Meritage Portfolio Management Purchases New Shares in Horace Mann Educators Corporation $HMN

Key Points

• Meritage Portfolio Management has acquired a new stake in Horace Mann Educators Corporation, purchasing 60,761 shares valued at approximately $2.61 million, increasing its ownership to 0.15% of the company.
• CEO Marita Zuraitis sold 5,000 shares of the company's stock, resulting in a 1.67% decrease in her total holdings, while insider sales in the last 90 days totaled 18,500 shares worth $825,040.
• Horace Mann Educators recently declared a quarterly dividend of $0.35 per share, which represents an annualized dividend yield of 3.2% with a payout ratio of 41.42%.

Meritage Portfolio Management purchased a new stake in Horace Mann Educators Corporation (NYSE:HMN - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 60,761 shares of the insurance provider's stock, valued at approximately $2,611,000. Meritage Portfolio Management owned 0.15% of Horace Mann Educators at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in Horace Mann Educators by 69.5% in the 1st quarter. GAMMA Investing LLC now owns 2,697 shares of the insurance provider's stock valued at $115,000 after purchasing an additional 1,106 shares during the period. Financiere des Professionnels Fonds d investissement inc. bought a new stake in Horace Mann Educators in the 2nd quarter valued at $137,000. US Bancorp DE boosted its stake in 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 during the period. Wealth Enhancement Advisory Services LLC bought a new stake in Horace Mann Educators in the 2nd quarter valued at $210,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in Horace Mann Educators in the 2nd quarter valued at $217,000. 99.28% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Marita Zuraitis sold 5,000 shares of the company's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $44.81, for a total transaction of $224,050.00. Following the sale, the chief executive officer owned 293,788 shares in the company, valued at $13,164,640.28. This represents a 1.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Donald M. Carley sold 3,500 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $45.94, for a total value of $160,790.00. Following the sale, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,500 shares of company stock worth $825,040. 3.80% of the stock is owned by corporate insiders.

Horace Mann Educators Price Performance

Shares of HMN opened at $44.05 on Monday. Horace Mann Educators Corporation has a 12-month low of $34.84 and a 12-month high of $47.81. The business has a 50-day simple moving average of $45.23 and a two-hundred day simple moving average of $43.06. 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 stock has a market cap of $1.79 billion, a PE ratio of 13.03 and a beta of 0.21.

Horace Mann Educators (NYSE:HMN - Get Free Report) last issued its earnings results on Monday, April 3rd. The insurance provider reported $1.18 earnings per share (EPS) for the quarter. Horace Mann Educators had a return on equity of 14.23% and a net margin of 8.49%.The business had revenue of $330.60 million during the quarter. Analysts anticipate that Horace Mann Educators Corporation will post 3.87 earnings per share for the current fiscal year.

Horace Mann Educators Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were paid a $0.35 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $1.40 annualized dividend and a dividend yield of 3.2%. Horace Mann Educators's dividend payout ratio is presently 41.42%.

Analyst Upgrades and Downgrades

HMN has been the subject of several recent research reports. Piper Sandler boosted 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. Weiss Ratings reiterated a "buy (b-)" rating on shares of Horace Mann Educators in a research report on Wednesday, October 8th. Wall Street Zen downgraded Horace Mann Educators from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, BMO Capital Markets set a $48.00 target price on Horace Mann Educators and gave the company an "outperform" rating in a research report on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $46.75.

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.

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