Cornercap Investment Counsel Inc. Acquires Shares of 15,564 Horace Mann Educators Co. (NYSE:HMN)

Cornercap Investment Counsel Inc. acquired a new stake in shares of Horace Mann Educators Co. (NYSE:HMN) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,564 shares of the insurance provider’s stock, valued at approximately $508,000.

Other institutional investors also recently modified their holdings of the company. Louisiana State Employees Retirement System increased its stake in Horace Mann Educators by 2.0% during the 2nd 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 in the last quarter. Texas Permanent School Fund Corp raised its holdings in shares of Horace Mann Educators by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 35,740 shares of the insurance provider’s stock worth $1,322,000 after acquiring an additional 464 shares during the last quarter. Natixis Advisors LLC lifted its position in Horace Mann Educators by 2.2% in the 2nd quarter. Natixis Advisors LLC now owns 22,333 shares of the insurance provider’s stock valued at $729,000 after acquiring an additional 473 shares in the last quarter. Bessemer Group Inc. lifted its position in Horace Mann Educators by 228.9% in the 1st quarter. Bessemer Group Inc. now owns 694 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 483 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Horace Mann Educators by 6.1% during the 4th quarter. Victory Capital Management Inc. now owns 9,474 shares of the insurance provider’s stock valued at $310,000 after purchasing an additional 544 shares during the last quarter. 99.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

HMN has been the topic of a number of recent research reports. Raymond James initiated coverage on Horace Mann Educators in a report on Tuesday, August 6th. They issued a “strong-buy” rating and a $42.00 target price on the stock. Piper Sandler dropped their price objective on Horace Mann Educators from $37.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, June 28th. Keefe, Bruyette & Woods cut their price objective on shares of Horace Mann Educators from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Tuesday, August 13th. Finally, JMP Securities reiterated a “market perform” rating on shares of Horace Mann Educators in a report on Tuesday, June 18th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Horace Mann Educators currently has an average rating of “Moderate Buy” and an average price target of $38.67.

Horace Mann Educators Stock Performance

Shares of Horace Mann Educators stock opened at $33.98 on Friday. The firm has a market capitalization of $1.39 billion, a P/E ratio of 21.78 and a beta of 0.28. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.45. The business’s fifty day simple moving average is $34.16 and its 200 day simple moving average is $34.69. Horace Mann Educators Co. has a 12 month low of $28.27 and a 12 month high of $39.25.

Horace Mann Educators (NYSE:HMN) last issued its quarterly earnings results on Wednesday, August 7th. The insurance provider reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. Horace Mann Educators had a net margin of 5.24% and a return on equity of 7.44%. The company had revenue of $388.10 million for the quarter, compared to the consensus estimate of $288.67 million. During the same period in the previous year, the firm earned $0.03 EPS. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. As a group, analysts anticipate that Horace Mann Educators Co. will post 2.56 EPS for the current year.

Horace Mann Educators Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.00%. Horace Mann Educators’s dividend payout ratio (DPR) is presently 87.18%.

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.