humana Inc. (NYSE:HUM) – Investment analysts at Leerink Partnrs dropped their Q2 2024 earnings per share (EPS) estimates for shares of Humana in a research note issued to investors on Wednesday, April 24th. Leerink Partnrs analyst W. Mayo now expects that the insurance provider will post earnings per share of $6.74 for the quarter, down from their prior estimate of $6.80. The consensus estimate for Humana’s current full-year earnings is $16.06 per share. Leerink Partnrs also issued estimates for Humana’s FY2024 earnings at $16.19 EPS, Q2 2025 earnings at $8.22 EPS and FY2027 earnings at $36.15 EPS.

Humana (NYSE:HUM) last posted its quarterly earnings data on Wednesday, April 24th. The insurance provider reported $7.23 earnings per share for the quarter, topping analysts’ consensus estimates of $6.12 by $1.11. Humana had a net margin of 1.82% and a return on equity of 17.76%. The firm had revenue of $29.61 billion during the quarter, compared to analysts’ expectations of $28.52 billion. During the same quarter last year, the company posted $9.38 EPS. The firm’s quarterly revenue was up 10.7% on a year-over-year basis.

HUM has been the topic of a number of other reports. StockNews.com lowered shares of Humana from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 26th. Wells Fargo & Company dropped their price objective on shares of Humana from $413.00 to $350.00 and set an “overweight” rating on the stock in a research report on Monday, April 8th. The Goldman Sachs Group lowered their target price on shares of Humana from $450.00 to $385.00 and set a “buy” rating for the company in a research note on Wednesday, April 3rd. Jefferies Financial Group decreased their price target on Humana from $411.00 to $381.00 and set a “buy” rating for the company in a report on Monday. Finally, Mizuho dropped their price objective on Humana from $550.00 to $400.00 and set a “buy” rating on the stock in a report on Friday, January 26th. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $433.74.

Humana Price Performance

HUM stock opened at $311.41 on Friday. The business’s fifty day moving average price is $328.56 and its 200 day moving average price is $395.71. Humana has a 12-month low of $299.23 and a 12-month high of $541.21. The company has a current ratio of 1.67, a quick ratio of 1.59 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $37.57 billion, a PE ratio of 19.39, a P/E/G ratio of 1.85 and a beta of 0.45.

Humana Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, June 28th will be given a dividend of $0.885 per share. This represents a $3.54 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Friday, June 28th. Humana’s payout ratio is currently 22.04%.

Insider Activity

In related news, Director Jorge S. Mesquita bought 545 shares of Humana stock in a transaction that occurred on Tuesday, February 20th. The shares were purchased at an average price of $367.09 per share, with a total value of $200,064.05. Following the purchase, the director now owns 2,578 shares in the company, valued at $946,358.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Humana

Several institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Humana in the fourth quarter worth approximately $676,800,000. Sanders Capital LLC purchased a new position in Humana in the 4th quarter worth approximately $489,300,000. Putnam Investments LLC grew its position in Humana by 550.3% in the fourth quarter. Putnam Investments LLC now owns 875,489 shares of the insurance provider’s stock valued at $400,808,000 after acquiring an additional 740,858 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Humana by 255.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 620,793 shares of the insurance provider’s stock valued at $215,241,000 after purchasing an additional 446,124 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in shares of Humana by 35.9% in the third quarter. Ameriprise Financial Inc. now owns 1,523,835 shares of the insurance provider’s stock valued at $741,409,000 after purchasing an additional 402,559 shares during the period. Hedge funds and other institutional investors 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.