Harbor Capital Advisors Inc. Acquires 13,782 Shares of Horace Mann Educators Co. (NYSE:HMN)

Harbor Capital Advisors Inc. increased its position in Horace Mann Educators Co. (NYSE:HMN - Free Report) by 27.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 64,655 shares of the insurance provider's stock after purchasing an additional 13,782 shares during the period. Harbor Capital Advisors Inc. owned 0.16% of Horace Mann Educators worth $2,763,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Smartleaf Asset Management LLC raised its stake in shares of Horace Mann Educators by 389.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 779 shares of the insurance provider's stock worth $31,000 after buying an additional 620 shares in the last quarter. Sterling Capital Management LLC lifted its stake in shares of Horace Mann Educators by 806.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,296 shares of the insurance provider's stock worth $51,000 after purchasing an additional 1,153 shares during the period. Venturi Wealth Management LLC purchased a new position in shares of Horace Mann Educators during the 4th quarter worth $92,000. Pictet Asset Management Holding SA purchased a new position in shares of Horace Mann Educators during the 4th quarter worth $244,000. Finally, EP Wealth Advisors LLC purchased a new position in shares of Horace Mann Educators in the 4th quarter worth $255,000. 99.28% of the stock is owned by hedge funds and other institutional investors.

Horace Mann Educators Stock Performance

Shares of HMN traded down $0.47 during trading hours on Friday, reaching $42.66. 207,307 shares of the company traded hands, compared to its average volume of 250,437. Horace Mann Educators Co. has a 1-year low of $31.81 and a 1-year high of $44.44. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.09 and a current ratio of 0.10. The stock has a market cap of $1.74 billion, a P/E ratio of 17.20 and a beta of 0.28. The stock's fifty day moving average is $41.94 and its 200 day moving average is $40.91.

Horace Mann Educators (NYSE:HMN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The insurance provider reported $1.07 earnings per share for the quarter, beating analysts' consensus estimates of $0.88 by $0.19. Horace Mann Educators had a net margin of 6.44% and a return on equity of 10.58%. The business had revenue of $416.40 million during the quarter, compared to analyst estimates of $421.40 million. During the same quarter last year, the business posted $0.62 earnings per share. Horace Mann Educators's revenue for the quarter was up 7.9% compared to the same quarter last year. Equities research analysts anticipate that Horace Mann Educators Co. will post 3.87 earnings per share for the current fiscal year.

Horace Mann Educators declared that its board has authorized a share repurchase plan on Tuesday, May 13th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the insurance provider to purchase up to 3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Horace Mann Educators Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.40 annualized dividend and a yield of 3.28%. Horace Mann Educators's dividend payout ratio (DPR) is presently 50.72%.

Insider Activity

In other news, Director Victor Fetter acquired 3,500 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was bought at an average cost of $44.03 per share, for a total transaction of $154,105.00. Following the completion of the transaction, the director now directly owns 14,655 shares in the company, valued at $645,259.65. This represents a 31.38% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Beverley J. Mcclure sold 2,816 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $42.86, for a total transaction of $120,693.76. Following the completion of the sale, the director now owns 13,643 shares of the company's stock, valued at $584,738.98. The trade was a 17.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 54,014 shares of company stock valued at $2,328,368. 4.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on HMN shares. Wall Street Zen raised Horace Mann Educators from a "buy" rating to a "strong-buy" rating in a research report on Friday, June 6th. Raymond James reiterated a "strong-buy" rating on shares of Horace Mann Educators in a research note on Thursday, May 15th. Three analysts have rated the stock with a hold rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Horace Mann Educators has a consensus rating of "Moderate Buy" and an average target price of $46.00.

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.