Free Trial

Bank of New York Mellon Corp Reduces Holdings in Horace Mann Educators Corporation (NYSE:HMN)

Horace Mann Educators logo with Finance background

Bank of New York Mellon Corp lessened its position in shares of Horace Mann Educators Corporation (NYSE:HMN - Free Report) by 3.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 451,801 shares of the insurance provider's stock after selling 18,454 shares during the period. Bank of New York Mellon Corp owned approximately 1.10% of Horace Mann Educators worth $19,305,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Victory Capital Management Inc. raised its position in Horace Mann Educators by 1.4% during the fourth quarter. Victory Capital Management Inc. now owns 21,690 shares of the insurance provider's stock valued at $851,000 after purchasing an additional 305 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Horace Mann Educators during the fourth quarter worth $428,000. Raymond James Financial Inc. acquired a new position in shares of Horace Mann Educators during the fourth quarter worth $1,121,000. Intech Investment Management LLC increased its holdings in shares of Horace Mann Educators by 31.1% during the fourth quarter. Intech Investment Management LLC now owns 29,833 shares of the insurance provider's stock worth $1,170,000 after buying an additional 7,085 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in shares of Horace Mann Educators by 69.2% during the fourth quarter. Teacher Retirement System of Texas now owns 45,822 shares of the insurance provider's stock worth $1,798,000 after buying an additional 18,744 shares in the last quarter. Institutional investors own 99.28% of the company's stock.

Insider Activity

In other news, Director Victor Fetter bought 3,500 shares of Horace Mann Educators stock in a transaction on Tuesday, May 20th. The shares were bought at an average cost of $44.03 per share, with a total value of $154,105.00. Following the completion of the purchase, the director directly owned 14,655 shares of the company's stock, valued at approximately $645,259.65. This trade represents a 31.38% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Marita Zuraitis sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $42.87, for a total transaction of $214,350.00. Following the sale, the chief executive officer directly owned 307,155 shares in the company, valued at approximately $13,167,734.85. The trade was a 1.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 51,198 shares of company stock worth $2,206,575 over the last 90 days. 3.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

HMN has been the topic of several recent research reports. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Horace Mann Educators in a research report on Thursday, May 15th. Piper Sandler boosted their price target on shares of Horace Mann Educators from $44.00 to $45.00 and gave the company a "neutral" rating in a research report on Thursday, July 3rd. Finally, Wall Street Zen raised shares of Horace Mann Educators from a "buy" rating to a "strong-buy" rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $46.33.

View Our Latest Report on Horace Mann Educators

Horace Mann Educators Stock Performance

HMN stock traded up $0.72 on Tuesday, hitting $41.68. The company had a trading volume of 268,028 shares, compared to its average volume of 250,810. Horace Mann Educators Corporation has a 12-month low of $31.95 and a 12-month high of $44.44. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.41. The stock's 50-day simple moving average is $42.47 and its 200 day simple moving average is $41.17. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 15.10 and a beta of 0.27.

Horace Mann Educators (NYSE:HMN - Get Free Report) last released its earnings results on Tuesday, May 6th. The insurance provider reported $1.07 earnings per share for the quarter, beating analysts' consensus estimates of $0.88 by $0.19. The company had revenue of $416.40 million for the quarter, compared to analysts' expectations of $421.40 million. Horace Mann Educators had a net margin of 7.04% and a return on equity of 11.86%. Horace Mann Educators's revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.62 EPS. As a group, equities research analysts expect that Horace Mann Educators Corporation will post 3.87 earnings per share for the current fiscal year.

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

Horace Mann Educators Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a $0.35 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $1.40 annualized dividend and a dividend yield of 3.36%. Horace Mann Educators's dividend payout ratio (DPR) is 50.72%.

About Horace Mann Educators

(Free Report)

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.

Featured Articles

Institutional Ownership by Quarter for Horace Mann Educators (NYSE:HMN)

Should You Invest $1,000 in Horace Mann Educators Right Now?

Before you consider Horace Mann Educators, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Horace Mann Educators wasn't on the list.

While Horace Mann Educators currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Ten Starter Stocks For Beginners to Buy Now Cover

Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

3 Small-Cap Biotech Stocks With Catalysts Too Big to Ignore
AI Stocks Are Printing Money — These 3 Are Just Getting Started
Why Drone Stocks Are Skyrocketing Right Now!

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines