Market News

Humana Ramps Up Dividend By 12%; Street Sees 26% Upside

Humana announced a 12% hike in its quarterly dividend to $0.70 per share from $0.63. Further, Jorge S. Mesquita and Marcy S. Klevorn were elected as members of its board of directors.

Humana (HUM) said that the new quarterly dividend will be paid on Apr. 30 to shareholders of record as of Mar. 31. Its annual dividend of $2.80 per share now reflects a dividend yield of 0.7%.

Earlier this month, the health insurance company reported better-than-expected 4Q results. Its revenues jumped 17% year-over-year and stood at $19.1 million, beating the Street’s estimates of $18.8 million. Humana reported a 4Q loss of $2.30 per share. Analysts were expecting a loss of $2.36 per share. (See Humana stock analysis on TipRanks)

Following the results, Oppenheimer analyst Michael Wiederhorn maintained a price target of $460 (21.6% upside potential) and maintained a Buy rating. In a note to investors, the analyst said, “the results and guidance were as expected.” He added, “HUM remains well-positioned for 2021.”

Overall, the Street has a bullish outlook on the stock, with a Strong Buy consensus rating based on 7 Buys and 1 Hold. The average analyst price target of $474.88 implies upside potential of about 25.5% to current levels.

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