Horace Mann Educators (NYSE:HMN) Upgraded to “Strong-Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Horace Mann Educators (NYSE:HMN) from a buy rating to a strong-buy rating in a research report report published on Friday.

Several other equities research analysts also recently weighed in on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Horace Mann Educators from $44.00 to $45.00 and gave the company a “market perform” rating in a research note on Tuesday, February 11th. Piper Sandler raised their target price on Horace Mann Educators from $42.00 to $44.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Raymond James reaffirmed a “strong-buy” rating on shares of Horace Mann Educators in a research note on Thursday, May 15th. Finally, JMP Securities reiterated a “market perform” rating on shares of Horace Mann Educators in a report on Friday, February 7th. Three analysts have rated the stock with a hold rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Horace Mann Educators presently has a consensus rating of “Moderate Buy” and an average price target of $46.00.

Horace Mann Educators Trading Up 1.9%

NYSE HMN opened at $43.97 on Friday. The stock has a market capitalization of $1.79 billion, a P/E ratio of 17.73 and a beta of 0.28. The business has a 50 day simple moving average of $41.82 and a 200 day simple moving average of $40.86. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.10 and a quick ratio of 0.09. Horace Mann Educators has a one year low of $31.81 and a one year high of $44.44.

Horace Mann Educators (NYSE:HMN) last posted its quarterly earnings results on Tuesday, May 6th. The insurance provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.19. The firm had revenue of $416.40 million for the quarter, compared to analysts’ expectations of $421.40 million. Horace Mann Educators had a return on equity of 10.58% and a net margin of 6.44%. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.62 EPS. Research analysts expect that Horace Mann Educators will post 3.87 earnings per share for the current year.

Horace Mann Educators Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Monday, June 16th. Horace Mann Educators’s dividend payout ratio (DPR) is presently 50.72%.

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

Insider Activity at Horace Mann Educators

In other news, Director Victor Fetter purchased 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 20th. The shares were acquired at an average cost of $44.03 per share, for a total transaction of $154,105.00. Following the completion of the acquisition, the director now owns 14,655 shares in the company, valued at $645,259.65. This trade represents a 31.38% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Bret A. Conklin sold 6,486 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $43.55, for a total transaction of $282,465.30. Following the completion of the sale, the executive vice president now owns 57,026 shares of the company’s stock, valued at approximately $2,483,482.30. This trade represents a 10.21% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 49,254 shares of company stock valued at $2,124,164. 4.00% of the stock is owned by insiders.

Institutional Trading of Horace Mann Educators

Hedge funds have recently bought and sold shares of the business. Hodges Capital Management Inc. purchased a new stake in shares of Horace Mann Educators during the 1st quarter valued at $3,069,000. Intech Investment Management LLC grew its position in Horace Mann Educators by 8.4% during the first quarter. Intech Investment Management LLC now owns 32,340 shares of the insurance provider’s stock valued at $1,382,000 after buying an additional 2,507 shares during the period. Jane Street Group LLC grew its position in Horace Mann Educators by 313.8% during the first quarter. Jane Street Group LLC now owns 91,640 shares of the insurance provider’s stock valued at $3,916,000 after buying an additional 69,492 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Horace Mann Educators by 5.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 138,788 shares of the insurance provider’s stock worth $5,930,000 after buying an additional 7,542 shares during the last quarter. Finally, Empowered Funds LLC increased its holdings in Horace Mann Educators by 2.1% during the first quarter. Empowered Funds LLC now owns 174,926 shares of the insurance provider’s stock worth $7,475,000 after buying an additional 3,548 shares during the last quarter. 99.28% of the stock is currently owned by institutional investors.

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.