(October 31, 2011) Shares of Humana Inc. (NYSE: HUM), a Louisville, Kentucky-based company, are soaring in trading today. At last check, the Humana stock was trading 6.65% higher at $85.69 on above average volume of 3.05 million.
Humana shares are soaring in trading today after the company announced its third-quarter financial results. For the third quarter of 2011, Humana reported consolidated revenue of $9.30 billion, representing an increase of 11% over the same period in the previous year. The company’s total premium and services revenue also rose 11% in the third quarter of 2011. The year-over-year increase in premium and services revenue was mainly due to an increase in revenue in the company’s Retail and Health and Well-Being Services segments.
Humana’s Retail segment reported pre-tax income of $541.4 million for the third quarter of 2011, compared with $447.9 million reported for the same period in the previous year. The company’s Employer Group segment reported pre-tax income of $45.9 million, while the Health and Well-Being Services segment reported pre-tax income of $83.6 million.
Humana reported third-quarter diluted earnings per share of $2.67, compared with $2.32 reported for the same period in the previous year. The company also raised its full-year earnings per share guidance to $8.35-$8.40. For the 2012, the company expects earnings per share of $7.40-$7.60.
Michael B. McCallister, Chairman and CEO of Humana, said that the company’s favorable results in the third quarter and year-to-date reflect strong operating performance across multiple businesses.
About Humana Inc.: Humana Inc. is a provider of full-service benefits and wellness solutions. The company offers a range of health, pharmacy and supplemental benefit products for employer groups, Government benefit programs and individuals.
- The Humana stock has a 52-week range of $54.24-$86.70.
- The stock trades on a daily average volume of 1.95 million.
- The stock is currently trading above its 50-day and 200-day moving averages, which is a bullish signal.
- The stock’s MACD has crossed the signal line on the upside and is also above the zero-line, which are strong bullish signals.
Humana reported its third-quarter financial results and also raised its full-earnings guidance. The company’s shares are soaring following the announcement.