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

Keefe, Bruyette & Woods downgraded shares of Horace Mann Educators (NYSE:HMN) from an outperform rating to a market perform rating in a report issued on Tuesday morning, MarketBeat.com reports. Keefe, Bruyette & Woods currently has $44.00 target price on the insurance provider’s stock, up from their previous target price of $39.00.

Several other research analysts have also issued reports on HMN. Raymond James started coverage on shares of Horace Mann Educators in a research note on Tuesday, August 6th. They set a “strong-buy” rating and a $42.00 target price on the stock. Piper Sandler upped their price target on Horace Mann Educators from $36.00 to $42.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Horace Mann Educators presently has an average rating of “Hold” and a consensus price target of $42.67.

Horace Mann Educators Trading Up 0.8 %

HMN opened at $41.27 on Tuesday. Horace Mann Educators has a twelve month low of $31.81 and a twelve month high of $43.26. The company has a fifty day moving average of $36.62 and a 200-day moving average of $35.08. The stock has a market cap of $1.68 billion, a PE ratio of 16.44 and a beta of 0.27. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.42.

Horace Mann Educators (NYSE:HMN) last posted its quarterly earnings data on Monday, November 4th. The insurance provider reported $0.76 earnings per share for the quarter, topping 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 firm had revenue of $412.10 million during the quarter, compared to analyst estimates of $293.87 million. During the same period last year, the company posted $0.44 EPS. The business’s quarterly revenue was up 8.8% on a year-over-year basis. On average, sell-side analysts predict that Horace Mann Educators will post 2.61 EPS for the current year.

Horace Mann Educators Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.34 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.36 annualized dividend and a yield of 3.30%. Horace Mann Educators’s payout ratio is 54.18%.

Insiders Place Their Bets

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

Institutional Trading of Horace Mann Educators

A number of institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its position in shares of Horace Mann Educators by 1.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,533,774 shares of the insurance provider’s stock valued at $82,653,000 after purchasing an additional 43,064 shares during the last quarter. State Street Corp raised its position in Horace Mann Educators by 1.3% in the third quarter. State Street Corp now owns 1,633,717 shares of the insurance provider’s stock worth $57,098,000 after acquiring an additional 20,771 shares during the period. Earnest Partners LLC boosted its stake in Horace Mann Educators by 1.9% in the second quarter. Earnest Partners LLC now owns 1,426,089 shares of the insurance provider’s stock valued at $46,519,000 after acquiring an additional 26,736 shares during the last quarter. Deprince Race & Zollo Inc. grew its position in shares of Horace Mann Educators by 8.7% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,083,715 shares of the insurance provider’s stock valued at $35,351,000 after acquiring an additional 86,766 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Horace Mann Educators by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 558,310 shares of the insurance provider’s stock worth $19,513,000 after purchasing an additional 6,254 shares during the last quarter. 99.28% of the stock is owned by hedge funds and other institutional investors.

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.