Deutsche Bank AG Trims Stock Position in Horace Mann Educators Corporation $HMN

Key Points

• Deutsche Bank AG has reduced its stake in Horace Mann Educators Corporation by 46.5%, now holding approximately 49,224 shares, valued at $2.1 million.
• Horace Mann recently reported earnings of $1.06 per share, significantly beating analysts' estimates of $0.61, and its revenue increased by 6.1% compared to the previous year.
• The company has initiated a stock buyback program, authorizing the repurchase of up to $50 million in shares, indicating confidence in the company's valuation.

Deutsche Bank AG lessened its holdings in shares of Horace Mann Educators Corporation (NYSE:HMN - Free Report) by 46.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,224 shares of the insurance provider's stock after selling 42,811 shares during the period. Deutsche Bank AG owned approximately 0.12% of Horace Mann Educators worth $2,103,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HMN. Sterling Capital Management LLC grew its holdings in Horace Mann Educators by 806.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,296 shares of the insurance provider's stock worth $51,000 after acquiring an additional 1,153 shares during the period. GAMMA Investing LLC grew its holdings 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 worth $115,000 after acquiring an additional 1,106 shares during the period. US Bancorp DE grew its holdings in Horace Mann Educators by 2,693.3% during the first quarter. US Bancorp DE now owns 4,190 shares of the insurance provider's stock worth $179,000 after acquiring an additional 4,040 shares during the period. FourThought Financial Partners LLC acquired a new position in Horace Mann Educators during the first quarter worth $218,000. Finally, EP Wealth Advisors LLC acquired a new position in Horace Mann Educators during the fourth quarter worth $255,000. Institutional investors and hedge funds own 99.28% of the company's stock.

Insider Activity at Horace Mann Educators

In related news, CEO Marita Zuraitis sold 5,000 shares of the stock in a transaction on Friday, August 1st. The stock was 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 of the company's stock, valued at $12,775,113.40. This trade represents a 1.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Donald M. Carley sold 3,500 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $45.94, for a total value of $160,790.00. Following the sale, the general counsel directly owned 22,092 shares in the company, valued at approximately $1,014,906.48. The trade was a 13.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,698 shares of company stock valued at $2,371,765 over the last quarter. Insiders own 3.80% of the company's stock.

Wall Street Analysts Forecast Growth

HMN has been the topic of a number of recent analyst reports. Piper Sandler upped their price objective on Horace Mann Educators from $44.00 to $45.00 and gave the stock a "neutral" rating in a report on Thursday, July 3rd. BMO Capital Markets set a $48.00 price objective on Horace Mann Educators and gave the stock an "outperform" rating in a report on Monday, July 28th. Wall Street Zen lowered Horace Mann Educators from a "strong-buy" rating to a "buy" rating in a 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 equities research 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. Based on data from MarketBeat, Horace Mann Educators has an average rating of "Moderate Buy" and a consensus price target of $46.75.

Horace Mann Educators Price Performance

Shares of HMN traded down $0.03 during trading hours on Tuesday, reaching $45.18. 200,943 shares of the company traded hands, compared to its average volume of 216,223. 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 stock has a market capitalization of $1.84 billion, a PE ratio of 13.37 and a beta of 0.27. Horace Mann Educators Corporation has a fifty-two week low of $33.00 and a fifty-two week high of $46.31. The stock has a fifty day simple moving average of $42.63 and a 200 day simple moving average of $42.07.

Horace Mann Educators (NYSE:HMN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.45. The business had revenue of $302.60 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the company earned $0.20 earnings per share. As a group, research analysts predict that Horace Mann Educators Corporation will post 3.87 EPS for the current fiscal year.

Horace Mann Educators declared that its board has authorized a stock buyback program on Tuesday, May 13th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the insurance provider to purchase up to 3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management 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.