Upgrading Humana to Narrow Moat, Affirming Anthem's Strong Competitive Footing; Raising FVEs
As we continue to refresh our managed-care coverage, we're upgrading Humana to a narrow moat rating while raising our moat trend outlook for both Humana and Anthem to stable from negative. We've reaffirmed Anthem's narrow moat rating and have raised our fair value estimates for both firms.We think Humana has been successful in carving out competitive advantages in its market niche of Medicare Advantage. The firm has garnered market share levels that approach nearly a third of MA enrollees in th...
Humana is a holding company. Through its subsidiaries, the company is a health and well-being company. The company manages its business with three segments: Retail, which consists of products sold on a retail basis to individuals including medical and supplemental benefit plans, such as Medicare and state-based Medicaid Contracts; Group and Specialty, which consists of employer group commercial fully-insured medical and specialty health insurance benefits, including dental, vision and life insurance benefits, as well as administrative services only; and Healthcare Services, which includes pharmacy solutions, provider services, clinical care services, and predictive modeling and informatics services
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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