Horace Mann Educators Co. (NYSE:HMN) Declares Quarterly Dividend of $0.33

Horace Mann Educators Co. (NYSE:HMN – Get Rating) announced a quarterly dividend on Wednesday, May 24th, Zacks reports. Investors of record on Thursday, June 15th will be given a dividend of 0.33 per share by the insurance provider on Friday, June 30th. This represents a $1.32 annualized dividend and a yield of 4.28%. The ex-dividend date is Wednesday, June 14th.

Horace Mann Educators has raised its dividend payment by an average of 3.6% per year over the last three years and has increased its dividend annually for the last 14 consecutive years. Horace Mann Educators has a dividend payout ratio of 37.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Horace Mann Educators to earn $3.22 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 41.0%.

Horace Mann Educators Price Performance

Horace Mann Educators stock opened at $30.87 on Friday. Horace Mann Educators has a 12-month low of $30.61 and a 12-month high of $42.24. The stock has a market cap of $1.26 billion, a P/E ratio of -118.73 and a beta of 0.40. The company has a 50-day moving average price of $32.75 and a 200 day moving average price of $35.43. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.22.

Analyst Ratings Changes

A number of brokerages have weighed in on HMN. Piper Sandler dropped their price target on shares of Horace Mann Educators from $38.00 to $36.00 in a research report on Wednesday, April 5th. StockNews.com began coverage on shares of Horace Mann Educators in a research report on Thursday, May 18th. They set a “hold” rating for the company.

Insider Buying and Selling at Horace Mann Educators

In other news, SVP Michael Weckenbrock sold 1,600 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $32.82, for a total value of $52,512.00. Following the completion of the transaction, the senior vice president now owns 5,424 shares of the company’s stock, valued at $178,015.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Stifel Financial Corp boosted its stake in shares of Horace Mann Educators by 12.3% in the first quarter. Stifel Financial Corp now owns 8,397 shares of the insurance provider’s stock valued at $281,000 after purchasing an additional 920 shares during the period. Mackenzie Financial Corp purchased a new position in shares of Horace Mann Educators in the fourth quarter valued at approximately $260,000. Keeley Teton Advisors LLC purchased a new position in shares of Horace Mann Educators in the first quarter valued at approximately $251,000. Eaton Vance Management boosted its stake in shares of Horace Mann Educators by 50.2% in the first quarter. Eaton Vance Management now owns 5,781 shares of the insurance provider’s stock valued at $242,000 after purchasing an additional 1,932 shares during the period. Finally, Captrust Financial Advisors boosted its stake in shares of Horace Mann Educators by 58.6% in the second quarter. Captrust Financial Advisors now owns 6,156 shares of the insurance provider’s stock valued at $236,000 after purchasing an additional 2,274 shares during the period.

About Horace Mann Educators

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Horace Mann Educators Corp. is an insurance holding company, which engages in the provision of insurance and retirement solutions to educators and school employees. It operates through the following business segments: Property and Casualty, Supplemental, Retirement, Life, and Corporate and Other. The Property and Casualty segment focuses on personal lines of automobile and property insurance products.