Hotchkis & Wiley Capital Management LLC Sells 145,470 Shares of 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 trimmed its position in Horace Mann Educators Corporation (NYSE:HMN - Free Report) by 14.5% during the first quarter, according to its most recent 13F filing with the 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 about 2.11% of Horace Mann Educators worth $36,775,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its position in shares of Horace Mann Educators by 1.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,659,695 shares of the insurance provider's stock worth $104,340,000 after purchasing an additional 47,074 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Horace Mann Educators by 183.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,162,264 shares of the insurance provider's stock worth $84,827,000 after purchasing an additional 1,400,210 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Horace Mann Educators by 66.7% in the 1st quarter. American Century Companies Inc. now owns 550,138 shares of the insurance provider's stock worth $23,507,000 after purchasing an additional 220,174 shares during the last quarter. Northern Trust Corp boosted its position in shares of Horace Mann Educators by 0.5% in the 1st quarter. Northern Trust Corp now owns 453,155 shares of the insurance provider's stock worth $19,363,000 after purchasing an additional 2,247 shares during the last quarter. Finally, Bragg Financial Advisors Inc raised its stake in Horace Mann Educators by 13.7% during the 1st quarter. Bragg Financial Advisors Inc now owns 450,709 shares of the insurance provider's stock worth $19,259,000 after buying an additional 54,208 shares during the period. 99.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, General Counsel Donald M. Carley sold 3,500 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $45.94, for a total transaction of $160,790.00. Following the sale, the general counsel 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 filing with the SEC, which is available through the SEC website. Also, CEO Marita Zuraitis sold 5,000 shares of the firm's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $42.28, for a total value of $211,400.00. Following the completion of the sale, the chief executive officer directly owned 302,155 shares in the company, valued at approximately $12,775,113.40. This represents a 1.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,698 shares of company stock valued at $2,371,765 over the last 90 days. 3.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on HMN shares. Wall Street Zen downgraded Horace Mann Educators from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Horace Mann Educators in a research note on Thursday, May 15th. 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. Finally, BMO Capital Markets set a $48.00 price target on Horace Mann Educators and gave the company an "outperform" rating in a research note on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $46.75.

Horace Mann Educators Stock Performance

NYSE HMN traded down $0.03 during trading on Tuesday, reaching $45.18. 200,943 shares of the company's stock were exchanged, compared to its average volume of 216,223. The business has a 50 day moving average price of $42.56 and a 200-day moving average price of $42.05. The stock has a market capitalization of $1.84 billion, a P/E ratio of 10.02 and a beta of 0.27. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.09 and a quick ratio of 0.09. Horace Mann Educators Corporation has a fifty-two week low of $33.00 and a fifty-two week high of $46.31.

Horace Mann Educators (NYSE:HMN - Get Free Report) last posted its earnings results on Wednesday, August 6th. The insurance provider reported $1.06 EPS for the quarter, beating the consensus estimate of $0.61 by $0.45. The company had revenue of $302.60 million for the quarter, compared to the consensus estimate 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 for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.20 earnings per share. Sell-side analysts forecast that Horace Mann Educators Corporation will post 3.87 earnings per share for the current fiscal year.

Horace Mann Educators declared that its Board of Directors has approved a share buyback 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 stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its shares are 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.