Brown Advisory Inc. Reduces Position in Horace Mann Educators Corporation $HMN

Brown Advisory Inc. lessened its holdings in shares of Horace Mann Educators Corporation (NYSE:HMN) by 5.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 977,174 shares of the insurance provider’s stock after selling 57,308 shares during the quarter. Brown Advisory Inc.’s holdings in Horace Mann Educators were worth $41,989,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Hennessy Advisors Inc. purchased a new stake in shares of Horace Mann Educators during the 2nd quarter valued at approximately $10,377,000. Arrowstreet Capital Limited Partnership raised its holdings in Horace Mann Educators by 43.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 732,958 shares of the insurance provider’s stock valued at $31,495,000 after acquiring an additional 220,275 shares during the period. American Century Companies Inc. lifted its position in shares of Horace Mann Educators by 66.7% during the first quarter. American Century Companies Inc. now owns 550,138 shares of the insurance provider’s stock worth $23,507,000 after acquiring an additional 220,174 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Horace Mann Educators in the second quarter worth $5,749,000. Finally, Nuveen LLC purchased a new position in shares of Horace Mann Educators in the first quarter valued at $5,089,000. Institutional investors own 99.28% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Marita Zuraitis sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $45.35, for a total value of $226,750.00. Following the transaction, the chief executive officer directly owned 283,788 shares in the company, valued at approximately $12,869,785.80. This represents a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Mark R. Desrochers sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $47.00, for a total transaction of $141,000.00. Following the completion of the sale, the senior vice president directly owned 20,556 shares in the company, valued at $966,132. This represents a 12.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 20,398 shares of company stock worth $921,348 over the last three months. Company insiders own 4.00% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Horace Mann Educators in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.75.

Horace Mann Educators Stock Down 2.4%

HMN opened at $43.48 on Friday. The firm has a market capitalization of $1.77 billion, a P/E ratio of 11.01 and a beta of 0.08. Horace Mann Educators Corporation has a one year low of $36.20 and a one year high of $48.33. The company has a fifty day moving average price of $45.00 and a 200-day moving average price of $44.09. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.10 and a quick ratio of 0.10.

Horace Mann Educators (NYSE:HMN) last issued its quarterly earnings data on Monday, April 3rd. The insurance provider reported $1.18 earnings per share (EPS) for the quarter. Horace Mann Educators had a return on equity of 15.69% and a net margin of 9.79%.The company had revenue of $330.60 million for the quarter. Equities research analysts expect that Horace Mann Educators Corporation will post 3.87 earnings per share for the current fiscal year.

Horace Mann Educators Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $1.40 annualized dividend and a dividend yield of 3.2%. Horace Mann Educators’s payout ratio is presently 35.44%.

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.