Jump Financial LLC Sells 6,300 Shares of Horace Mann Educators Corporation $HMN

Key Points

• Jump Financial LLC has reduced its holdings in Horace Mann Educators Corporation by 47.9%, now owning 6,861 shares valued at approximately $293,000.
• Horace Mann Educators reported $1.06 earnings per share for the last quarter, exceeding analysts' estimates significantly while having revenue of $302.60 million, lower than the forecast.
• The company's Board of Directors has initiated a $50 million stock repurchase plan, suggesting management believes the stock is undervalued, and announced a quarterly dividend of $0.35 per share.

Jump Financial LLC lessened its holdings in Horace Mann Educators Corporation (NYSE:HMN - Free Report) by 47.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 6,861 shares of the insurance provider's stock after selling 6,300 shares during the period. Jump Financial LLC's holdings in Horace Mann Educators were worth $293,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in shares of Horace Mann Educators by 69.5% in the first quarter. GAMMA Investing LLC now owns 2,697 shares of the insurance provider's stock valued at $115,000 after purchasing an additional 1,106 shares during the period. US Bancorp DE raised 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 valued at $179,000 after purchasing an additional 4,040 shares during the period. FourThought Financial Partners LLC acquired a new position in Horace Mann Educators during the first quarter valued at approximately $218,000. Assenagon Asset Management S.A. bought a new stake in shares of Horace Mann Educators during the first quarter worth about $275,000. Finally, EP Wealth Advisors LLC bought a new stake in Horace Mann Educators in the 4th quarter worth $255,000. 99.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HMN has been the subject of several research analyst reports. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Horace Mann Educators in a research 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 research report on Monday, July 28th. Piper Sandler raised their target price on Horace Mann Educators from $44.00 to $45.00 and gave the stock a "neutral" rating in a report on Thursday, July 3rd. Finally, Wall Street Zen downgraded Horace Mann Educators from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. 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 company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $46.75.

Insiders Place Their Bets

In other news, CEO Marita Zuraitis sold 5,000 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $42.28, for a total value of $211,400.00. Following the completion of the transaction, the chief executive officer owned 302,155 shares of the company's stock, valued at $12,775,113.40. The trade was a 1.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Donald M. Carley sold 3,500 shares of the company's stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,500 shares of company stock worth $815,340. Corporate insiders own 3.80% of the company's stock.

Horace Mann Educators Price Performance

HMN stock traded down $0.11 during trading on Monday, reaching $46.17. 60,265 shares of the company were exchanged, compared to its average volume of 245,622. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.09 and a current ratio of 0.09. Horace Mann Educators Corporation has a 52-week low of $33.00 and a 52-week high of $47.31. The stock's 50 day moving average price is $43.20 and its 200 day moving average price is $42.35. The company has a market cap of $1.88 billion, a P/E ratio of 13.66 and a beta of 0.27.

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

Horace Mann Educators Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 16th. Horace Mann Educators's dividend payout ratio is presently 41.42%.

Horace Mann Educators announced that its Board of Directors has authorized a share repurchase plan on Tuesday, May 13th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the insurance provider to buy up to 3% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are 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.