Top health insurance company Humana (NYSE: HUM) wasn't necessarily tops with investors on Wednesday. After reporting its latest set of quarterly figures, the company's share price bumped slightly higher, by 0.3%, which wasn't high enough to beat the S&P 500 index's more than 1% increase. It's not that Humana's results for the fourth quarter 2022 were bad or uninspiring; it's just that they didn't excel.
Humana's (HUM) fourth-quarter results benefit from solid premiums from its individual Medicare Advantage business and the sound performance of the two newly formed segments.
(Reuters) -Humana Inc on Wednesday beat Wall Street estimates for quarterly profit as the health insurer's investment income jumped, even as the company reported higher-than-expected medical costs. Humana's fourth-quarter benefit expense ratio, or the percentage of payout on claims compared to its premiums, fell by 1 percentage point to 87.5%, but was higher than analysts' estimate of 87.20%. Health insurers' costs were expected to decline on lower COVID-19-related hospitalizations, though there were concerns around a surge in flu and respiratory syncytial virus cases in the last quarter of 2022.