Redwood Grove Capital LLC Acquires Shares of 55,570 Humana Inc. (NYSE:HUM)

Redwood Grove Capital LLC bought a new position in Humana Inc. (NYSE:HUM) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 55,570 shares of the insurance provider’s stock, valued at approximately $14,099,000. Humana comprises 4.4% of Redwood Grove Capital LLC’s holdings, making the stock its 13th largest holding.

Several other institutional investors also recently modified their holdings of the business. Transcend Capital Advisors LLC increased its holdings in Humana by 399.7% during the fourth quarter. Transcend Capital Advisors LLC now owns 3,643 shares of the insurance provider’s stock worth $924,000 after buying an additional 2,914 shares during the last quarter. Retirement Systems of Alabama lifted its stake in Humana by 735.9% in the fourth quarter. Retirement Systems of Alabama now owns 219,002 shares of the insurance provider’s stock valued at $55,563,000 after purchasing an additional 192,801 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Humana by 7.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 964,926 shares of the insurance provider’s stock valued at $244,811,000 after purchasing an additional 65,735 shares during the period. Secure Asset Management LLC purchased a new stake in Humana in the fourth quarter worth $244,000. Finally, denkapparat Operations GmbH bought a new stake in shares of Humana in the fourth quarter valued at $323,000. 92.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on HUM. Truist Financial decreased their price objective on Humana from $325.00 to $305.00 and set a “hold” rating for the company in a report on Monday. Piper Sandler lifted their target price on shares of Humana from $270.00 to $288.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 15th. Guggenheim began coverage on shares of Humana in a research report on Wednesday, April 9th. They issued a “buy” rating and a $326.00 price target on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $283.00 price objective on shares of Humana in a report on Wednesday, February 12th. Finally, StockNews.com upgraded shares of Humana from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Seventeen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Humana currently has a consensus rating of “Hold” and an average target price of $286.81.

Humana Stock Up 0.6%

HUM opened at $230.28 on Thursday. The business’s fifty day simple moving average is $263.70 and its 200 day simple moving average is $269.85. Humana Inc. has a 52 week low of $213.31 and a 52 week high of $406.46. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.68. The stock has a market cap of $27.79 billion, a PE ratio of 23.14, a P/E/G ratio of 2.05 and a beta of 0.49.

Humana (NYSE:HUM) last announced its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $11.58 EPS for the quarter, beating the consensus estimate of $10.07 by $1.51. The firm had revenue of $32.11 billion for the quarter, compared to analyst estimates of $32 billion. Humana had a return on equity of 11.70% and a net margin of 1.02%. The company’s revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the company earned $7.23 EPS. As a group, research analysts expect that Humana Inc. will post 16.47 earnings per share for the current fiscal year.

Humana Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, June 27th will be paid a $0.885 dividend. The ex-dividend date is Friday, June 27th. This represents a $3.54 dividend on an annualized basis and a dividend yield of 1.54%. Humana’s dividend payout ratio (DPR) is 25.04%.

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.