Humana (NYSE:HUM) Stock Price Up 0.9% Following Dividend Announcement

Humana Inc. (NYSE:HUM)’s share price rose 0.9% during mid-day trading on Thursday following a dividend announcement from the company. The company traded as high as $331.00 and last traded at $326.39. Approximately 415,977 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 1,993,478 shares. The stock had previously closed at $323.46.

The newly announced dividend which will be paid on Friday, July 26th. Stockholders of record on Friday, June 28th will be issued a $0.885 dividend. The ex-dividend date is Friday, June 28th. This represents a $3.54 annualized dividend and a dividend yield of 1.08%. Humana’s dividend payout ratio (DPR) is presently 17.86%.

Analysts Set New Price Targets

HUM has been the topic of several recent analyst reports. Truist Financial reaffirmed a “hold” rating and issued a $550.00 price target on shares of Humana in a research note on Friday, January 19th. Wells Fargo & Company lowered their target price on shares of Humana from $413.00 to $350.00 and set an “overweight” rating for the company in a research note on Monday, April 8th. Bank of America restated a “neutral” rating and set a $342.00 price objective (down from $470.00) on shares of Humana in a research note on Tuesday, April 2nd. The Goldman Sachs Group decreased their price objective 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. Finally, Mizuho cut their target price on shares of Humana from $550.00 to $400.00 and set a “buy” rating for the company in a report on Friday, January 26th. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $465.42.

Humana Price Performance

The firm has a market cap of $39.61 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 1.90 and a beta of 0.45. The stock’s fifty day moving average price is $330.40 and its 200-day moving average price is $400.99. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.59 and a quick ratio of 1.59.

Humana (NYSE:HUM) last released its earnings results on Thursday, January 25th. The insurance provider reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.87). The business had revenue of $26.46 billion for the quarter, compared to analysts’ expectations of $25.47 billion. Humana had a return on equity of 19.44% and a net margin of 2.34%. Humana’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.62 EPS. As a group, equities analysts expect that Humana Inc. will post 16.06 EPS for the current fiscal year.

Insider Activity

In other news, Director Jorge S. Mesquita purchased 545 shares of the stock in a transaction dated 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 transaction, the director now owns 2,578 shares in the company, valued at approximately $946,358.02. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Mariner LLC boosted its position in shares of Humana by 2.3% during the 3rd quarter. Mariner LLC now owns 14,119 shares of the insurance provider’s stock valued at $6,869,000 after acquiring an additional 312 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Humana by 27.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 27,943 shares of the insurance provider’s stock valued at $13,595,000 after buying an additional 6,034 shares during the last quarter. Silverarc Capital Management LLC acquired a new position in Humana in the third quarter valued at about $4,865,000. Vest Financial LLC lifted its position in Humana by 43.3% in the fourth quarter. Vest Financial LLC now owns 27,993 shares of the insurance provider’s stock valued at $12,815,000 after buying an additional 8,455 shares during the last quarter. Finally, Artemis Investment Management LLP lifted its position in Humana by 9.6% in the fourth quarter. Artemis Investment Management LLP now owns 64,573 shares of the insurance provider’s stock valued at $29,563,000 after buying an additional 5,672 shares during the last quarter. 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.