Louisville-based insurance giant Humana Inc. is having a good day on Wall Street today amid speculation it could be purchased by competitor Hartford, Conn.-based Aetna Inc. (NYSE: AET)
Humana Inc. is having a good day on Wall Street today based on speculation it could be purchased by competitor Hartford, Conn.-based Aetna Inc.
Louisville-based insurance giant Humana Inc. is having a good day on Wall Street today amid speculation it could be purchased by competitor Hartford, Conn.-based Aetna Inc. (NYSE: AET)
In early afternoon trading, Humana stock was up more than 3 percent, at $171.99. According to a report by Investor’s Business Daily, the rally is courtesy of an analyst’s report that an Aetna purchase of either Humana or Cigna Corp. (NYSE: CI) could be imminent. Cigna stock also was up.
According to the report, Aetna could offer $200 per share for Humana.
Tom Noland, Humana senior vice president, corporate communications, said that “as a matter of long-standing policy, Humana does not comment on rumors or speculation.”
The higher stock price marks a change from last week, when Humana stock was trending lower after the company’s earnings release in late April. In Friday’s weekly edition of Louisville Business First, you’ll find a story about how the sale of the company’s Concentra subsidiary is having a mixed impact on Humana.
Florida agreement
In an unrelated story, Humana also issued a news release today saying it would expand the role of nurse practitioners with a new collaboration with Florida International University.
Under an agreement, about 160 of the school’s master degree nursing students will get clinical hours at Humana-owned clinics in Florida.
Florida is an important market for Humana (NYSE: HUM). The company is the state’s largest medicare health benefits provider, with nearly 900,000 Medicare members statewide. It’s also one of Florida’s largest health care employers, with more than 11,000 associates across the state.
