Dimensional Fund Advisors LP Sells 95,967 Shares of Horace Mann Educators Corporation $HMN

Key Points

• Dimensional Fund Advisors LP reduced its ownership in Horace Mann Educators Corporation by 3.6%, selling 95,967 shares, and now holds approximately 2.56 million shares valued at $109.5 million.
• Horace Mann reported an earnings per share (EPS) of $1.06 for the last quarter, significantly exceeding the consensus estimate of $0.61, while its revenue of $302.6 million was under analyst expectations of $425.35 million.
• The company has initiated a $50 million share repurchase program, indicating management's belief that the stock is undervalued, allowing them to buy back up to 3% of its shares.

Dimensional Fund Advisors LP lowered its position in Horace Mann Educators Corporation (NYSE:HMN - Free Report) by 3.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,563,728 shares of the insurance provider's stock after selling 95,967 shares during the period. Dimensional Fund Advisors LP owned about 6.29% of Horace Mann Educators worth $109,547,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in Horace Mann Educators during the first quarter valued at $693,000. Assenagon Asset Management S.A. purchased a new position in Horace Mann Educators during the first quarter valued at $275,000. Victory Capital Management Inc. lifted its position in 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 purchasing an additional 11,954 shares in the last quarter. Jane Street Group LLC lifted its position in 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 purchasing an additional 6,483 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in 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 purchasing an additional 1,106 shares in the last quarter. 99.28% of the stock is currently owned by hedge funds and other institutional investors.

Horace Mann Educators Price Performance

Shares of NYSE:HMN traded up $0.45 during mid-day trading on Wednesday, reaching $45.60. The stock had a trading volume of 69,734 shares, compared to its average volume of 246,782. The business's 50 day moving average price is $42.63 and its 200 day moving average price is $42.07. Horace Mann Educators Corporation has a 1 year low of $33.00 and a 1 year high of $46.31. The company has a market cap of $1.86 billion, a P/E ratio of 13.49 and a beta of 0.27. 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 (NYSE:HMN - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.61 by $0.45. The business had revenue of $302.60 million for the quarter, compared to the consensus estimate of $425.35 million. Horace Mann Educators had a return on equity of 14.23% and a net margin of 8.49%.The company's revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 EPS. Research 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 authorized a stock buyback program on Tuesday, May 13th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the insurance provider to purchase up to 3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Transactions at Horace Mann Educators

In other news, General Counsel Donald M. Carley sold 3,500 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $45.94, for a total transaction of $160,790.00. Following the sale, the general counsel directly owned 22,092 shares of the company's stock, valued at $1,014,906.48. This represents a 13.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Bret A. Conklin sold 4,760 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $42.90, for a total value of $204,204.00. Following the sale, the executive vice president directly owned 58,587 shares in the company, valued at $2,513,382.30. This trade represents a 7.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,226 shares of company stock valued at $1,698,423 in the last ninety days. Corporate insiders own 3.80% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on HMN shares. Piper Sandler lifted their target price on Horace Mann Educators from $44.00 to $45.00 and gave the company a "neutral" rating in a research report on Thursday, July 3rd. BMO Capital Markets set a $48.00 target price on Horace Mann Educators and gave the company an "outperform" rating in a research report on Monday, July 28th. Wall Street Zen downgraded Horace Mann Educators from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Raymond James Financial restated a "strong-buy" rating on shares of Horace Mann Educators in a research report on Thursday, May 15th. One investment 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 stock. According to MarketBeat.com, Horace Mann Educators has an average rating of "Moderate Buy" and a consensus target price of $46.75.

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.