Summit Global Investments Lowers Position in Humana Inc. (NYSE:HUM)

Summit Global Investments lessened its stake in Humana Inc. (NYSE:HUM) by 0.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,673 shares of the insurance provider’s stock after selling 165 shares during the quarter. Summit Global Investments’ holdings in Humana were worth $9,006,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Ameriprise Financial Inc. increased its position in Humana by 35.9% in the third quarter. Ameriprise Financial Inc. now owns 1,523,835 shares of the insurance provider’s stock worth $741,409,000 after purchasing an additional 402,559 shares during the last quarter. AQR Capital Management LLC increased its position in Humana by 39.3% in the third quarter. AQR Capital Management LLC now owns 681,868 shares of the insurance provider’s stock worth $331,743,000 after purchasing an additional 192,546 shares during the last quarter. Quadrature Capital Ltd increased its position in Humana by 814.5% during the third quarter. Quadrature Capital Ltd now owns 181,787 shares of the insurance provider’s stock valued at $88,448,000 after acquiring an additional 161,909 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its stake in shares of Humana by 2,659.2% in the third quarter. Adage Capital Partners GP L.L.C. now owns 152,860 shares of the insurance provider’s stock valued at $74,369,000 after acquiring an additional 147,320 shares during the period. Finally, International Assets Investment Management LLC raised its stake in shares of Humana by 32,648.4% in the fourth quarter. International Assets Investment Management LLC now owns 134,596 shares of the insurance provider’s stock valued at $61,619,000 after acquiring an additional 134,185 shares during the period. Hedge funds and other institutional investors own 92.38% of the company’s stock.

Insider Activity

In related news, Director Jorge S. Mesquita acquired 545 shares of Humana stock in a transaction that occurred on Tuesday, February 20th. The shares were purchased at an average cost of $367.09 per share, for a total transaction of $200,064.05. Following the acquisition, the director now owns 2,578 shares in the company, valued at $946,358.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on HUM. Bank of America reaffirmed a “neutral” rating and issued a $342.00 price target (down previously from $470.00) on shares of Humana in a research note on Tuesday, April 2nd. Jefferies Financial Group reduced their price target on shares of Humana from $411.00 to $381.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Barclays reduced their price target on shares of Humana from $356.00 to $310.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 2nd. Cantor Fitzgerald reduced their price target on shares of Humana from $391.00 to $360.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Finally, Raymond James began coverage on shares of Humana in a research note on Friday, March 22nd. They issued a “market perform” rating on the stock. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $424.50.

Humana Price Performance

Humana stock traded up $5.84 during trading on Thursday, reaching $320.05. The company had a trading volume of 1,145,215 shares, compared to its average volume of 1,987,243. The firm’s 50-day simple moving average is $325.28 and its 200 day simple moving average is $390.72. Humana Inc. has a 1-year low of $298.61 and a 1-year high of $541.21. The firm has a market capitalization of $38.57 billion, a PE ratio of 19.94, a price-to-earnings-growth ratio of 1.76 and a beta of 0.50. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.67 and a current ratio of 1.67.

Humana (NYSE:HUM) last released its quarterly earnings results on Wednesday, April 24th. The insurance provider reported $7.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.12 by $1.11. Humana had a net margin of 1.82% and a return on equity of 17.76%. The firm had revenue of $29.61 billion for the quarter, compared to analysts’ expectations of $28.52 billion. During the same quarter last year, the company earned $9.38 EPS. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Humana Inc. will post 16.18 earnings per share for the current fiscal year.

Humana Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, June 28th will be given a dividend of $0.885 per share. The ex-dividend date is Friday, June 28th. This represents a $3.54 annualized dividend and a dividend yield of 1.11%. Humana’s payout ratio is 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.