Cramer Rosenthal Mcglynn LLC Sells 6,021 Shares of Horace Mann Educators Corporation $HMN

Key Points

• Cramer Rosenthal Mcglynn LLC reduced its stake in Horace Mann Educators by 0.9%, holding 662,722 shares after selling 6,021 shares during the first quarter.
• Multiple hedge funds increased their positions in Horace Mann Educators, with PNC Financial Services Group raising its holdings by 4.0% to 8,478 shares valued at $362,000.
• Horace Mann Educators reported earnings of $1.06 EPS for the quarter, significantly surpassing the consensus estimate of $0.61, and announced a stock repurchase program authorizing $50 million in buybacks.

Cramer Rosenthal Mcglynn LLC reduced its stake in Horace Mann Educators Corporation (NYSE:HMN - Free Report) by 0.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 662,722 shares of the insurance provider's stock after selling 6,021 shares during the quarter. Horace Mann Educators comprises approximately 2.0% of Cramer Rosenthal Mcglynn LLC's portfolio, making the stock its 12th biggest holding. Cramer Rosenthal Mcglynn LLC owned approximately 1.63% of Horace Mann Educators worth $28,318,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Dimensional Fund Advisors LP raised its stake in Horace Mann Educators by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,659,695 shares of the insurance provider's stock valued at $104,340,000 after purchasing an additional 47,074 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Horace Mann Educators by 183.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,162,264 shares of the insurance provider's stock worth $84,827,000 after acquiring an additional 1,400,210 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Horace Mann Educators by 66.7% during the first quarter. American Century Companies Inc. now owns 550,138 shares of the insurance provider's stock worth $23,507,000 after acquiring an additional 220,174 shares in the last quarter. Northern Trust Corp raised its stake in shares of Horace Mann Educators by 0.5% during the first quarter. Northern Trust Corp now owns 453,155 shares of the insurance provider's stock worth $19,363,000 after acquiring an additional 2,247 shares in the last quarter. Finally, Bragg Financial Advisors Inc raised its stake in shares of Horace Mann Educators by 13.7% during the first quarter. Bragg Financial Advisors Inc now owns 450,709 shares of the insurance provider's stock worth $19,259,000 after acquiring an additional 54,208 shares in the last quarter. 99.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Horace Mann Educators

In other news, General Counsel Donald M. Carley sold 3,500 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $45.94, for a total transaction of $160,790.00. Following the sale, the general counsel owned 22,092 shares in the company, valued at approximately $1,014,906.48. The trade was a 13.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Bret A. Conklin sold 4,760 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $42.90, for a total transaction of $204,204.00. Following the sale, the executive vice president owned 58,587 shares in the company, valued at approximately $2,513,382.30. This trade represents a 7.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,498 shares of company stock worth $1,494,268 over the last quarter. Corporate insiders own 4.00% of the company's stock.

Analyst Upgrades and Downgrades

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

Horace Mann Educators Trading Up 0.4%

NYSE:HMN traded up $0.16 during trading hours on Friday, hitting $45.94. The company had a trading volume of 220,831 shares, compared to its average volume of 208,474. The company has a market capitalization of $1.87 billion, a PE ratio of 13.59 and a beta of 0.27. The stock has a 50-day moving average price of $42.85 and a 200 day moving average price of $42.15. Horace Mann Educators Corporation has a 52 week low of $33.00 and a 52 week high of $46.31. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.09 and a quick ratio of 0.09.

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

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

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.