241,500 Shares in Horace Mann Educators Corporation $HMN Purchased by Hennessy Advisors Inc.

Key Points

• Hennessy Advisors Inc. purchased 241,500 shares of Horace Mann Educators Corporation for approximately $10.37 million, increasing its ownership to 0.59% of the company.
• The company reported $1.06 earnings per share for the last quarter, surpassing analysts' expectations and showing a 6.1% year-over-year revenue increase.
• Horace Mann has declared a quarterly dividend of $0.35, with a projected annualized yield of 3.2%, reflecting a dividend payout ratio of 41.42%.

Hennessy Advisors Inc. purchased a new position in shares of Horace Mann Educators Corporation (NYSE:HMN - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 241,500 shares of the insurance provider's stock, valued at approximately $10,377,000. Hennessy Advisors Inc. owned approximately 0.59% of Horace Mann Educators as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in HMN. American Century Companies Inc. lifted its position in Horace Mann Educators by 66.7% during the 1st quarter. American Century Companies Inc. now owns 550,138 shares of the insurance provider's stock worth $23,507,000 after buying an additional 220,174 shares in the last quarter. Nuveen LLC acquired a new position in Horace Mann Educators during the 1st quarter worth about $5,089,000. Hodges Capital Management Inc. acquired a new position in Horace Mann Educators during the 1st quarter worth about $3,069,000. Jane Street Group LLC lifted its position in Horace Mann Educators by 313.8% during the 1st quarter. Jane Street Group LLC now owns 91,640 shares of the insurance provider's stock worth $3,916,000 after buying an additional 69,492 shares in the last quarter. Finally, Bragg Financial Advisors Inc lifted its position in Horace Mann Educators by 13.7% during the 1st quarter. Bragg Financial Advisors Inc now owns 450,709 shares of the insurance provider's stock worth $19,259,000 after buying an additional 54,208 shares in the last quarter. Institutional investors and hedge funds own 99.28% of the company's stock.

Insider Buying and Selling

In related news, General Counsel Donald M. Carley sold 3,500 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $45.94, for a total value of $160,790.00. Following the sale, the general counsel directly owned 22,092 shares in the company, valued at $1,014,906.48. This trade represents a 13.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Marita Zuraitis sold 5,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $44.81, for a total transaction of $224,050.00. Following the completion of the sale, the chief executive officer owned 293,788 shares in the company, valued at $13,164,640.28. This represents a 1.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,500 shares of company stock worth $825,040 over the last quarter. 4.00% of the stock is currently owned by corporate insiders.

Horace Mann Educators Stock Performance

Shares of NYSE:HMN opened at $44.42 on Friday. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of 13.14 and a beta of 0.21. The firm's 50 day simple moving average is $44.95 and its 200 day simple moving average is $42.96. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.09 and a quick ratio of 0.09. Horace Mann Educators Corporation has a fifty-two week low of $34.19 and a fifty-two week high of $47.81.

Horace Mann Educators (NYSE:HMN - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.45. The business had revenue of $302.60 million for the quarter, compared to the consensus estimate of $425.35 million. Horace Mann Educators had a net margin of 8.49% and a return on equity of 14.23%. Horace Mann Educators's revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the company posted $0.20 EPS. As a group, sell-side analysts forecast that Horace Mann Educators Corporation will post 3.87 earnings per share for the current year.

Horace Mann Educators Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Tuesday, September 16th. Horace Mann Educators's dividend payout ratio (DPR) is currently 41.42%.

Analysts Set New Price Targets

HMN has been the subject of several recent research reports. Piper Sandler boosted their price objective on Horace Mann Educators from $44.00 to $45.00 and gave the stock a "neutral" rating in a report on Thursday, July 3rd. Wall Street Zen cut Horace Mann Educators from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. BMO Capital Markets set a $48.00 price objective on Horace Mann Educators and gave the stock an "outperform" rating in a report on Monday, July 28th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Horace Mann Educators in a report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $46.75.

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.

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