Dimensional Fund Advisors LP Lowers Stock Holdings in 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 decreased its holdings in Horace Mann Educators Corporation (NYSE:HMN - Free Report) by 3.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of HMN. GAMMA Investing LLC increased its holdings in shares of Horace Mann Educators by 69.5% in the 1st quarter. GAMMA Investing LLC now owns 2,697 shares of the insurance provider's stock worth $115,000 after purchasing an additional 1,106 shares in the last quarter. US Bancorp DE increased its holdings in shares of Horace Mann Educators by 2,693.3% in the 1st quarter. US Bancorp DE now owns 4,190 shares of the insurance provider's stock worth $179,000 after purchasing an additional 4,040 shares in the last quarter. FourThought Financial Partners LLC bought a new stake in shares of Horace Mann Educators in the 1st quarter worth $218,000. EP Wealth Advisors LLC bought a new stake in shares of Horace Mann Educators in the fourth quarter worth $255,000. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Horace Mann Educators in the first quarter worth $275,000. Institutional investors own 99.28% of the company's stock.

Insider Buying and Selling

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 value of $160,790.00. Following the completion of the sale, the general counsel directly owned 22,092 shares in the company, valued at $1,014,906.48. This represents a 13.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Bret A. Conklin sold 4,760 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $42.90, for a total value of $204,204.00. Following the completion of the sale, the executive vice president owned 58,587 shares of the company's stock, 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. Over the last three months, insiders have sold 34,498 shares of company stock valued at $1,494,268. Corporate insiders own 4.00% of the company's stock.

Analysts Set New Price Targets

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

Horace Mann Educators Trading Down 0.8%

NYSE:HMN traded down $0.38 during midday trading on Thursday, hitting $45.13. The stock had a trading volume of 12,903 shares, compared to its average volume of 246,058. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 13.36 and a beta of 0.27. The stock has a 50-day moving average of $42.69 and a 200 day moving average of $42.09. Horace Mann Educators Corporation has a one year low of $33.00 and a one year high of $46.31.

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 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 return on equity of 14.23% and a net margin of 8.49%.The business's revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.20 EPS. As a group, sell-side analysts forecast 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 repurchase program on Tuesday, May 13th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the insurance provider to purchase up to 3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its stock is 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.