HighTower Advisors LLC Trims Stock Position in Horace Mann Educators Corporation $HMN

Key Points

• HighTower Advisors LLC reduced its stake in Horace Mann Educators by 48.3%, ending the first quarter with 7,135 shares valued at approximately $305,000.
• Several other institutional investors, including PNC Financial Services and Natixis Advisors, have increased their positions in Horace Mann Educators during the same period.
• Horace Mann Educators recently reported an earnings per share (EPS) of $1.06 for the latest quarter, significantly above the consensus estimate of $0.61, alongside a 6.1% year-over-year revenue increase.

HighTower Advisors LLC lowered its holdings in shares of Horace Mann Educators Corporation (NYSE:HMN - Free Report) by 48.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,135 shares of the insurance provider's stock after selling 6,659 shares during the quarter. HighTower Advisors LLC's holdings in Horace Mann Educators were worth $305,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. PNC Financial Services Group Inc. increased its position in shares of Horace Mann Educators by 4.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,478 shares of the insurance provider's stock valued at $362,000 after purchasing an additional 325 shares during the last quarter. Natixis Advisors LLC increased its position in shares of Horace Mann Educators by 1.7% during the 1st quarter. Natixis Advisors LLC now owns 22,275 shares of the insurance provider's stock valued at $952,000 after purchasing an additional 370 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Horace Mann Educators by 1.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 29,824 shares of the insurance provider's stock valued at $1,274,000 after purchasing an additional 380 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Horace Mann Educators by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,385 shares of the insurance provider's stock valued at $917,000 after purchasing an additional 810 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its position in shares of Horace Mann Educators by 1.2% during the 4th quarter. Nuveen Asset Management LLC now owns 86,883 shares of the insurance provider's stock valued at $3,408,000 after purchasing an additional 1,022 shares during the last quarter. Hedge funds and other institutional investors own 99.28% of the company's stock.

Analyst Ratings Changes

HMN has been the subject of several research reports. Wall Street Zen lowered shares of Horace Mann Educators from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. Piper Sandler raised their price objective on Horace Mann Educators from $44.00 to $45.00 and gave the stock a "neutral" rating in a research note on Thursday, July 3rd. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Horace Mann Educators in a research note on Thursday, May 15th. Finally, BMO Capital Markets set a $48.00 price objective on Horace Mann Educators and gave the stock an "outperform" rating in a research note on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $46.75.

Horace Mann Educators Stock Up 0.3%

Shares of HMN opened at $46.10 on Wednesday. The business's 50 day moving average is $42.97 and its 200 day moving average is $42.22. The company has a market capitalization of $1.88 billion, a PE ratio of 13.64 and a beta of 0.27. Horace Mann Educators Corporation has a 12-month low of $33.00 and a 12-month high of $46.31. 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 issued 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 company 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 firm's quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the company earned $0.20 EPS. Research analysts expect that Horace Mann Educators Corporation will post 3.87 earnings per share for the current fiscal year.

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

Insider Buying and Selling at Horace Mann Educators

In other Horace Mann Educators news, General Counsel Donald M. Carley sold 3,500 shares of the firm'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 completion of the transaction, the general counsel owned 22,092 shares in the company, valued at $1,014,906.48. This trade represents a 13.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Bret A. Conklin sold 4,760 shares of the firm'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 transaction, the executive vice president owned 58,587 shares of the company's stock, valued at $2,513,382.30. This represents a 7.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,260 shares of company stock worth $790,744 in the last quarter. 3.80% of the stock is owned by corporate insiders.

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.

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