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Humana ( (HUM) ) has shared an update.
On March 5, 2026, Humana entered an underwriting agreement with a syndicate led by Goldman Sachs and J.P. Morgan to issue $1.0 billion of 6.625% fixed-to-fixed rate junior subordinated notes due 2056, sold at par. After underwriting discounts and expenses, Humana expects net proceeds of about $986 million, earmarked for general corporate purposes that may include repaying existing debt and borrowings under its commercial paper program.
The notes, which closed in a public offering on March 9, 2026, are unsecured junior subordinated obligations, ranking below the company’s senior and secured debt and structurally subordinated to subsidiary liabilities. They pay a 6.625% coupon until September 15, 2031, then reset every five years at the five-year U.S. Treasury rate plus 2.891%, with a floor of 6.625%, giving Humana long-dated, hybrid-like capital and added financial flexibility via optional interest deferrals of up to 10 consecutive years, but also embedding higher subordination risk for noteholders.
The most recent analyst rating on (HUM) stock is a Hold with a $185.00 price target. To see the full list of analyst forecasts on Humana stock, see the HUM Stock Forecast page.
Spark’s Take on HUM Stock
According to Spark, TipRanks’ AI Analyst, HUM is a Neutral.
The score is held back primarily by sharply weaker 2025 cash-flow conversion and margin compression, plus bearish technical momentum (price below key moving averages with negative MACD). A moderate valuation and dividend offer partial support, but the latest call’s guidance points to significant near-term EPS pressure from the STARS headwind even as membership growth and efficiency initiatives support a longer-term recovery outlook.
To see Spark’s full report on HUM stock, click here.
More about Humana
Humana Inc. is a U.S.-based health insurance and healthcare services company focused on Medicare Advantage and other government-backed programs, as well as its CenterWell healthcare services business. The company designs and prices insurance products, manages medical cost trends, and operates within heavily regulated government contracting and reimbursement frameworks.
Average Trading Volume: 1,942,550
Technical Sentiment Signal: Sell
Current Market Cap: $21.6B
See more insights into HUM stock on TipRanks’ Stock Analysis page.