Royal Bank of Canada Raises Humana (NYSE:HUM) Price Target to $400.00

Humana (NYSE:HUM) had its price target lifted by Royal Bank of Canada from $385.00 to $400.00 in a research note released on Thursday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the insurance provider’s stock.

Several other research analysts have also recently issued reports on HUM. Baird R W raised shares of Humana to a hold rating in a report on Thursday, May 30th. Piper Sandler assumed coverage on shares of Humana in a report on Wednesday, June 26th. They issued an overweight rating and a $392.00 target price for the company. Truist Financial lifted their price target on shares of Humana from $355.00 to $400.00 and gave the stock a hold rating in a research note on Monday, July 15th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Humana from $341.00 to $349.00 and gave the stock a hold rating in a research note on Friday, August 2nd. Finally, Cantor Fitzgerald reiterated a neutral rating and issued a $395.00 price target on shares of Humana in a research note on Monday, August 19th. Thirteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Humana presently has an average rating of Hold and an average price target of $398.70.

Humana Trading Down 2.0 %

Shares of NYSE HUM opened at $357.86 on Thursday. Humana has a 1 year low of $298.61 and a 1 year high of $530.54. The stock has a market cap of $43.12 billion, a P/E ratio of 22.28, a price-to-earnings-growth ratio of 3.16 and a beta of 0.51. The firm has a 50-day moving average of $367.68 and a 200 day moving average of $347.40. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.66 and a quick ratio of 1.66.

Humana (NYSE:HUM) last issued its earnings results on Wednesday, July 31st. The insurance provider reported $6.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.89 by $1.07. The business had revenue of $29.54 billion during the quarter, compared to analysts’ expectations of $28.52 billion. Humana had a net margin of 1.53% and a return on equity of 16.12%. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the company earned $8.94 earnings per share. As a group, sell-side analysts expect that Humana will post 16.14 EPS for the current fiscal year.

Humana Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.885 per share. This represents a $3.54 annualized dividend and a yield of 0.99%. The ex-dividend date is Monday, September 30th. Humana’s dividend payout ratio is currently 22.04%.

Hedge Funds Weigh In On Humana

Several large investors have recently added to or reduced their stakes in HUM. Pzena Investment Management LLC lifted its holdings in Humana by 538.7% during the second quarter. Pzena Investment Management LLC now owns 2,318,347 shares of the insurance provider’s stock valued at $866,250,000 after purchasing an additional 1,955,375 shares in the last quarter. Norges Bank purchased a new position in Humana during the fourth quarter valued at approximately $676,800,000. Sanders Capital LLC purchased a new position in Humana during the fourth quarter valued at approximately $489,300,000. Ontario Teachers Pension Plan Board lifted its holdings in Humana by 11,647.2% during the first quarter. Ontario Teachers Pension Plan Board now owns 1,059,478 shares of the insurance provider’s stock valued at $367,342,000 after purchasing an additional 1,050,459 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in Humana by 118.9% during the second quarter. Marshall Wace LLP now owns 1,425,302 shares of the insurance provider’s stock valued at $532,564,000 after purchasing an additional 774,085 shares in the last quarter. Hedge funds and other institutional investors 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.