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

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.

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

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.