Humana, $HUM, Posts a 21% Drop in Profits

“LOUISVILLE, Ky. (AP) — Humana Inc. said Monday that its first-quarter profit fell 21 percent as the health insurer paid out more in claims and bolstered spending in anticipation of growth in its lucrativeMedicare Advantage membership.

The Louisville-based company nudged up its earnings expectations for the full year to a range of $7.55 to $7.75 per share, up from its prior forecast of $7.50 to $7.70 per share.

But the first-quarter results and the increased forecast were short of Wall Street expectations. Its shares fell more than 2 percent in premarket trading….”

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