Hedge Funds and Insiders Are Buying These 5 Stocks

1. Humana Inc (NYSE:HUM)

Number of Hedge Fund Investors: 86

Jorge S. Mesquita, a director at health insurance giant Humana Inc’s (NYSE:HUM) board, bought 545 shares of Humana Inc (NYSE:HUM) at $367.09 per share on February 20. Since then through March 21 the stock has lost about 5.15%.

As of the end of the fourth quarter of last year, 86 hedge funds tracked by Insider Monkey had stakes in Humana Inc (NYSE:HUM).

Diamond Hill Select Strategy stated the following regarding Humana Inc. (NYSE:HUM) in its fourth quarter 2023 investor letter:

“Only one stock detracted from performance in Q4 — health insurance company Humana Inc. (NYSE:HUM). The company faces growing concerns about heightened medical utilization, which would pressure health insurers’ medical loss ratios. Given heightened utilization among the Medicare Advantage population, there is some uncertainty among investors as to whether Humana’s rate bids for 2024 will prove adequate to cover increased costs. However, we maintain our conviction in Humana’s position as a leading insurer catering to the senior population with the opportunity to increase penetration of Medicare Advantage enrollment within the broader Medicare-eligible population.”

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