Horace Mann Educators (NYSE:HMN) Cut to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Horace Mann Educators to “Hold” from “Buy,” although other analysts remain positive; the stock carries a consensus “Strong Buy” rating and a $59 average price target.
• Horace Mann reported stronger-than-expected quarterly results, with EPS of $1.17 versus the $0.79 consensus and revenue of $443.5 million, up 7.7% year over year.
• Insiders sold 20,291 shares worth roughly $1.05 million over the past quarter, while institutional investors own a substantial 99.28% of the company’s stock.

Horace Mann Educators (NYSE:HMN - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Sunday, Wall Street Zen reports.

Other research analysts have also recently issued reports about the stock. Zacks Research raised shares of Horace Mann Educators from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. Raymond James Financial reiterated a "strong-buy" rating and set a $59.00 target price on shares of Horace Mann Educators in a research report on Thursday, August 13th. Finally, Weiss Ratings reissued a "buy (a-)" rating on shares of Horace Mann Educators in a research note on Friday, September 11th. Three investment analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat, Horace Mann Educators has an average rating of "Strong Buy" and an average target price of $59.00.

Horace Mann Educators Stock Up 0.8%

HMN stock opened at $45.28 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.08 and a current ratio of 0.08. The company's 50 day moving average price is $50.06 and its 200 day moving average price is $48.13. Horace Mann Educators has a fifty-two week low of $41.29 and a fifty-two week high of $55.56. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 10.58 and a beta of 0.08.

Horace Mann Educators (NYSE:HMN - Get Free Report) last announced its quarterly earnings data on Friday, August 7th. The insurance provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.38. Horace Mann Educators had a net margin of 10.15% and a return on equity of 14.08%. The company had revenue of $443.50 million for the quarter, compared to analysts' expectations of $321.70 million. During the same period in the previous year, the company posted $1.06 EPS. Horace Mann Educators's revenue was up 7.7% compared to the same quarter last year. On average, equities research analysts anticipate that Horace Mann Educators will post 4.78 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, General Counsel Donald M. Carley sold 2,054 shares of Horace Mann Educators stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $52.28, for a total transaction of $107,383.12. Following the completion of the transaction, the general counsel directly owned 28,760 shares in the company, valued at $1,503,572.80. The trade was a 6.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Perry G. Hines sold 3,237 shares of the company's stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $52.22, for a total value of $169,036.14. Following the completion of the sale, the director directly owned 25,118 shares in the company, valued at approximately $1,311,661.96. The trade was a 11.42% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 20,291 shares of company stock worth $1,049,069. Insiders own 3.60% of the company's stock.

Institutional Trading of Horace Mann Educators

Several institutional investors and hedge funds have recently made changes to their positions in HMN. Hsbc Holdings PLC acquired a new position in Horace Mann Educators in the 4th quarter valued at about $914,000. Emerald Investment Advisers LLC acquired a new stake in shares of Horace Mann Educators during the 2nd quarter worth about $3,471,000. Bank of America Corp DE purchased a new stake in shares of Horace Mann Educators during the second quarter worth about $29,287,000. B. Metzler seel. Sohn & Co. AG acquired a new position in shares of Horace Mann Educators in the second quarter valued at approximately $1,705,000. Finally, BlackRock Inc. acquired a new position in shares of Horace Mann Educators in the second quarter valued at approximately $304,006,000. 99.28% of the stock is currently owned by hedge funds and other institutional investors.

About Horace Mann Educators

Horace Mann Educators Corporation NYSE: HMN is an insurance and financial services company focused on serving educators and other employees of public schools. Through its subsidiaries and affiliated agencies, the company provides insurance products and retirement solutions designed to address the needs of the education community.

Its offerings include automobile and homeowners insurance, life insurance, annuities, and other supplemental insurance products. Horace Mann also provides retirement products and services intended to help educators plan for long-term financial needs.

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