Bank of New York Mellon Corp Reduces Position in Horace Mann Educators Corporation (NYSE:HMN)

Bank of New York Mellon Corp lessened its holdings in shares of Horace Mann Educators Corporation (NYSE:HMN) by 3.9% in the 1st quarter, Holdings Channel reports. The fund owned 451,801 shares of the insurance provider’s stock after selling 18,454 shares during the quarter. Bank of New York Mellon Corp’s holdings in Horace Mann Educators were worth $19,305,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Bank of Montreal Can grew its stake in Horace Mann Educators by 2.1% during the 4th quarter. Bank of Montreal Can now owns 13,269 shares of the insurance provider’s stock valued at $521,000 after acquiring an additional 272 shares in the last quarter. Victory Capital Management Inc. grew its stake in Horace Mann Educators by 1.4% during the 4th quarter. Victory Capital Management Inc. now owns 21,690 shares of the insurance provider’s stock valued at $851,000 after acquiring an additional 305 shares in the last quarter. Sit Investment Associates Inc. grew its stake in shares of Horace Mann Educators by 1.9% in the 4th quarter. Sit Investment Associates Inc. now owns 21,825 shares of the insurance provider’s stock valued at $856,000 after buying an additional 400 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Horace Mann Educators by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,385 shares of the insurance provider’s stock valued at $917,000 after buying an additional 810 shares during the period. Finally, MetLife Investment Management LLC grew its stake in shares of Horace Mann Educators by 4.2% in the 4th quarter. MetLife Investment Management LLC now owns 25,051 shares of the insurance provider’s stock valued at $983,000 after buying an additional 1,020 shares during the period. Hedge funds and other institutional investors own 99.28% of the company’s stock.

Insider Buying and Selling

In other Horace Mann Educators news, Director Victor Fetter bought 3,500 shares of Horace Mann Educators stock in a transaction on Tuesday, May 20th. The shares were bought at an average cost of $44.03 per share, for a total transaction of $154,105.00. Following the acquisition, the director directly owned 14,655 shares in the company, valued at $645,259.65. This represents a 31.38% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Marita Zuraitis sold 5,000 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $41.40, for a total transaction of $207,000.00. Following the sale, the chief executive officer owned 315,451 shares in the company, valued at approximately $13,059,671.40. This trade represents a 1.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,198 shares of company stock valued at $2,206,575. Company insiders own 4.00% of the company’s stock.

Wall Street Analyst Weigh In

HMN has been the subject of several analyst reports. Raymond James Financial reissued a “strong-buy” rating on shares of Horace Mann Educators in a research note on Thursday, May 15th. Piper Sandler increased their price target on shares of Horace Mann Educators from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, July 3rd. Finally, Wall Street Zen raised shares of Horace Mann Educators from a “buy” rating to a “strong-buy” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $46.33.

Horace Mann Educators Stock Performance

NYSE:HMN opened at $41.32 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.09 and a current ratio of 0.09. The stock has a market capitalization of $1.69 billion, a P/E ratio of 14.97 and a beta of 0.27. The company has a 50 day moving average price of $42.47 and a 200 day moving average price of $41.14. Horace Mann Educators Corporation has a fifty-two week low of $31.95 and a fifty-two week high of $44.44.

Horace Mann Educators (NYSE:HMN) last posted its quarterly earnings data on Tuesday, May 6th. The insurance provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.19. The firm 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%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the company posted $0.62 EPS. Equities research analysts forecast that Horace Mann Educators Corporation will post 3.87 EPS for the current year.

Horace Mann Educators announced that its board has initiated a share buyback program on Tuesday, May 13th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the insurance provider to purchase up to 3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Horace Mann Educators Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.39%. Horace Mann Educators’s payout ratio is currently 50.72%.

Horace Mann Educators Company Profile

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.