AE Wealth Management LLC Grows Position in Humana Inc. (NYSE:HUM)

AE Wealth Management LLC grew its position in shares of Humana Inc. (NYSE:HUM) by 286.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,507 shares of the insurance provider’s stock after acquiring an additional 2,599 shares during the quarter. AE Wealth Management LLC’s holdings in Humana were worth $1,310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Simplify Asset Management Inc. purchased a new stake in shares of Humana during the 2nd quarter valued at $2,163,000. Hollencrest Capital Management purchased a new position in Humana in the second quarter valued at about $40,000. Benjamin F. Edwards & Company Inc. lifted its stake in Humana by 10.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,763 shares of the insurance provider’s stock valued at $659,000 after purchasing an additional 172 shares during the last quarter. Ieq Capital LLC grew its holdings in Humana by 75.4% during the second quarter. Ieq Capital LLC now owns 6,553 shares of the insurance provider’s stock valued at $2,448,000 after purchasing an additional 2,817 shares during the period. Finally, Hsbc Holdings PLC increased its position in Humana by 17.9% in the second quarter. Hsbc Holdings PLC now owns 435,018 shares of the insurance provider’s stock worth $163,093,000 after buying an additional 65,936 shares during the last quarter. Institutional investors own 92.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on HUM. Baird R W upgraded shares of Humana to a “hold” rating in a research note on Thursday, May 30th. Robert W. Baird started coverage on shares of Humana in a research report on Thursday, May 30th. They issued a “neutral” rating and a $374.00 price objective for the company. Royal Bank of Canada upped their target price on shares of Humana from $385.00 to $400.00 and gave the stock an “outperform” rating in a report on Thursday, September 5th. Truist Financial boosted their price target on shares of Humana from $355.00 to $400.00 and gave the company a “hold” rating in a research report on Monday, July 15th. Finally, Piper Sandler assumed coverage on shares of Humana in a report on Wednesday, June 26th. They issued an “overweight” rating and a $392.00 price target on the stock. Thirteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $398.70.

Humana Stock Performance

NYSE HUM opened at $312.29 on Wednesday. The company has a 50-day simple moving average of $354.61 and a two-hundred day simple moving average of $345.12. Humana Inc. has a 12-month low of $298.61 and a 12-month high of $530.54. The firm has a market cap of $37.63 billion, a price-to-earnings ratio of 19.45, a PEG ratio of 2.56 and a beta of 0.50. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.70.

Humana (NYSE:HUM) last posted its quarterly 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. 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 analyst estimates of $28.52 billion. During the same period last year, the company earned $8.94 EPS. Humana’s revenue for the quarter was up 10.4% compared to the same quarter last year. On average, equities analysts forecast that Humana Inc. will post 16 EPS for the current year.

Humana Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Monday, September 30th will be issued a dividend of $0.885 per share. The ex-dividend date is Monday, September 30th. This represents a $3.54 dividend on an annualized basis and a yield of 1.13%. Humana’s dividend payout ratio is currently 22.04%.

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.