Horace Mann Educators (NYSE:HMN) Cut to Market Perform at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods cut shares of Horace Mann Educators (NYSE:HMN) from an outperform rating to a market perform rating in a research note issued to investors on Tuesday, MarketBeat reports. They currently have $44.00 price target on the insurance provider’s stock, up from their prior price target of $39.00.

Several other equities analysts also recently commented on HMN. Raymond James began coverage on Horace Mann Educators in a research report on Tuesday, August 6th. They issued a “strong-buy” rating and a $42.00 price objective on the stock. Piper Sandler lifted their target price on Horace Mann Educators from $36.00 to $42.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $42.67.

Horace Mann Educators Price Performance

NYSE HMN opened at $40.93 on Tuesday. The company has a market capitalization of $1.67 billion, a PE ratio of 16.31 and a beta of 0.27. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.09 and a current ratio of 0.09. The business’s fifty day moving average is $36.50 and its 200 day moving average is $35.05. Horace Mann Educators has a fifty-two week low of $31.81 and a fifty-two week high of $43.26.

Horace Mann Educators (NYSE:HMN) last announced its quarterly earnings data on Monday, November 4th. The insurance provider reported $0.76 EPS for the quarter, beating the consensus estimate of $0.72 by $0.04. Horace Mann Educators had a return on equity of 8.14% and a net margin of 6.55%. The business had revenue of $412.10 million for the quarter, compared to the consensus estimate of $293.87 million. During the same period in the previous year, the business earned $0.44 earnings per share. The business’s revenue was up 8.8% on a year-over-year basis. Sell-side analysts predict that Horace Mann Educators will post 2.61 earnings per share for the current year.

Horace Mann Educators Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.36 annualized dividend and a yield of 3.32%. Horace Mann Educators’s payout ratio is currently 54.18%.

Insiders Place Their Bets

In other news, Director Beverley J. Mcclure sold 5,634 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $42.08, for a total transaction of $237,078.72. Following the transaction, the director now owns 19,057 shares of the company’s stock, valued at approximately $801,918.56. This represents a 22.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Marita Zuraitis sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $37.24, for a total value of $148,960.00. Following the completion of the sale, the chief executive officer now owns 292,336 shares of the company’s stock, valued at $10,886,592.64. The trade was a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,751 shares of company stock valued at $1,946,895 over the last ninety days. 3.80% of the stock is owned by insiders.

Institutional Trading of Horace Mann Educators

A number of large investors have recently modified their holdings of the company. Louisiana State Employees Retirement System boosted its holdings in shares of Horace Mann Educators by 2.0% in the second quarter. Louisiana State Employees Retirement System now owns 20,600 shares of the insurance provider’s stock valued at $672,000 after purchasing an additional 400 shares during the period. Texas Permanent School Fund Corp boosted its holdings in shares of Horace Mann Educators by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 35,740 shares of the insurance provider’s stock valued at $1,322,000 after purchasing an additional 464 shares during the period. Natixis Advisors LLC boosted its holdings in shares of Horace Mann Educators by 2.2% in the second quarter. Natixis Advisors LLC now owns 22,333 shares of the insurance provider’s stock valued at $729,000 after purchasing an additional 473 shares during the period. Bessemer Group Inc. boosted its holdings in shares of Horace Mann Educators by 228.9% in the first quarter. Bessemer Group Inc. now owns 694 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 483 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Horace Mann Educators by 142.1% during the third quarter. GAMMA Investing LLC now owns 920 shares of the insurance provider’s stock worth $32,000 after buying an additional 540 shares during the period. 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.