Welcome to our dedicated page for HUMANA SEC filings (Ticker: HUM), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Humana Inc. filings document formal disclosures for a public healthcare company with Humana insurance services and CenterWell healthcare services. Recent 8-K reports cover quarterly results, GAAP and non-GAAP earnings measures, Insurance segment benefit ratio commentary, Medicare Advantage membership assumptions, Regulation FD communications, and guidance updates.
Humana's SEC records also include proxy and annual-meeting materials covering director elections, auditor ratification, stockholder voting results, board composition, and director compensation program disclosures; board and executive transition disclosures; and capital-structure filings for registered debt offerings, including junior subordinated notes described through Form S-3 and prospectus-supplement materials.
Humana Inc. reaffirmed its full-year 2025 earnings guidance of approximately $13.77 diluted GAAP EPS and $17.00 adjusted EPS. Management explained that Adjusted EPS is a non-GAAP measure used to present core operating performance alongside GAAP EPS and that a reconciliation is provided in the filing.
The company said it is not satisfied with 2026 Medicare Advantage (MA) Star Ratings but reported tactical operational improvements during the final months of the 2026 measurement period and a strategic, data-driven shift in its Stars program. Humana expects a return to Top Quartile MA Star Ratings for 2027 after incorporating updated thresholds into forecasts and executing a MA contract diversification strategy that it says will materially raise the share of members in contracts rated four stars and above versus the current ~20% level. The company also remains confident in its 2026 Individual MA pricing and benefit design and expects to double individual MA pre-tax margin in 2026 (excluding Stars) and to return to membership growth in 2026.
Kurt J. Hilzinger, a director of Humana Inc. (HUM), reported changes in beneficial ownership on Form 4. The filing shows previously held Humana common shares and restricted stock units (RSUs) that are deferred and payable 1-for-1 in common stock upon his resignation as a director. The report records 24,034 RSUs and 2,753 deferred dividend stock units previously held, and a transaction on 09/30/2025 acquiring 364 RSUs at a price of $257.7925, resulting in 15,408 shares reported as beneficially owned following the transaction. Explanations state these RSUs arise from annual director fees, dividend reinvestment, and an elected conversion of cash fees into stock units, all deferred under the company plan and claimed exempt under Rule 16(b)-3.
Gordon Smith, a director of Humana Inc. (HUM), reported changes in his holdings of Humana restricted stock units and common stock rights. The Form 4 discloses transactions dated 09/30/2025: 124 restricted stock units were acquired at a reported unit value of $257.7925, representing a right to receive one share per unit. The filing also shows a disposition of 765 restricted stock units and reports 783 restricted stock units held that represent deferred annual director fees and contingent rights to receive one share per unit under the company’s 2019 Amended & Restated Stock Incentive Plan.
The filing explains that some stock units arise from annual director fees deferred by election and from conversion of cash fees into stock units; all such units are payable one-for-one in Humana common stock when paid and some are exempt under Rule 16b-3.
Humana Inc. filed an update stating that senior management will meet with investors and analysts between September 1 and September 30, 2025, and intends to reaffirm its full-year 2025 guidance. The company continues to project approximately $13.77 in diluted earnings per common share (GAAP EPS) and approximately $17.00 in adjusted earnings per common share (Adjusted EPS) for the year ending December 31, 2025, consistent with guidance issued on July 30, 2025.
Humana explains that Adjusted EPS is a non-GAAP measure used alongside GAAP EPS to evaluate core operating performance and for planning and incentive compensation. For FY 2025, projected GAAP EPS of approximately $13.77 is adjusted by items such as $0.49 of amortization of identifiable intangibles, $3.01 of put/call valuation adjustments on certain minority interest investments, $0.44 related to value creation initiatives, $0.26 of impairment charges, and a cumulative net tax impact of $(0.97), resulting in projected Adjusted EPS of approximately $17.00. The company also notes it will not comment on 2026 Medicare Advantage Star Ratings until CMS releases final data in October.
Humana Inc. (HUM) Form 4 – insider equity change filed 08-05-2025. SVP & Chief Accounting Officer John-Paul W. Felter converted 211 restricted stock units under the 2019 Stock Incentive Plan on 08-01-2025 (Code M). Immediately upon vesting, 97 shares were sold (Code F) at $248.415 to cover tax obligations, a routine withholding transaction yielding no cash proceeds to the insider. Net of withholding, Felter’s direct common-stock holding rose by 114 shares to 1,881 shares. Derivative holdings fell to 115 RSUs after the conversion, and 1,203 additional RSUs remain reported in footnote (4). No open-market purchases or sales were disclosed. The activity represents scheduled vesting rather than discretionary trading, and the dollar value (<~$26k of tax-withheld shares) is immaterial relative to HUM’s market capitalization, suggesting limited signaling value for investors.
Humana Inc. (NYSE: HUM) filed its Q2-25 Form 10-Q. Premium and service revenues rose 10% YoY to $32.4 bn for the quarter and 9% YoY to $64.5 bn for the first half. Growth was driven by Medicare Advantage membership and higher services revenue.
Quarterly results weakened: operating income fell 4% to $1.1 bn, while net income dropped 20% to $545 m ($4.51 diluted EPS vs. $5.62). Benefit expense grew 10% and other expense jumped to $200 m, reflecting value-creation and impairment charges. The medical benefit ratio ticked up 90 bp to 89.8%.
Year-to-date performance stronger: YTD net income climbed 26% to $1.79 bn with diluted EPS of $14.81 (+26%), aided by lower benefit ratio (88.4%) and higher operating margins.
Balance sheet: cash & equivalents doubled to $4.0 bn; total assets $50.4 bn. Long-term debt rose to $12.6 bn after issuing $1.5 bn of new senior notes (5.55% 2035; 6.00% 2055) and retiring $600 m notes due 2025. A new $5 bn 5-year revolving credit facility replaced prior lines; no outstanding borrowings.
Capital return: $100 m share buybacks (0.4 m shares at $234 avg) and $0.885 quarterly dividend ($321 m YTD). Remaining authorization: $2.8 bn.
Key risks & items: Medicare Part D redesign effective 2025, ongoing cost-saving initiatives (additional charges expected), $32 m intangible impairment, and put/call obligations on WCAS clinic JV valued at $1.25 bn. Effective tax rate 24.6%. Shares outstanding 120.3 m.