AlphaQuest LLC Takes $1.07 Million Position in Horace Mann Educators Corporation $HMN

Key Points

• AlphaQuest LLC has acquired a new position in Horace Mann Educators Corporation, purchasing 25,056 shares valued at approximately $1.07 million.
• Horace Mann Educators reported a quarterly earnings per share of $1.06, significantly surpassing analysts' estimates of $0.61, while also experiencing a year-over-year revenue increase of 6.1%.
• The company has authorized a $50.00 million share repurchase program, indicating confidence in its stock valuation, as it plans to buy back up to 3% of its shares.

AlphaQuest LLC bought a new stake in shares of Horace Mann Educators Corporation (NYSE:HMN - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 25,056 shares of the insurance provider's stock, valued at approximately $1,071,000. AlphaQuest LLC owned about 0.06% of Horace Mann Educators as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of HMN. Renaissance Technologies LLC grew its stake in shares of Horace Mann Educators by 7.0% during the fourth quarter. Renaissance Technologies LLC now owns 22,900 shares of the insurance provider's stock valued at $898,000 after buying an additional 1,500 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Horace Mann Educators during the fourth quarter valued at approximately $1,121,000. Barclays PLC grew its stake in shares of Horace Mann Educators by 25.3% during the fourth quarter. Barclays PLC now owns 87,704 shares of the insurance provider's stock valued at $3,441,000 after buying an additional 17,692 shares during the last quarter. Mariner LLC grew its stake in shares of Horace Mann Educators by 23.3% during the fourth quarter. Mariner LLC now owns 12,597 shares of the insurance provider's stock valued at $494,000 after buying an additional 2,384 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Horace Mann Educators by 5.1% during the fourth quarter. First Trust Advisors LP now owns 89,724 shares of the insurance provider's stock valued at $3,520,000 after buying an additional 4,326 shares during the last quarter. Institutional investors own 99.28% of the company's stock.

Horace Mann Educators Stock Up 1.3%

Shares of NYSE:HMN opened at $46.0160 on Friday. Horace Mann Educators Corporation has a 52-week low of $33.00 and a 52-week high of $46.31. The stock has a market cap of $1.87 billion, a P/E ratio of 13.61 and a beta of 0.27. The business's 50 day moving average is $42.50 and its 200 day moving average is $42.01. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.40.

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

Horace Mann Educators announced that its board has authorized a share repurchase program on Tuesday, May 13th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the insurance provider to reacquire up to 3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Raymond James Financial reissued a "strong-buy" rating on shares of Horace Mann Educators in a research note on Thursday, May 15th. Piper Sandler increased their price objective on Horace Mann Educators from $44.00 to $45.00 and gave the stock a "neutral" rating in a research note on Thursday, July 3rd. Wall Street Zen cut Horace Mann Educators from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, BMO Capital Markets set a $48.00 price objective on Horace Mann Educators and gave the stock an "outperform" rating in a research note on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $46.75.

Insiders Place Their Bets

In other Horace Mann Educators news, EVP Bret A. Conklin sold 4,760 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $42.90, for a total transaction of $204,204.00. Following the completion of the sale, the executive vice president owned 58,587 shares in the company, valued at $2,513,382.30. This represents a 7.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marita Zuraitis sold 5,000 shares of the company's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $42.28, for a total value of $211,400.00. Following the sale, the chief executive officer owned 302,155 shares of the company's stock, valued at approximately $12,775,113.40. This represents a 1.63% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,198 shares of company stock valued at $2,210,975. 4.00% of the stock is owned by company insiders.

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.

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