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INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation of Humana Inc. (HUM) on Behalf of Investors

Law Offices of Howard G. Smith announces an investigation on behalf of Humana Inc. (“Humana” or the “Company”) (NYSE: HUM) investors concerning the Company’s possible violations of federal securities laws.

On June 13, 2023, one of Humana’s primary competitors, UnitedHealth Group Inc. (“UnitedHealth”) revealed that it was seeing “higher levels” of outpatient care activity due, potentially, to “pent-up demand or delayed demand being satisfied.” On this news, Humana’s stock price fell $57.63, or 11.2%, to close at $455.00 per share on June 14, 2023, thereby injuring investors.

Then, on June 16, 2023, Humana confirmed that it was also experiencing “higher than anticipated non-inpatient utilization trends, predominately in the categories of emergency room, outpatient surgeries, and dental services, as well as inpatient trends that have been stronger than anticipated in recent weeks, diverging from historical seasonality patterns.” The Company further warned that it now expected reduced profitability and “assume[d] it will continue to experience moderately higher-than-expected trends for the remainder of the year.” On this news, Humana’s stock price fell $18.20, or 3.9%, to close at $445.65 per share on June 16, 2023.

Then, on January 18, 2024, Humana released its fourth quarter and full year 2023 preliminary financial results, revealing that its benefits expense ratio had increased to approximately 91.4% for the fourth quarter of 2023 and approximately 88% for the full year 2023. As a result, the Company’s 2023 adjusted EPS were more than $2 per share less than what the Company had previously predicted. On this news, Humana’s stock price fell $35.78, or 8%, to close at $411.98 per share on January 18, 2024.

Then, on January 25, 2024, Humana disclosed that it expected higher levels of medical costs for all of 2024, and, as a result, the Company expected 2024 adjusted EPS of $16 per share -- $10 less than the previous year and $13 below analysts’ expectations. On this news, Humana’s stock price fell $47.04, or 11.7%, to close at $355.36 per share on January 25, 2024, thereby injuring investors further.

If you purchased Humana securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847 or by email to, or visit our website at

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.


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