Humana Inc. (NYSE:HUM) Sees Large Increase in Short Interest

Humana Inc. (NYSE:HUM) was the recipient of a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 2,240,000 shares, an increase of 6.2% from the August 31st total of 2,110,000 shares. Based on an average daily volume of 1,280,000 shares, the days-to-cover ratio is presently 1.8 days. Currently, 1.9% of the shares of the company are sold short.

Institutional Trading of Humana

Several hedge funds have recently modified their holdings of HUM. CarsonAllaria Wealth Management Ltd. lifted its holdings in Humana by 111.4% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 74 shares of the insurance provider’s stock worth $28,000 after buying an additional 39 shares in the last quarter. Hantz Financial Services Inc. bought a new position in Humana in the second quarter valued at about $35,000. Family Firm Inc. acquired a new stake in Humana in the second quarter worth about $37,000. Hollencrest Capital Management bought a new stake in Humana during the 2nd quarter worth about $40,000. Finally, Riverview Trust Co acquired a new position in Humana during the 2nd quarter valued at about $44,000. 92.38% of the stock is owned by institutional investors.

Humana Price Performance

Shares of NYSE:HUM traded down $37.32 during trading on Tuesday, reaching $279.42. The stock had a trading volume of 7,032,777 shares, compared to its average volume of 1,658,002. The stock has a market capitalization of $33.67 billion, a PE ratio of 18.15, a P/E/G ratio of 2.44 and a beta of 0.50. 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 has a 52 week low of $276.80 and a 52 week high of $530.54. The business’s 50-day moving average price is $348.57 and its 200 day moving average price is $344.23.

Humana (NYSE:HUM) last issued its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $6.96 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $29.54 billion during the quarter, compared to the consensus estimate of $28.52 billion. During the same quarter in the previous year, the company posted $8.94 EPS. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. As a group, equities analysts predict that Humana will post 16.01 earnings per share for the current year.

Humana Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, September 30th will be paid a $0.885 dividend. This represents a $3.54 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Monday, September 30th. Humana’s dividend payout ratio is presently 22.04%.

Analysts Set New Price Targets

Several research analysts have commented on HUM shares. TD Cowen lifted their price target on Humana from $396.00 to $407.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. upped their target price on shares of Humana from $332.00 to $396.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Morgan Stanley assumed coverage on shares of Humana in a research report on Monday, June 24th. They issued an “equal weight” rating and a $374.00 price target on the stock. Cantor Fitzgerald restated a “neutral” rating and set a $395.00 price objective on shares of Humana in a report on Tuesday. Finally, Truist Financial increased their target price on shares of Humana from $355.00 to $400.00 and gave the company a “hold” rating in a research note on Monday, July 15th. Thirteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Humana presently has an average rating of “Hold” and a consensus target price of $398.70.

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.