Horace Mann Educators Corporation $HMN Shares Sold by Deutsche Bank AG

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 lowered its holdings in shares of Horace Mann Educators Corporation (NYSE:HMN - Free Report) by 46.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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.

Other hedge funds have also recently added to or reduced their stakes in the company. Sterling Capital Management LLC raised its stake in 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 valued at $51,000 after acquiring an additional 1,153 shares in the last quarter. GAMMA Investing LLC raised its stake in Horace Mann Educators by 69.5% during the 1st quarter. GAMMA Investing LLC now owns 2,697 shares of the insurance provider's stock valued at $115,000 after acquiring an additional 1,106 shares in the last quarter. US Bancorp DE raised its stake 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 buying 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. Finally, EP Wealth Advisors LLC bought a new stake in shares of Horace Mann Educators in the 4th quarter worth $255,000. Institutional investors own 99.28% of the company's stock.

Horace Mann Educators Stock Up 0.6%

Shares of Horace Mann Educators stock opened at $45.3510 on Thursday. The stock's fifty day moving average is $42.39 and its 200-day moving average is $41.88. The firm has a market capitalization of $1.85 billion, a PE ratio of 13.42 and a beta of 0.27. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.40. Horace Mann Educators Corporation has a 12-month low of $33.00 and a 12-month high of $45.68.

Horace Mann Educators (NYSE:HMN - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.45. Horace Mann Educators had a return on equity of 14.23% and a net margin of 8.49%.The business had revenue of $302.60 million for the quarter, compared to the consensus estimate of $425.35 million. During the same quarter in the previous year, the company posted $0.20 earnings per share. Horace Mann Educators's revenue for the quarter was up 6.1% compared to the same quarter last year. Equities analysts anticipate that Horace Mann Educators Corporation will post 3.87 earnings per share for the current year.

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

Wall Street Analysts Forecast Growth

HMN has been the topic of a number of research reports. 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. Piper Sandler boosted 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 reissued a "strong-buy" rating on shares of Horace Mann Educators in a research note on Thursday, May 15th. Finally, Wall Street Zen downgraded Horace Mann Educators from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $46.75.

Insider Transactions at Horace Mann Educators

In other news, EVP Bret A. Conklin sold 15,472 shares of the company's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $43.52, for a total transaction of $673,341.44. Following the completion of the sale, the executive vice president owned 55,792 shares in the company, valued at approximately $2,428,067.84. This represents a 21.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Marita Zuraitis sold 5,000 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $43.24, for a total value of $216,200.00. Following the sale, the chief executive officer owned 310,451 shares of the company's stock, valued at approximately $13,423,901.24. This trade represents a 1.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,198 shares of company stock worth $2,210,975 in the last 90 days. Corporate insiders own 4.00% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.