Horace Mann Educators Corporation $HMN Shares Sold by Cramer Rosenthal Mcglynn LLC

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 lessened its position in shares of Horace Mann Educators Corporation (NYSE:HMN - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 2.0% of Cramer Rosenthal Mcglynn LLC's holdings, making the stock its 12th biggest position. Cramer Rosenthal Mcglynn LLC owned 1.63% of Horace Mann Educators worth $28,318,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of HMN. GAMMA Investing LLC raised its stake in shares of Horace Mann Educators by 69.5% during the 1st quarter. GAMMA Investing LLC now owns 2,697 shares of the insurance provider's stock worth $115,000 after acquiring an additional 1,106 shares in the last quarter. US Bancorp DE increased its stake in Horace Mann Educators by 2,693.3% during the 1st quarter. US Bancorp DE now owns 4,190 shares of the insurance provider's stock valued at $179,000 after purchasing an additional 4,040 shares in the last quarter. FourThought Financial Partners LLC acquired a new position in Horace Mann Educators during the 1st quarter valued at approximately $218,000. EP Wealth Advisors LLC acquired a new position in Horace Mann Educators during the 4th quarter valued at approximately $255,000. Finally, Assenagon Asset Management S.A. acquired a new position in Horace Mann Educators during the 1st quarter valued at approximately $275,000. Institutional investors own 99.28% of the company's stock.

Insider Activity at Horace Mann Educators

In related news, EVP Bret A. Conklin sold 4,760 shares of the firm'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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marita Zuraitis sold 5,000 shares of the firm's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $42.28, for a total transaction of $211,400.00. Following the sale, the chief executive officer owned 302,155 shares in the company, 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. Over the last quarter, insiders have sold 34,498 shares of company stock worth $1,494,268. 4.00% of the stock is owned by company insiders.

Analyst Ratings Changes

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

Horace Mann Educators Stock Performance

Shares of NYSE:HMN traded up $0.16 during midday trading on Friday, reaching $45.94. The company's stock had a trading volume of 220,831 shares, compared to its average volume of 247,287. The firm has a market capitalization of $1.87 billion, a PE ratio of 13.59 and a beta of 0.27. Horace Mann Educators Corporation has a twelve month low of $33.00 and a twelve month high of $46.31. The stock has a fifty day moving average of $42.77 and a 200 day moving average of $42.12. 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 released its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.06 EPS for the quarter, beating the consensus estimate of $0.61 by $0.45. The company had revenue of $302.60 million for the quarter, compared to analyst estimates 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 was up 6.1% on a year-over-year basis. During the same quarter last year, the business earned $0.20 earnings per share. On average, equities analysts expect 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 initiated a stock buyback plan on Tuesday, May 13th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to reacquire up to 3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

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.