Bank of America Corp DE Sells 44,831 Shares of Horace Mann Educators Co. (NYSE:HMN)

Bank of America Corp DE decreased its stake in shares of Horace Mann Educators Co. (NYSE:HMN - Free Report) by 5.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 731,310 shares of the insurance provider's stock after selling 44,831 shares during the period. Bank of America Corp DE owned about 1.79% of Horace Mann Educators worth $28,689,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its position in shares of Horace Mann Educators by 389.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 779 shares of the insurance provider's stock valued at $31,000 after buying an additional 620 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in Horace Mann Educators by 806.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,296 shares of the insurance provider's stock worth $51,000 after acquiring an additional 1,153 shares during the period. Venturi Wealth Management LLC bought a new stake in Horace Mann Educators during the fourth quarter worth $92,000. KBC Group NV lifted its holdings in Horace Mann Educators by 42.3% during the fourth quarter. KBC Group NV now owns 2,378 shares of the insurance provider's stock worth $93,000 after acquiring an additional 707 shares during the period. Finally, Integrated Investment Consultants LLC bought a new stake in Horace Mann Educators during the fourth quarter worth $216,000. Hedge funds and other institutional investors own 99.28% of the company's stock.

Horace Mann Educators Stock Performance

Shares of NYSE HMN traded down $0.11 during trading on Friday, reaching $42.93. 239,680 shares of the stock traded hands, compared to its average volume of 251,159. Horace Mann Educators Co. has a 52-week low of $31.81 and a 52-week high of $44.44. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.10 and a quick ratio of 0.09. The company has a 50-day moving average of $41.59 and a 200-day moving average of $40.72. The stock has a market capitalization of $1.75 billion, a P/E ratio of 17.31 and a beta of 0.28.

Horace Mann Educators (NYSE:HMN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The insurance provider reported $1.07 EPS for the quarter, beating analysts' consensus estimates of $0.88 by $0.19. Horace Mann Educators had a return on equity of 10.58% and a net margin of 6.44%. The firm had revenue of $416.40 million for 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. Analysts forecast that Horace Mann Educators Co. will post 3.87 EPS for the current fiscal year.

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

Horace Mann Educators Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $0.35 per share. The ex-dividend date is Monday, June 16th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.26%. Horace Mann Educators's dividend payout ratio is presently 50.72%.

Insider Activity

In related news, Director Victor Fetter acquired 3,500 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were bought at an average cost of $44.03 per share, for a total transaction of $154,105.00. Following the purchase, the director now owns 14,655 shares in the company, valued at $645,259.65. This trade represents a 31.38% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marita Zuraitis sold 5,000 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $43.09, for a total value of $215,450.00. Following the sale, the chief executive officer now owns 320,451 shares in the company, valued at approximately $13,808,233.59. The trade was a 1.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,816 shares of company stock valued at $543,144 in the last 90 days. Insiders own 4.00% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on HMN shares. Raymond James reiterated a "strong-buy" rating on shares of Horace Mann Educators in a report on Thursday, May 15th. JMP Securities reiterated a "market perform" rating on shares of Horace Mann Educators in a report on Friday, February 7th. Keefe, Bruyette & Woods lifted their price target on Horace Mann Educators from $44.00 to $45.00 and gave the stock a "market perform" rating in a report on Tuesday, February 11th. Wall Street Zen upgraded Horace Mann Educators from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. Finally, Piper Sandler lifted their price target on Horace Mann Educators from $42.00 to $44.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Horace Mann Educators has a consensus rating of "Moderate Buy" and a consensus target price of $46.00.

Horace Mann Educators 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.