Horace Mann Educators (NYSE:HMN) Sets New 12-Month High Following Dividend Announcement

Horace Mann Educators Co. (NYSE:HMN)’s share price hit a new 52-week high during mid-day trading on Monday following a dividend announcement from the company. The company traded as high as $43.41 and last traded at $43.40, with a volume of 29720 shares changing hands. The stock had previously closed at $42.33.

The newly announced dividend which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a $0.35 dividend. This is a positive change from Horace Mann Educators’s previous quarterly dividend of $0.34. This represents a $1.40 dividend on an annualized basis and a yield of 3.28%. Horace Mann Educators’s dividend payout ratio is 54.84%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Piper Sandler boosted their target price on Horace Mann Educators from $42.00 to $44.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods upped their price target on shares of Horace Mann Educators from $44.00 to $45.00 and gave the stock a “market perform” rating in a report on Tuesday, February 11th. Finally, JMP Securities reiterated a “market perform” rating on shares of Horace Mann Educators in a report on Friday, February 7th. Four investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Horace Mann Educators has an average rating of “Hold” and a consensus price target of $43.67.

Horace Mann Educators Stock Performance

The firm has a 50 day moving average price of $39.42 and a 200 day moving average price of $38.21. The stock has a market cap of $1.74 billion, a PE ratio of 17.22 and a beta of 0.31. The company has a quick ratio of 0.09, a current ratio of 0.10 and a debt-to-equity ratio of 0.42.

Horace Mann Educators (NYSE:HMN) last announced its earnings results on Wednesday, February 5th. The insurance provider reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.58. Horace Mann Educators had a return on equity of 10.58% and a net margin of 6.44%. As a group, research analysts forecast that Horace Mann Educators Co. will post 3.87 earnings per share for the current year.

Insider Activity

In other Horace Mann Educators news, CEO Marita Zuraitis sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $39.40, for a total value of $157,600.00. Following the completion of the sale, the chief executive officer now directly owns 298,324 shares in the company, valued at $11,753,965.60. This trade represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Beverley J. Mcclure sold 2,817 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $38.36, for a total value of $108,060.12. Following the transaction, the director now directly owns 16,352 shares in the company, valued at approximately $627,262.72. The trade was a 14.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,817 shares of company stock worth $415,140. Corporate insiders own 3.80% of the company’s stock.

Institutional Trading of Horace Mann Educators

Several large investors have recently bought and sold shares of the stock. Bank of Montreal Can lifted its stake in shares of Horace Mann Educators by 2.1% during the fourth quarter. Bank of Montreal Can now owns 13,269 shares of the insurance provider’s stock worth $521,000 after buying an additional 272 shares during the period. Victory Capital Management Inc. raised its stake in shares of Horace Mann Educators by 1.4% in the fourth quarter. Victory Capital Management Inc. now owns 21,690 shares of the insurance provider’s stock worth $851,000 after purchasing an additional 305 shares during the last quarter. Sit Investment Associates Inc. lifted its holdings in shares of Horace Mann Educators by 1.9% during the fourth quarter. Sit Investment Associates Inc. now owns 21,825 shares of the insurance provider’s stock worth $856,000 after purchasing an additional 400 shares during the period. Nisa Investment Advisors LLC boosted its position in Horace Mann Educators by 2.0% in the third quarter. Nisa Investment Advisors LLC now owns 29,444 shares of the insurance provider’s stock valued at $1,029,000 after buying an additional 570 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its position in Horace Mann Educators by 1.2% in the fourth quarter. Harbor Capital Advisors Inc. now owns 50,873 shares of the insurance provider’s stock valued at $1,996,000 after buying an additional 581 shares during the last quarter. Hedge funds and other institutional investors own 99.28% of the company’s stock.

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.