Connor Clark & Lunn Investment Management Ltd. Purchases 23,818 Shares of Horace Mann Educators Corporation $HMN

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its holdings in Horace Mann Educators Corporation by 107.1%, owning a total of 46,052 shares valued at approximately $1.97 million.
• Horace Mann Educators reported earnings of $1.06 per share for the last quarter, surpassing the consensus estimate by $0.45, while its revenue was noted to be up 6.1% year over year.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Horace Mann Educators, with a price target averaging $46.75.

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Horace Mann Educators Corporation (NYSE:HMN - Free Report) by 107.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 46,052 shares of the insurance provider's stock after acquiring an additional 23,818 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.11% of Horace Mann Educators worth $1,968,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Dimensional Fund Advisors LP lifted its holdings in Horace Mann Educators by 1.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,659,695 shares of the insurance provider's stock worth $104,340,000 after acquiring an additional 47,074 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Horace Mann Educators by 183.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,162,264 shares of the insurance provider's stock worth $84,827,000 after acquiring an additional 1,400,210 shares during the period. Northern Trust Corp lifted its holdings in Horace Mann Educators by 3.3% during the fourth quarter. Northern Trust Corp now owns 450,908 shares of the insurance provider's stock worth $17,689,000 after acquiring an additional 14,543 shares during the period. Principal Financial Group Inc. increased its position in Horace Mann Educators by 2.5% in the first quarter. Principal Financial Group Inc. now owns 240,695 shares of the insurance provider's stock worth $10,285,000 after buying an additional 5,978 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Horace Mann Educators by 51.8% in the fourth quarter. JPMorgan Chase & Co. now owns 159,470 shares of the insurance provider's stock worth $6,256,000 after buying an additional 54,443 shares during the last quarter. 99.28% of the stock is currently owned by institutional investors.

Horace Mann Educators Stock Performance

Shares of NYSE HMN traded up $0.36 during mid-day trading on Tuesday, hitting $45.00. The company had a trading volume of 21,719 shares, compared to its average volume of 250,002. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 13.32 and a beta of 0.27. Horace Mann Educators Corporation has a 1 year low of $33.00 and a 1 year high of $45.36. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.40. The stock's 50-day moving average price is $42.29 and its 200-day moving average price is $41.84.

Horace Mann Educators (NYSE:HMN - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.06 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $302.60 million during the quarter, compared to analysts' expectations of $425.35 million. During the same period in the previous year, the business earned $0.20 earnings per share. The firm's quarterly revenue was up 6.1% compared to the same quarter last year. On average, sell-side analysts forecast that Horace Mann Educators Corporation will post 3.87 earnings per share for the current year.

Horace Mann Educators announced that its Board of Directors has initiated a stock buyback program on Tuesday, May 13th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the insurance provider to reacquire up to 3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

Insider Activity

In related news, EVP Bret A. Conklin sold 15,472 shares of the business'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 transaction, the executive vice president directly owned 55,792 shares in the company, valued at $2,428,067.84. The trade was a 21.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Marita Zuraitis sold 5,000 shares of Horace Mann Educators 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 directly 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. Over the last 90 days, insiders have sold 51,198 shares of company stock valued at $2,210,975. 3.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. BMO Capital Markets set a $48.00 target price on Horace Mann Educators and gave the stock 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 research report on Thursday, July 3rd. Wall Street Zen downgraded Horace Mann Educators from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Raymond James Financial reissued a "strong-buy" rating on shares of Horace Mann Educators in a research report on Thursday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $46.75.

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.