Jacobs Levy Equity Management Inc. Purchases 43,153 Shares of Horace Mann Educators Corporation $HMN

Key Points

• Jacobs Levy Equity Management Inc. increased its holdings in Horace Mann Educators Corporation by 220.2% in the first quarter, owning 62,752 shares valued at approximately $2.68 million.
• Horace Mann reported earnings of $1.06 per share for the last quarter, exceeding analysts' expectations of $0.61, with a revenue of $302.60 million.
• The company announced a quarterly dividend of $0.35 per share, translating to an annual yield of 3.0%, which will be paid on September 30th.

Jacobs Levy Equity Management Inc. lifted its position in Horace Mann Educators Corporation (NYSE:HMN - Free Report) by 220.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,752 shares of the insurance provider's stock after acquiring an additional 43,153 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.15% of Horace Mann Educators worth $2,681,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Northern Trust Corp grew its position in shares of Horace Mann Educators by 3.3% in the 4th quarter. Northern Trust Corp now owns 450,908 shares of the insurance provider's stock worth $17,689,000 after buying an additional 14,543 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of Horace Mann Educators by 41.4% during the fourth quarter. Jane Street Group LLC now owns 22,148 shares of the insurance provider's stock worth $869,000 after buying an additional 6,483 shares in the last quarter. EP Wealth Advisors LLC purchased a new stake in shares of Horace Mann Educators during the fourth quarter worth $255,000. Deutsche Bank AG grew its holdings in shares of Horace Mann Educators by 293.0% in the fourth quarter. Deutsche Bank AG now owns 92,035 shares of the insurance provider's stock valued at $3,611,000 after purchasing an additional 68,617 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of 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 purchasing an additional 810 shares during the period. Hedge funds and other institutional investors own 99.28% of the company's stock.

Horace Mann Educators Stock Down 0.1%

Horace Mann Educators stock traded down $0.03 during mid-day trading on Friday, hitting $47.54. The company's stock had a trading volume of 215,391 shares, compared to its average volume of 179,688. Horace Mann Educators Corporation has a 52-week low of $33.65 and a 52-week high of $47.81. The firm's 50 day moving average is $43.62 and its 200 day moving average is $42.54. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.09 and a quick ratio of 0.09. The company has a market cap of $1.93 billion, a PE ratio of 14.07 and a beta of 0.27.

Horace Mann Educators (NYSE:HMN - Get Free Report) last posted its quarterly 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 company had revenue of $302.60 million during 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 business's quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the business earned $0.20 EPS. On average, analysts anticipate that Horace Mann Educators Corporation will post 3.87 earnings per share for the current year.

Horace Mann Educators Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, September 16th. Horace Mann Educators's payout ratio is currently 41.42%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. 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 Horace Mann Educators and gave the company an "outperform" rating in a research note on Monday, July 28th. Finally, Piper Sandler lifted their price objective on shares of Horace Mann Educators from $44.00 to $45.00 and gave the stock a "neutral" rating in a report on Thursday, July 3rd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $46.75.

Insider Activity at Horace Mann Educators

In other news, General Counsel Donald M. Carley sold 3,500 shares of Horace Mann Educators 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 approximately $1,014,906.48. This trade represents a 13.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marita Zuraitis sold 5,000 shares of the business's stock in a transaction that occurred 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 sale, the chief executive officer owned 302,155 shares in the company, valued at approximately $12,775,113.40. This represents a 1.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,500 shares of company stock worth $815,340. Company insiders own 4.00% of the company's stock.

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.