Should You Invest in Humana (HUM)?

Diamond Hill Capital, an investment management company, released its “Large Cap Concentrated Strategy” third-quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy returned -3.08% net of fees compared to a -4.61% return for the Russell 1000 Index. Holdings in the energy and technology sectors contributed to the fund’s performance, while investments in the healthcare and financial sectors underperformed in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Diamond Hill highlighted stocks like Humana Inc. (NYSE:HUM) in the third quarter 2022 investor letter. Headquartered in Louisville, Kentucky, Humana Inc. (NYSE:HUM) is an American health and well-being company. On November 15, 2022, Humana Inc. (NYSE:HUM) stock closed at $512.90 per share. One-month return of Humana Inc. (NYSE:HUM) was 2.24%, and its shares gained 15.48% of their value over the last 52 weeks. Humana Inc. (NYSE:HUM) has a market capitalization of $64.933 billion.

Diamond Hill made the following comment about Humana Inc. (NYSE:HUM) in its Q3 2022 investor letter:

“Humana Inc. (NYSE:HUM) has held up well amid volatile markets given the characteristics of the Medicare Advantage market and expectations that it can return to market growth in the 2023 annual enrollment period. We are confident in Humana’s value creation plan and ability to get back to market enrollment growth in addition to an increasing contribution from its health care services businesses. Shares of Texas Instruments outperformed as the COVID lockdowns eased in China, and customers could accept the product shipments leading to an upside in expectations.”

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Humana Inc. (NYSE:HUM) is not on our list of 30 Most Popular Stocks Among Hedge Funds.  As per our database, 69 hedge fund portfolios held Humana Inc. (NYSE:HUM)  at the end of the second quarter, which was 66 in the previous quarter.

We discussed Humana Inc. (NYSE:HUM) in another article and shared the best stocks to buy according to Jonathan Bloomberg’s BloombergSen. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.