Humana (NYSE:HUM) Downgraded by Bank of America

Humana (NYSE:HUM) was downgraded by investment analysts at Bank of America from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Wednesday, Briefing.com reports. They currently have a $247.00 price target on the insurance provider’s stock, down from their prior price target of $376.00. Bank of America‘s price objective would indicate a potential upside of 0.21% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Truist Financial raised their target price on Humana from $355.00 to $400.00 and gave the company a “hold” rating in a report on Monday, July 15th. Piper Sandler initiated coverage on Humana in a report on Wednesday, June 26th. They set an “overweight” rating and a $392.00 price target for the company. Royal Bank of Canada raised their target price on Humana from $385.00 to $400.00 and gave the company an “outperform” rating in a research note on Thursday, September 5th. TD Cowen raised their target price on Humana from $396.00 to $407.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. lifted their price target on Humana from $332.00 to $396.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $376.90.

Humana Stock Down 11.8 %

Shares of Humana stock traded down $32.96 during trading on Wednesday, reaching $246.49. The stock had a trading volume of 19,588,151 shares, compared to its average volume of 1,749,847. The company has a market capitalization of $29.70 billion, a price-to-earnings ratio of 15.31, a P/E/G ratio of 2.44 and a beta of 0.50. The stock has a fifty day moving average price of $346.44 and a two-hundred day moving average price of $343.73. Humana has a 52 week low of $213.31 and a 52 week high of $530.54. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.70.

Humana (NYSE:HUM) last released its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $6.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.89 by $1.07. Humana had a return on equity of 16.12% and a net margin of 1.53%. The firm had revenue of $29.54 billion for the quarter, compared to analyst estimates of $28.52 billion. During the same quarter in the prior year, the company earned $8.94 earnings per share. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. Sell-side analysts predict that Humana will post 16.01 EPS for the current fiscal year.

Institutional Trading of Humana

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Humana by 110.7% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 40,400 shares of the insurance provider’s stock worth $15,095,000 after buying an additional 21,225 shares in the last quarter. University of Texas Texas AM Investment Management Co. increased its position in shares of Humana by 1,219.0% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 1,319 shares of the insurance provider’s stock valued at $493,000 after acquiring an additional 1,219 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Humana in the second quarter valued at approximately $3,341,000. Clear Rock Advisors LLC grew its holdings in shares of Humana by 2.3% in the second quarter. Clear Rock Advisors LLC now owns 5,250 shares of the insurance provider’s stock valued at $1,962,000 after purchasing an additional 119 shares in the last quarter. Finally, Heritage Oak Wealth Advisors LLC acquired a new position in shares of Humana in the second quarter valued at approximately $3,456,000. 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.