Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Portfolio > Asset Managers

Humana Shifts Cash Into Investments

By Staff Writer

X
Your article was successfully shared with the contacts you provided.

NU Online News Service, April 26, 2004, 12:36 p.m. EDT – Humana Inc., Louisville, Ky., is being a little less cautious with its assets.[@@]

The managed care company is reporting $67.8 million in net income for the quarter on $3.3 billion in revenue, up from $31.2 million in net income on $2.9 billion in revenue for the first quarter of 2003.

The company ended the quarter providing or administering coverage for 7 million people, up from 6.6 million people a year earlier. Average commercial premium revenue per insured commercial customer increased 7.5%, to $704.

The balance sheet section of Humana’s latest earnings release shows that the company’s portfolio managers liked cash in early 2003.

The company had $931.4 million in cash and cash equivalents at the end of the first quarter of 2003 and only $1.7 billion in investment securities.

By the end of the latest quarter, Humana’s portfolio managers had cut the amount of cash on hand to $417.6 million and increased the amount of assets in investment securities to $2.1 billion.

Humana’s cash flow statement shows that the company sold only $786.9 million in investment securities during the first quarter, down from $1.3 billion during the first quarter of 2003.

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.