567,019 Shares in Horace Mann Educators Corporation $HMN Acquired by Bank of America Corp DE

Key Points

• Bank of America acquired 567,019 shares of Horace Mann Educators in the second quarter, valued at approximately $29.3 million and representing about 1.4% of the company. Institutional investors and hedge funds collectively own 99.28% of HMN.
• Analysts maintain a strongly bullish view, with an average rating of “Strong Buy” and a consensus price target of $59.00. HMN recently exceeded quarterly earnings expectations, reporting $1.17 in EPS versus the $0.79 consensus.
• Horace Mann declared a quarterly dividend of $0.36 per share, equivalent to a $1.44 annual payout and a 3.0% yield. The stock recently traded at $47.24, while company insiders have sold 27,791 shares worth approximately $1.44 million over the past 90 days.

Bank of America Corp DE acquired a new position in shares of Horace Mann Educators Corporation (NYSE:HMN - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 567,019 shares of the insurance provider's stock, valued at approximately $29,287,000. Bank of America Corp DE owned about 1.40% of Horace Mann Educators as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HMN. BlackRock Inc. purchased a new stake in shares of Horace Mann Educators in the second quarter valued at about $304,006,000. Dimensional Fund Advisors LP raised its position in shares of Horace Mann Educators by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,184,648 shares of the insurance provider's stock worth $93,243,000 after purchasing an additional 12,556 shares during the last quarter. Wasatch Advisors LP acquired a new position in shares of Horace Mann Educators during the 2nd quarter worth approximately $72,363,000. Bank of New York Mellon Corp purchased a new stake in Horace Mann Educators in the 2nd quarter valued at approximately $20,061,000. Finally, Principal Financial Group Inc. lifted its stake in Horace Mann Educators by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 257,744 shares of the insurance provider's stock valued at $11,001,000 after buying an additional 5,998 shares in the last quarter. 99.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Horace Mann Educators Trading Down 2.0%

Shares of HMN stock opened at $47.24 on Wednesday. The firm's 50-day simple moving average is $51.06 and its 200-day simple moving average is $48.01. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.08 and a quick ratio of 0.08. Horace Mann Educators Corporation has a 1-year low of $41.29 and a 1-year high of $55.56. The firm has a market cap of $1.91 billion, a P/E ratio of 11.04 and a beta of 0.08.

Horace Mann Educators (NYSE:HMN - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.79 by $0.38. The firm had revenue of $443.50 million during the quarter, compared to the consensus estimate of $321.70 million. Horace Mann Educators had a return on equity of 14.08% and a net margin of 10.15%.The firm's quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.06 earnings per share. Horace Mann Educators has set its FY 2026 guidance at 4.600-4.900 EPS. As a group, equities analysts forecast that Horace Mann Educators Corporation will post 4.78 EPS for the current year.

Horace Mann Educators Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 3.0%. The ex-dividend date is Wednesday, September 16th. Horace Mann Educators's payout ratio is currently 33.64%.

Insider Transactions at Horace Mann Educators

In related news, CEO Marita Zuraitis sold 7,500 shares of the stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $50.99, for a total value of $382,425.00. Following the completion of the sale, the chief executive officer directly owned 299,629 shares in the company, valued at approximately $15,278,082.71. This represents a 2.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Perry G. Hines sold 3,237 shares of the firm's stock in a transaction dated 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 transaction, the director directly owned 25,118 shares in the company, valued at $1,311,661.96. This trade represents a 11.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 27,791 shares of company stock valued at $1,443,719 over the last 90 days. Corporate insiders own 3.60% of the company's stock.

Horace Mann Educators Profile

Horace Mann Educators Corporation NYSE: HMN is an insurance and financial services company focused on serving educators and other employees of public schools. Founded in 1945 by educators in Springfield, Illinois, the company has built its business around the insurance and financial needs of the education community.

Through its operating subsidiaries, Horace Mann provides personal lines insurance products, including automobile and homeowners insurance, as well as life insurance and supplemental insurance.

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