Newbridge Financial Services Group Inc. Increases Holdings in Humana Inc. (NYSE:HUM)

Posted by Defense World Staff on Mar 25th, 2023

Newbridge Financial Services Group Inc. raised its stake in shares of Humana Inc. (NYSE:HUM – Get Rating) by 68.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 125 shares of the insurance provider’s stock after buying an additional 51 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Humana were worth $64,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of HUM. Insight Inv LLC purchased a new stake in Humana in the second quarter worth about $47,000. Ronald Blue Trust Inc. bought a new position in Humana during the second quarter valued at approximately $49,000. Accurate Wealth Management LLC bought a new position in Humana during the fourth quarter valued at approximately $55,000. Massmutual Trust Co. FSB ADV boosted its stake in Humana by 44.2% during the third quarter. Massmutual Trust Co. FSB ADV now owns 124 shares of the insurance provider’s stock valued at $60,000 after buying an additional 38 shares during the last quarter. Finally, CoreCap Advisors LLC bought a new stake in shares of Humana in the 2nd quarter valued at approximately $59,000. 93.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Humana

In related news, CEO Bruce D. Broussard sold 17,575 shares of the company’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $505.85, for a total value of $8,890,313.75. Following the transaction, the chief executive officer now directly owns 70,040 shares in the company, valued at $35,429,734. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Joseph C. Ventura sold 2,048 shares of the company’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $507.97, for a total transaction of $1,040,322.56. Following the sale, the insider now owns 4,256 shares of the company’s stock, valued at $2,161,920.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Bruce D. Broussard sold 17,575 shares of the company’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $505.85, for a total value of $8,890,313.75. Following the sale, the chief executive officer now directly owns 70,040 shares in the company, valued at approximately $35,429,734. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.

Humana Price Performance

Shares of Humana stock opened at $502.43 on Friday. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.59. Humana Inc. has a twelve month low of $410.87 and a twelve month high of $571.30. The business has a 50-day moving average price of $495.69 and a 200 day moving average price of $507.83. The firm has a market cap of $62.79 billion, a PE ratio of 22.80, a P/E/G ratio of 1.25 and a beta of 0.72.

Humana (NYSE:HUM – Get Rating) last posted its quarterly earnings data on Wednesday, February 1st. The insurance provider reported $1.62 EPS for the quarter, topping the consensus estimate of $1.46 by $0.16. Humana had a return on equity of 20.50% and a net margin of 3.02%. The company had revenue of $22.44 billion during the quarter, compared to analyst estimates of $22.45 billion. During the same period in the previous year, the business earned $1.24 EPS. Humana’s quarterly revenue was up 6.6% on a year-over-year basis. Sell-side analysts predict that Humana Inc. will post 28.05 earnings per share for the current fiscal year.

Humana Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Friday, March 31st will be issued a dividend of $0.885 per share. This is a boost from Humana’s previous quarterly dividend of $0.79. This represents a $3.54 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Thursday, March 30th. Humana’s payout ratio is currently 14.29%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Cowen lowered their price objective on Humana from $647.00 to $581.00 and set an “outperform” rating for the company in a research note on Monday, February 6th. StockNews.com upgraded Humana from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 15th. TheStreet cut Humana from a “b” rating to a “c+” rating in a research report on Wednesday, February 1st. Stephens lowered their price objective on Humana from $625.00 to $590.00 and set an “overweight” rating for the company in a research report on Friday, February 3rd. Finally, Truist Financial lowered their price target on Humana from $580.00 to $560.00 and set a “hold” rating for the company in a research report on Tuesday, February 7th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $594.12.

Humana Company Profile

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Humana Inc engages in the provision of health insurance services. It operates through the Insurance and CenterWell segments. The Insurance segment consists of Medicare benefits, marketed to individuals or directly via group Medicare accounts, as well as contract with CMS to administer the Limited Income Newly Eligible Transition, or LI-NET, prescription drug plan program and contracts with various states to provide Medicaid, dual eligible demonstration, and Long-Term Support Services benefits, which refer to as state-based contracts.