Health insurer Humana spikes 17% after a report says it wants to sell itself

Humana

Humana shares spiked on Friday afternoon after a report that it is thinking about selling itself.

The health insurance company has hired Goldman Sachs to advise it on a possible deal, according to the Wall Street Journal, citing sources familiar with the matter.

Aetna and Cigna are among the companies that may be bidding for Humana, the Journal reported.

Humana’s stock jumped more than 18% to as high as $US210.65 per share in trading. Shares are now up 45% year-to-date, and 67% over the past 12 months.

The stock rallied the most on the S&P 500 as the broader index continues to trade in the red. Humana has a market cap of around $US28 billion.

Business Insider has reached out to Humana for comment and we’ll update if we hear back.

Here’s a chart showing the spike in Humana shares:

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