Horace Mann Educators Corporation $HMN Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. decreased its holdings in Horace Mann Educators Corporation (NYSE:HMN) by 1.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,461 shares of the insurance provider’s stock after selling 419 shares during the quarter. Corebridge Financial Inc. owned 0.05% of Horace Mann Educators worth $917,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. American Century Companies Inc. grew its position in Horace Mann Educators by 66.7% in the first quarter. American Century Companies Inc. now owns 550,138 shares of the insurance provider’s stock worth $23,507,000 after buying an additional 220,174 shares during the last quarter. Northern Trust Corp grew its position in Horace Mann Educators by 0.5% in the first quarter. Northern Trust Corp now owns 453,155 shares of the insurance provider’s stock worth $19,363,000 after buying an additional 2,247 shares during the last quarter. Bragg Financial Advisors Inc grew its position in Horace Mann Educators by 13.7% in the first quarter. Bragg Financial Advisors Inc now owns 450,709 shares of the insurance provider’s stock worth $19,259,000 after buying an additional 54,208 shares during the last quarter. Principal Financial Group Inc. grew its position in Horace Mann Educators by 2.5% in the first quarter. Principal Financial Group Inc. now owns 240,695 shares of the insurance provider’s stock worth $10,285,000 after buying an additional 5,978 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in Horace Mann Educators by 12.0% in the fourth quarter. AQR Capital Management LLC now owns 137,420 shares of the insurance provider’s stock worth $5,391,000 after buying an additional 14,739 shares during the last quarter. Institutional investors and hedge funds own 99.28% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on HMN. BMO Capital Markets set a $48.00 price target on shares of Horace Mann Educators and gave the stock an “outperform” rating in a research report on Monday, July 28th. Piper Sandler boosted their target price 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. Wall Street Zen downgraded shares of Horace Mann Educators from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 2nd. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of Horace Mann Educators in a research note on Thursday, May 15th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $46.75.

Insider Buying and Selling at Horace Mann Educators

In other news, CEO Marita Zuraitis sold 5,000 shares of the business’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $42.28, for a total transaction of $211,400.00. Following the transaction, the chief executive officer directly owned 302,155 shares in the company, valued at $12,775,113.40. The trade was a 1.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Donald M. Carley sold 3,500 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $45.94, for a total transaction of $160,790.00. Following the transaction, the general counsel owned 22,092 shares in the company, valued at approximately $1,014,906.48. This represents a 13.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,500 shares of company stock worth $815,340. 4.00% of the stock is currently owned by corporate insiders.

Horace Mann Educators Trading Down 1.5%

Horace Mann Educators stock opened at $46.24 on Friday. The company’s fifty day simple moving average is $43.20 and its 200-day simple moving average is $42.33. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.40. Horace Mann Educators Corporation has a 12 month low of $33.00 and a 12 month high of $47.32. The stock has a market cap of $1.88 billion, a P/E ratio of 13.68 and a beta of 0.27.

Horace Mann Educators (NYSE:HMN) last posted its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.06 EPS for the quarter, beating the consensus estimate of $0.61 by $0.45. Horace Mann Educators had a net margin of 8.49% and a return on equity of 14.23%. The business had revenue of $302.60 million for the quarter, compared to analysts’ expectations of $425.35 million. During the same period in the previous year, the company posted $0.20 EPS. Horace Mann Educators’s revenue was up 6.1% on a year-over-year basis. As a group, sell-side analysts forecast that Horace Mann Educators Corporation will post 3.87 EPS for the current fiscal year.

Horace Mann Educators Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Tuesday, September 16th. Horace Mann Educators’s payout ratio is currently 41.42%.

Horace Mann Educators announced that its Board of Directors has initiated a share buyback program on Tuesday, May 13th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the insurance provider to repurchase up to 3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

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.