Third Point LLC trimmed its stake in Humana Inc. (NYSE:HUM) by 47.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 750,000 shares of the insurance provider’s stock after selling 675,000 shares during the quarter. Humana accounts for 1.6% of Third Point LLC’s portfolio, making the stock its 20th largest position. Third Point LLC owned about 0.52% of Humana worth $180,465,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Guardian Life Insurance Co. of America lifted its position in shares of Humana by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 575 shares of the insurance provider’s stock worth $119,000 after purchasing an additional 4 shares in the last quarter. Reliance Trust Co. of Delaware lifted its position in shares of Humana by 0.7% in the second quarter. Reliance Trust Co. of Delaware now owns 1,123 shares of the insurance provider’s stock worth $270,000 after purchasing an additional 8 shares in the last quarter. Creative Planning lifted its position in shares of Humana by 0.3% in the second quarter. Creative Planning now owns 4,874 shares of the insurance provider’s stock worth $1,173,000 after purchasing an additional 15 shares in the last quarter. Cadence Capital Management LLC lifted its position in shares of Humana by 0.4% in the second quarter. Cadence Capital Management LLC now owns 5,682 shares of the insurance provider’s stock worth $1,367,000 after purchasing an additional 22 shares in the last quarter. Finally, Sit Investment Associates Inc. lifted its position in shares of Humana by 0.3% in the second quarter. Sit Investment Associates Inc. now owns 12,020 shares of the insurance provider’s stock worth $2,892,000 after purchasing an additional 40 shares in the last quarter. 95.12% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently issued reports on the stock. ValuEngine raised shares of Humana from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. UBS AG reissued a “neutral” rating and issued a $250.00 price target (up from $237.00) on shares of Humana in a research report on Wednesday, August 9th. BidaskClub raised shares of Humana from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. Cantor Fitzgerald reissued a “neutral” rating and issued a $223.00 price target (up from $200.00) on shares of Humana in a research report on Thursday, August 3rd. Finally, Morgan Stanley increased their price target on shares of Humana from $269.00 to $276.00 and gave the stock an “overweight” rating in a research report on Thursday, August 17th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $246.60.
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In other news, VP Timothy S. Huval sold 7,803 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $258.14, for a total transaction of $2,014,266.42. Following the sale, the vice president now owns 8,831 shares in the company, valued at approximately $2,279,634.34. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider William Kevin Fleming sold 3,071 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $250.98, for a total value of $770,759.58. Following the sale, the insider now owns 7,681 shares in the company, valued at approximately $1,927,777.38. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,566 shares of company stock worth $15,326,746. Company insiders own 0.80% of the company’s stock.
Humana (NYSE:HUM) last announced its quarterly earnings data on Wednesday, August 2nd. The insurance provider reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.08 by $0.41. Humana had a return on equity of 15.85% and a net margin of 3.37%. The company had revenue of $13.53 billion for the quarter, compared to analysts’ expectations of $13.61 billion. During the same quarter in the prior year, the business posted $2.30 EPS.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Tuesday, August 29th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend is Thursday, September 28th. Humana’s dividend payout ratio is currently 13.06%.
Humana Inc is a health and well-being company. The Company’s segments include Retail, Group and Specialty, Healthcare Services and Individual Commercial. The Retail segment consists of Medicare benefits, as well as individual commercial fully insured medical and specialty health insurance benefits, including dental, vision, and other supplemental health and financial protection products.
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