AlphaQuest LLC Acquires New Stake 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 position in Horace Mann Educators Corporation (NYSE:HMN - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 25,056 shares of the insurance provider's stock, valued at approximately $1,071,000. AlphaQuest LLC owned approximately 0.06% of Horace Mann Educators as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in Horace Mann Educators in the first quarter worth about $693,000. Assenagon Asset Management S.A. acquired a new position in shares of Horace Mann Educators during the first quarter valued at about $275,000. Victory Capital Management Inc. increased its holdings in shares of Horace Mann Educators by 55.1% during the first quarter. Victory Capital Management Inc. now owns 33,644 shares of the insurance provider's stock valued at $1,438,000 after acquiring an additional 11,954 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of Horace Mann Educators by 41.4% during the fourth quarter. Jane Street Group LLC now owns 22,148 shares of the insurance provider's stock valued at $869,000 after acquiring an additional 6,483 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Horace Mann Educators by 69.5% during the first quarter. GAMMA Investing LLC now owns 2,697 shares of the insurance provider's stock valued at $115,000 after acquiring an additional 1,106 shares in the last quarter. 99.28% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Marita Zuraitis sold 5,000 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $43.24, for a total value of $216,200.00. Following the completion of the transaction, the chief executive officer directly owned 310,451 shares of the company's stock, valued at approximately $13,423,901.24. This represents a 1.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Bret A. Conklin sold 6,486 shares of the stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $43.55, for a total value of $282,465.30. Following the completion of the transaction, the executive vice president directly owned 57,026 shares of the company's stock, valued at approximately $2,483,482.30. This represents a 10.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,498 shares of company stock worth $1,494,268 in the last quarter. Corporate insiders own 4.00% of the company's stock.

Horace Mann Educators Stock Performance

Horace Mann Educators stock traded up $0.02 during mid-day trading on Friday, hitting $45.80. The company had a trading volume of 37,046 shares, compared to its average volume of 246,314. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.40. Horace Mann Educators Corporation has a 12-month low of $33.00 and a 12-month high of $46.31. The company's fifty day moving average is $42.77 and its 200-day moving average is $42.12. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 13.55 and a beta of 0.27.

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

Horace Mann Educators declared that its board has approved a stock buyback plan on Tuesday, May 13th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the insurance provider to purchase up to 3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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

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.