NewEdge Advisors LLC Buys 1,851 Shares of Humana Inc. (NYSE:HUM)

NewEdge Advisors LLC grew its position in shares of Humana Inc. (NYSE:HUM) by 44.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 5,984 shares of the insurance provider’s stock after acquiring an additional 1,851 shares during the period. NewEdge Advisors LLC’s holdings in Humana were worth $2,236,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in HUM. CarsonAllaria Wealth Management Ltd. boosted its holdings in shares of Humana by 111.4% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 74 shares of the insurance provider’s stock valued at $28,000 after buying an additional 39 shares in the last quarter. Hantz Financial Services Inc. bought a new stake in shares of Humana in the 2nd quarter worth approximately $35,000. Family Firm Inc. purchased a new stake in shares of Humana in the 2nd quarter worth approximately $37,000. Hollencrest Capital Management bought a new position in Humana during the 2nd quarter valued at approximately $40,000. Finally, Riverview Trust Co bought a new stake in Humana in the second quarter worth $44,000. Institutional investors own 92.38% of the company’s stock.

Humana Stock Performance

HUM opened at $240.03 on Friday. The company has a 50 day simple moving average of $337.70 and a two-hundred day simple moving average of $342.42. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.66 and a quick ratio of 1.66. The firm has a market cap of $28.92 billion, a P/E ratio of 14.95, a PEG ratio of 2.44 and a beta of 0.50. Humana Inc. has a 1-year low of $213.31 and a 1-year high of $530.54.

Humana (NYSE:HUM) last posted its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $6.96 EPS for the quarter, beating analysts’ consensus estimates of $5.89 by $1.07. Humana had a return on equity of 16.12% and a net margin of 1.53%. The business had revenue of $29.54 billion for the quarter, compared to analysts’ expectations of $28.52 billion. During the same period last year, the firm earned $8.94 earnings per share. The business’s quarterly revenue was up 10.4% on a year-over-year basis. Equities analysts forecast that Humana Inc. will post 16.01 earnings per share for the current fiscal year.

Humana Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, September 30th will be issued a $0.885 dividend. This represents a $3.54 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Monday, September 30th. Humana’s dividend payout ratio (DPR) is presently 22.04%.

Analyst Upgrades and Downgrades

HUM has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft lowered their price target on Humana from $349.00 to $250.00 and set a “hold” rating for the company in a research report on Thursday. Stephens downgraded shares of Humana from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $400.00 to $250.00 in a research note on Wednesday. Leerink Partners downgraded shares of Humana from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $400.00 to $250.00 in a research report on Wednesday. Bank of America downgraded Humana from a “neutral” rating to an “underperform” rating and cut their target price for the company from $376.00 to $247.00 in a research note on Wednesday. Finally, Piper Sandler downgraded Humana from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $392.00 to $274.00 in a report on Thursday. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Humana currently has an average rating of “Hold” and an average target price of $357.24.

Humana 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.