Humana Inc. - HUM STOCK NEWS

Humana Healthy Horizons, the Medicaid division of Humana Inc. (NYSE: HUM), has partnered with No Kid Hungry, committing $1.75 million to combat childhood hunger in America. The initiative aims to sustain healthier communities by providing grants to schools and organizations, along with food education and resources. Targeting seven states, including Florida and Texas, this program addresses immediate needs resulting from increased hunger rates due to the COVID-19 pandemic. Humana emphasizes its mission alignment with No Kid Hungry to significantly impact families in need.

The Humana Foundation has announced a $5.4 million investment in eight Southeastern U.S. communities to tackle social determinants of health, aiming for health equity. This funding is part of its Strategic Community Investment Program, which focuses on enhancing financial asset security, food security, and employment opportunities. Key projects include funding for Kingsley House in New Orleans and food initiatives in Baton Rouge and Tampa. These strategic investments will be evaluated over three years, potentially allowing for continued funding based on success.

AM Best has revised the outlooks for Humana Inc. (HUM) and its health subsidiaries to stable from positive while affirming the Financial Strength Rating (FSR) of A- and Long-Term Issuer Credit Ratings of 'a-'. This includes the Humana Health Group and Humana Health of Puerto Rico Group. The change reflects increased financial leverage following the planned acquisition of Kindred at Home for $5.7 billion. Although Humana's balance sheet remains strong, AM Best is concerned about the integration risk and the financial impact of this acquisition on the company's long-term leverage targets.

Humana (NYSE: HUM) announced that CFO Brian A. Kane will present at the BoA Securities Health Care Conference on May 11, 2021, at 11:45 a.m. ET. Investors can access a live audio webcast of the presentation on Humana’s Investor Relations page, with a recommendation to log in 15 minutes early for system checks. Humana is dedicated to promoting health for millions, with integrated care solutions aimed at lowering costs and improving quality of life for various groups, including Medicare beneficiaries and military personnel.

Humana Inc. reported first-quarter 2021 results showing significant growth, with consolidated pretax income reaching $1,040 million compared to $717 million in Q1 2020. Diluted EPS rose to $6.39 from $3.56 year-over-year. Adjusted pretax income was $1,255 million, a notable increase from $1,035 million. The company's revenues increased to $20,668 million from $18,935 million in Q1 2020. Humana revised its GAAP EPS guidance for FY 2021 to $19.62-$20.12, down from $20.82-$21.32 but maintained its adjusted EPS guidance at $21.25-$21.75.

Humana Inc. (NYSE: HUM) has entered into a definitive agreement to acquire the remaining 60% interest in Kindred at Home for an enterprise value of $8.1 billion. This includes Humana's existing $2.4 billion equity stake from its 40% ownership. Kindred at Home, the largest home health and hospice provider in the U.S., employs around 43,000 caregivers servicing over 550,000 patients annually. The acquisition aims to enhance Humana's home-based care models and streamline the delivery of personalized care, with expectations to close in Q3 2021, pending regulatory approvals.

Humana Inc. (NYSE: HUM) has declared a cash dividend of $0.70 per share, payable on July 30, 2021, to stockholders of record as of June 30, 2021. This move underscores the company's commitment to delivering value to its shareholders while continuing to prioritize integrated health care solutions for its members. Humana aims to enhance care delivery through various services, including in-home care and data analytics, enhancing health outcomes and sustainability.

Humana Inc. (NYSE: HUM) has been selected by the Ohio Department of Medicaid to provide health care coverage to Medicaid beneficiaries in Ohio starting early 2022. This initiative aims to improve health outcomes through a holistic, value-based approach. Humana has a longstanding commitment to Ohio, serving over 566,000 residents via various health plans. The service contract will commence with an initial two-year term and may include renewal options. Humana Healthy Horizons, launched in 2020, continues to enhance care for complex populations by integrating diverse health services.

Humana Inc. (NYSE: HUM) will announce its 1Q21 financial results on April 28, 2021, at 6:30 a.m. Eastern time. A conference call will follow at 9:00 a.m. to discuss results and 2021 earnings guidance. Interested parties can join by dialing 888-625-7430 or via webcast on Humana's Investor Relations page. The earnings release will include non-GAAP financial measures alongside GAAP reconciliations. A replay of the call will be available after the event, and the company emphasizes its commitment to integrated healthcare solutions for its members.