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UNITEDHEALTH GROUP

(UNH)
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Humana profit rises on growth in retail, employer units

07/31/2013 | 07:13am EDT

(Reuters) - Health insurer Humana Inc (>> Humana Inc) said on Wednesday that its second-quarter profit rose 18 percent, helped by growth in both its direct-to-customer division and the unit that markets plans to employers.

(Reuters) - Health insurer Humana Inc (>> Humana Inc) said on Wednesday that its second-quarter profit rose 18 percent, helped by growth in both its direct-to-customer division and the unit that markets plans to employers.

The company, which specializes in private Medicare plans for the elderly, reported net income of $420 million, or $2.63 per share, up from $356 million, or $2.16 per share, a year earlier.

Excluding 12 cents a share in costs of exiting a Puerto Rico Medicaid business for the poor, analysts were expecting earnings of $2.47, according to Thomson Reuters I/B/E/S.

Humana is the fourth major insurer to report second-quarter earnings that beat Wall Street estimates. UnitedHealth Group Inc (>> UnitedHealth Group Inc.), WellPoint Inc (>> WellPoint, Inc.) and Aetna Inc (>> Aetna Inc) have all said their profits had benefited from reduced use of medical services by customers.

Revenue rose to $9.7 billion from $9.2 billion, below analysts' expectations of $10.3 billion.

Private Medicare, known as Medicare Advantage, accounts for about two-thirds of Humana's revenue.

The company raised its full-year earnings forecast to a range of $8.65 to $8.75 per share to reflect the second-quarter results. Analysts were expecting $8.68 per share.

Humana said it had spent 83.4 percent of premiums it took in on medical benefits, down from 83.5 percent a year earlier. It had 12.37 million medical members at the end of the quarter, and another 8.27 million people were in dental, vision and other supplemental benefit plans.

(Reporting by Caroline Humer; Editing by Lisa Von Ahn)

Stocks treated in this article : Aetna Inc, WellPoint, Inc., Humana Inc, UnitedHealth Group Inc.

ę Reuters 2013
Stocks mentioned in the article
ChangeLast1st jan.
HUMANA INC. 0.04% 467.5 Delayed Quote.14.86%
UNITEDHEALTH GROUP 0.38% 415.1 Delayed Quote.19.11%
VISION INC. 2.54% 1130 End-of-day quote.9.07%
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Financials (USD)
Sales 2021 283 B - -
Net income 2021 16 935 M - -
Net Debt 2021 16 851 M - -
P/E ratio 2021 23,3x
Yield 2021 1,25%
Capitalization 390 B 390 B -
EV / Sales 2021 1,44x
EV / Sales 2022 1,34x
Nbr of Employees 330 000
Free-Float 99,4%
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Mean consensus BUY
Number of Analysts 28
Last Close Price 413,54 $
Average target price 454,79 $
Spread / Average Target 9,98%
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Managers and Directors
Andrew Philip Witty Chief Executive Officer & Director
Dirk C. McMahon President & Chief Operating Officer
John Franklin Rex Chief Financial Officer & Executive Vice President
Stephen J. Hemsley Chairman
Richard J. Migliori Chief Medical Officer & EVP-Medical Affairs
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