Piper Sandler Forecasts Strong Price Appreciation for Horace Mann Educators (NYSE:HMN) Stock

Horace Mann Educators (NYSE:HMN) had its price target increased by Piper Sandler from $44.00 to $45.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the insurance provider’s stock.

Several other analysts also recently weighed in on HMN. Wall Street Zen downgraded Horace Mann Educators from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 21st. Raymond James Financial reissued a “strong-buy” rating on shares of Horace Mann Educators in a report on Thursday, May 15th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $46.33.

Horace Mann Educators Stock Performance

Shares of HMN stock opened at $42.60 on Thursday. Horace Mann Educators has a 12 month low of $31.81 and a 12 month high of $44.44. The stock has a market cap of $1.74 billion, a PE ratio of 15.43 and a beta of 0.27. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.41. The company’s fifty day moving average price is $42.61 and its 200-day moving average price is $41.01.

Horace Mann Educators (NYSE:HMN) last issued its quarterly earnings results on Tuesday, May 6th. The insurance provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.19. The company had revenue of $416.40 million during the quarter, compared to analysts’ expectations of $421.40 million. Horace Mann Educators had a net margin of 7.04% and a return on equity of 11.86%. Horace Mann Educators’s revenue was up 7.9% on a year-over-year basis. During the same period last year, the company posted $0.62 EPS. On average, equities analysts expect that Horace Mann Educators will post 3.87 EPS for the current fiscal year.

Horace Mann Educators announced that its board has approved a share buyback plan on Tuesday, May 13th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the insurance provider to reacquire up to 3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Horace Mann Educators Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were issued a $0.35 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $1.40 annualized dividend and a yield of 3.29%. Horace Mann Educators’s dividend payout ratio (DPR) is presently 50.72%.

Insider Activity at Horace Mann Educators

In related news, EVP Bret A. Conklin sold 4,760 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $42.90, for a total value of $204,204.00. Following the completion of the transaction, the executive vice president directly owned 58,587 shares in the company, valued at $2,513,382.30. The trade was a 7.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Victor Fetter bought 3,500 shares of the business’s stock in a transaction on Tuesday, May 20th. The shares were acquired at an average price of $44.03 per share, for a total transaction of $154,105.00. Following the completion of the purchase, the director owned 14,655 shares in the company, valued at approximately $645,259.65. The trade was a 31.38% increase in their position. The disclosure for this purchase can be found here. Insiders sold 51,198 shares of company stock valued at $2,206,575 over the last 90 days. Corporate insiders own 4.00% of the company’s stock.

Institutional Trading of Horace Mann Educators

A number of institutional investors have recently made changes to their positions in HMN. Smartleaf Asset Management LLC raised its holdings in shares of Horace Mann Educators by 389.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 779 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 620 shares during the last quarter. Sterling Capital Management LLC grew its position in Horace Mann Educators by 806.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,296 shares of the insurance provider’s stock worth $51,000 after purchasing an additional 1,153 shares during the period. GAMMA Investing LLC raised its stake in Horace Mann Educators by 69.5% during the 1st quarter. GAMMA Investing LLC now owns 2,697 shares of the insurance provider’s stock valued at $115,000 after buying an additional 1,106 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Horace Mann Educators by 2,693.3% during the 1st quarter. US Bancorp DE now owns 4,190 shares of the insurance provider’s stock valued at $179,000 after buying an additional 4,040 shares during the period. Finally, FourThought Financial Partners LLC bought a new position in shares of Horace Mann Educators during the 1st quarter valued at $218,000. Hedge funds and other institutional investors own 99.28% of the company’s stock.

About Horace Mann Educators

Horace Mann Educators Corporation, together with its subsidiaries, operates as an insurance holding company in the United States. The company operates through Property & Casualty, Life & Retirement, and Supplemental & Group Benefits segments. Its Property & Casualty segment offers insurance products, including private passenger auto insurance, residential home insurance, and personal umbrella insurance; and provides auto coverages including liability and collision, and property coverage for homeowners and renters.