Invesco Ltd. Has $23.01 Million Position in Horace Mann Educators Corporation $HMN

Key Points

• Invesco Ltd. reduced its stake in Horace Mann Educators Corporation by 10.6%, owning approximately $23 million worth of shares after selling 63,635 shares in the first quarter.
• Horace Mann Educators reported an earnings per share (EPS) of $1.06, surpassing expectations of $0.61, while quarterly revenue reached $302.60 million, falling short of forecasts.
• The company's Board of Directors initiated a $50 million stock buyback program, indicating a belief that the stock is undervalued.

Invesco Ltd. lowered its stake in Horace Mann Educators Corporation (NYSE:HMN - Free Report) by 10.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 538,402 shares of the insurance provider's stock after selling 63,635 shares during the quarter. Invesco Ltd. owned about 1.32% of Horace Mann Educators worth $23,006,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. PNC Financial Services Group Inc. lifted its stake in Horace Mann Educators by 4.0% in the first quarter. PNC Financial Services Group Inc. now owns 8,478 shares of the insurance provider's stock valued at $362,000 after buying an additional 325 shares in the last quarter. Natixis Advisors LLC lifted its stake in Horace Mann Educators by 1.7% in the first quarter. Natixis Advisors LLC now owns 22,275 shares of the insurance provider's stock valued at $952,000 after buying an additional 370 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Horace Mann Educators by 1.3% in the first quarter. Nisa Investment Advisors LLC now owns 29,824 shares of the insurance provider's stock valued at $1,274,000 after buying an additional 380 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Horace Mann Educators by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,385 shares of the insurance provider's stock valued at $917,000 after buying an additional 810 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its stake in Horace Mann Educators by 4.2% in the fourth quarter. MetLife Investment Management LLC now owns 25,051 shares of the insurance provider's stock valued at $983,000 after buying an additional 1,020 shares in the last quarter. Institutional investors own 99.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on HMN shares. BMO Capital Markets set a $48.00 price objective on shares of Horace Mann Educators and gave the company an "outperform" rating in a report on Monday, July 28th. Wall Street Zen downgraded shares of Horace Mann Educators from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. Raymond James Financial reiterated a "strong-buy" rating on shares of Horace Mann Educators in a report on Thursday, May 15th. Finally, Piper Sandler lifted their price objective on shares of Horace Mann Educators from $44.00 to $45.00 and gave the company a "neutral" rating in a report on Thursday, July 3rd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $46.75.

Insider Buying and Selling

In related news, EVP Bret A. Conklin sold 15,472 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $43.52, for a total transaction of $673,341.44. Following the transaction, the executive vice president directly owned 55,792 shares in the company, valued at approximately $2,428,067.84. The trade was a 21.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Donald M. Carley sold 3,500 shares of the business's stock in a transaction 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 transaction, the general counsel owned 22,092 shares in the company, valued at approximately $1,014,906.48. The trade was a 13.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,698 shares of company stock worth $2,371,765. Insiders own 3.80% of the company's stock.

Horace Mann Educators Stock Down 0.1%

Shares of NYSE HMN traded down $0.03 during midday trading on Tuesday, reaching $45.18. The company's stock had a trading volume of 200,943 shares, compared to its average volume of 216,223. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 13.37 and a beta of 0.27. Horace Mann Educators Corporation has a fifty-two week low of $33.00 and a fifty-two week high of $46.31. The stock has a 50 day simple moving average of $42.63 and a 200-day simple moving average of $42.07. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.40.

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

Horace Mann Educators declared that its Board of Directors has authorized a share buyback program on Tuesday, May 13th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the insurance provider to repurchase up to 3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

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.