Allspring Global Investments Holdings LLC Sells 12,188 Shares of Horace Mann Educators Corporation (NYSE:HMN)

Allspring Global Investments Holdings LLC cut its position in Horace Mann Educators Corporation (NYSE:HMN - Free Report) by 8.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 138,264 shares of the insurance provider's stock after selling 12,188 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.34% of Horace Mann Educators worth $6,006,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in HMN. Price T Rowe Associates Inc. MD lifted its position in shares of Horace Mann Educators by 183.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,162,264 shares of the insurance provider's stock valued at $84,827,000 after acquiring an additional 1,400,210 shares during the period. Franklin Resources Inc. lifted its position in shares of Horace Mann Educators by 17.7% during the 4th quarter. Franklin Resources Inc. now owns 3,463,931 shares of the insurance provider's stock valued at $135,890,000 after acquiring an additional 521,437 shares during the period. American Century Companies Inc. lifted its position in shares of Horace Mann Educators by 203.5% during the 4th quarter. American Century Companies Inc. now owns 329,964 shares of the insurance provider's stock valued at $12,944,000 after acquiring an additional 221,233 shares during the period. GAMMA Investing LLC lifted its position in shares of Horace Mann Educators by 7,143.4% during the 1st quarter. GAMMA Investing LLC now owns 115,243 shares of the insurance provider's stock valued at $49,240,000 after acquiring an additional 113,652 shares during the period. Finally, Norges Bank bought a new stake in shares of Horace Mann Educators during the 4th quarter valued at $4,209,000. 99.28% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

HMN has been the subject of a number of recent analyst reports. Piper Sandler upped their target price on Horace Mann Educators from $44.00 to $45.00 and gave the company a "neutral" rating in a research report on Thursday, July 3rd. Raymond James Financial restated a "strong-buy" rating on shares of Horace Mann Educators in a research report on Thursday, May 15th. Finally, Wall Street Zen downgraded Horace Mann Educators from a "strong-buy" rating to a "buy" rating in a research report on Saturday, June 21st. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $46.33.

Horace Mann Educators Price Performance

Shares of HMN stock traded down $0.27 on Tuesday, hitting $41.53. 251,067 shares of the company's stock were exchanged, compared to its average volume of 248,789. Horace Mann Educators Corporation has a 12 month low of $31.95 and a 12 month high of $44.44. The company has a 50 day moving average of $42.63 and a 200 day moving average of $41.07. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.09 and a quick ratio of 0.09. The stock has a market cap of $1.69 billion, a P/E ratio of 15.05 and a beta of 0.27.

Horace Mann Educators (NYSE:HMN - Get Free Report) last issued its earnings results on Tuesday, May 6th. The insurance provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.88 by $0.19. Horace Mann Educators had a return on equity of 11.86% and a net margin of 7.04%. The business had revenue of $416.40 million during the quarter, compared to analysts' expectations of $421.40 million. During the same quarter in the prior year, the firm earned $0.62 EPS. The business's revenue for the quarter was up 7.9% compared to the same quarter last year. On average, equities research analysts predict that Horace Mann Educators Corporation will post 3.87 EPS for the current year.

Horace Mann Educators Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were issued a $0.35 dividend. The ex-dividend date was Monday, June 16th. This represents a $1.40 dividend on an annualized basis and a yield of 3.37%. Horace Mann Educators's payout ratio is presently 50.72%.

Horace Mann Educators announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 13th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the insurance provider to buy up to 3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Victor Fetter purchased 3,500 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was bought at an average price of $44.03 per share, with a total value of $154,105.00. Following the completion of the purchase, the director owned 14,655 shares in the company, valued at approximately $645,259.65. This represents a 31.38% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Bret A. Conklin sold 15,472 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $43.52, for a total value of $673,341.44. Following the completion of the sale, the executive vice president directly owned 55,792 shares of the company's stock, valued at approximately $2,428,067.84. The trade was a 21.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 51,198 shares of company stock valued at $2,206,575 in the last 90 days. Corporate insiders own 3.80% of the company's stock.

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.