Hotchkis & Wiley Capital Management LLC Trims Stake in Horace Mann Educators Corporation $HMN

Key Points

• Hotchkis & Wiley Capital Management LLC reduced its holdings in Horace Mann Educators Corporation by 14.5%, selling 145,470 shares, and now owns approximately 2.11% of the company valued at $36.8 million.
• Meanwhile, other institutional investors increased their stake, with US Bancorp DE lifting its holdings by 2,693.3% and GAMMA Investing LLC increasing its position by 69.5%.
• Analysts have provided mixed ratings on the stock, with a consensus rating of "Moderate Buy" and an average price target of $46.75, following Piper Sandler's increase in price target to $45.00.

Hotchkis & Wiley Capital Management LLC lessened its holdings in shares of Horace Mann Educators Corporation (NYSE:HMN - Free Report) by 14.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 860,645 shares of the insurance provider's stock after selling 145,470 shares during the period. Hotchkis & Wiley Capital Management LLC owned approximately 2.11% of Horace Mann Educators worth $36,775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings in Horace Mann Educators by 69.5% during the first quarter. GAMMA Investing LLC now owns 2,697 shares of the insurance provider's stock worth $115,000 after buying an additional 1,106 shares in the last quarter. US Bancorp DE increased 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 valued at $179,000 after purchasing an additional 4,040 shares in the last quarter. FourThought Financial Partners LLC purchased a new position in shares of Horace Mann Educators in the 1st quarter valued at about $218,000. EP Wealth Advisors LLC purchased a new position in shares of Horace Mann Educators in the 4th quarter valued at about $255,000. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Horace Mann Educators in the 1st quarter valued at about $275,000. 99.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Horace Mann Educators

In related news, General Counsel Donald M. Carley sold 3,500 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the general counsel directly owned 22,092 shares of the company's stock, valued at $1,014,906.48. This represents a 13.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Marita Zuraitis sold 5,000 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $43.24, for a total transaction of $216,200.00. Following the sale, the chief executive officer owned 310,451 shares of the company's stock, valued at $13,423,901.24. This represents a 1.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,498 shares of company stock valued at $1,494,268 over the last three months. 4.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on HMN shares. Piper Sandler lifted their price target on Horace Mann Educators from $44.00 to $45.00 and gave the company a "neutral" rating in a research note on Thursday, July 3rd. Wall Street Zen cut shares of Horace Mann Educators from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. BMO Capital Markets set a $48.00 price objective on shares of Horace Mann Educators and gave the stock an "outperform" rating in a research report on Monday, July 28th. Finally, Raymond James Financial reiterated a "strong-buy" rating on shares of Horace Mann Educators in a research note on Thursday, May 15th. One research 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 stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $46.75.

Horace Mann Educators Trading Down 0.3%

NYSE:HMN traded down $0.13 during trading hours on Thursday, reaching $45.38. 30,853 shares of the stock were exchanged, compared to its average volume of 246,179. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.40. The business has a 50-day moving average of $42.69 and a two-hundred day moving average of $42.09. Horace Mann Educators Corporation has a twelve month low of $33.00 and a twelve month high of $46.31. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 13.42 and a beta of 0.27.

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

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

Horace Mann Educators 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.