Panagora Asset Management Inc. trimmed its stake in Humana Inc. (NYSE:HUM) by 53.0% in the third quarter, HoldingsChannel.com reports. The firm owned 127,716 shares of the insurance provider’s stock after selling 143,863 shares during the period. Panagora Asset Management Inc.’s holdings in Humana were worth $49,701,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of HUM. Sugarloaf Wealth Management LLC grew its holdings in Humana by 346.7% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 67 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 52 shares during the period. Canton Hathaway LLC bought a new position in Humana in the 3rd quarter valued at about $52,000. Allworth Financial LP lifted its position in Humana by 411.5% in the 3rd quarter. Allworth Financial LP now owns 133 shares of the insurance provider’s stock valued at $52,000 after acquiring an additional 107 shares in the last quarter. Herold Advisors Inc. bought a new position in shares of Humana during the 3rd quarter worth approximately $54,000. Finally, Moors & Cabot Inc. increased its stake in shares of Humana by 4,267.6% during the 3rd quarter. Moors & Cabot Inc. now owns 62,500 shares of the insurance provider’s stock worth $57,000 after purchasing an additional 61,069 shares during the last quarter. Hedge funds and other institutional investors own 91.96% of the company’s stock.
In other Humana news, CEO Bruce D. Broussard sold 50,006 shares of the stock in a transaction that occurred on Friday, November 5th. The shares were sold at an average price of $454.70, for a total value of $22,737,728.20. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.40% of the stock is owned by company insiders.
Humana (NYSE:HUM) last posted its earnings results on Wednesday, November 3rd. The insurance provider reported $4.83 EPS for the quarter, beating the Zacks’ consensus estimate of $4.61 by $0.22. The company had revenue of $20.70 billion for the quarter, compared to analysts’ expectations of $20.91 billion. Humana had a net margin of 3.30% and a return on equity of 14.95%. Humana’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.08 earnings per share. On average, equities analysts predict that Humana Inc. will post 20.5 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 28th. Investors of record on Friday, December 31st will be issued a $0.70 dividend. The ex-dividend date of this dividend is Thursday, December 30th. This represents a $2.80 annualized dividend and a yield of 0.71%. Humana’s dividend payout ratio (DPR) is 13.52%.
Several research analysts have commented on the stock. Credit Suisse Group raised their price target on shares of Humana from $500.00 to $513.00 and gave the company an “outperform” rating in a report on Thursday, November 4th. Truist Securities boosted their price target on shares of Humana from $500.00 to $520.00 and gave the stock a “hold” rating in a research note on Wednesday, January 5th. UBS Group restated a “hold” rating and issued a $486.00 price objective on shares of Humana in a research report on Friday, January 7th. Royal Bank of Canada boosted their price target on shares of Humana from $479.00 to $525.00 and gave the company an “outperform” rating in a research report on Thursday, November 4th. Finally, Sanford C. Bernstein reduced their price target on shares of Humana from $470.00 to $431.00 in a research report on Tuesday. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $486.21.
Humana Inc engages in the provision of health insurance services. The firm operates through the following segments: Retail, Group and Specialty and Healthcare Services. The Retail segment consists of products sold on a retail basis to individuals including medical and supplemental benefit plans such as Medicare, and State-based Medicaid contracts.
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