Millennium Management LLC lessened its holdings in Horace Mann Educators Co. (NYSE:HMN - Free Report) by 74.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,417 shares of the insurance provider's stock after selling 21,771 shares during the quarter. Millennium Management LLC's holdings in Horace Mann Educators were worth $291,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. raised its position in Horace Mann Educators by 5.0% during the fourth quarter. Principal Financial Group Inc. now owns 234,717 shares of the insurance provider's stock worth $9,208,000 after acquiring an additional 11,205 shares during the period. Barclays PLC boosted its stake in Horace Mann Educators by 336.2% during the third quarter. Barclays PLC now owns 70,012 shares of the insurance provider's stock worth $2,446,000 after buying an additional 53,961 shares during the last quarter. Jane Street Group LLC increased its position in 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 purchasing an additional 6,483 shares during the last quarter. Norges Bank purchased a new stake in shares of Horace Mann Educators during the 4th quarter valued at approximately $4,209,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Horace Mann Educators by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 566,880 shares of the insurance provider's stock worth $22,239,000 after purchasing an additional 8,570 shares during the period. Hedge funds and other institutional investors own 99.28% of the company's stock.
Analysts Set New Price Targets
A number of analysts have issued reports on the stock. Wall Street Zen upgraded shares of Horace Mann Educators from a "buy" rating to a "strong-buy" rating in a research note on Friday, June 6th. Raymond James reiterated a "strong-buy" rating on shares of Horace Mann Educators in a research note on Thursday, May 15th. Three analysts have rated the stock with a hold rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $46.00.
Get Our Latest Research Report on Horace Mann Educators
Horace Mann Educators Stock Performance
Horace Mann Educators stock traded down $0.47 during midday trading on Friday, reaching $42.66. 207,307 shares of the stock traded hands, compared to its average volume of 250,437. Horace Mann Educators Co. has a fifty-two week low of $31.81 and a fifty-two week high of $44.44. The company has a current ratio of 0.10, a quick ratio of 0.09 and a debt-to-equity ratio of 0.42. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of 17.20 and a beta of 0.28. The firm has a fifty day moving average price of $41.94 and a two-hundred day moving average price of $40.92.
Horace Mann Educators (NYSE:HMN - Get Free Report) last announced its earnings results on Tuesday, May 6th. The insurance provider reported $1.07 EPS for the quarter, beating the consensus estimate of $0.88 by $0.19. The business had revenue of $416.40 million during the quarter, compared to the consensus estimate of $421.40 million. Horace Mann Educators had a return on equity of 10.58% and a net margin of 6.44%. Horace Mann Educators's revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.62 earnings per share. On average, equities research analysts forecast that Horace Mann Educators Co. will post 3.87 earnings per share for the current year.
Horace Mann Educators Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $0.35 dividend. The ex-dividend date is Monday, June 16th. This represents a $1.40 annualized dividend and a yield of 3.28%. Horace Mann Educators's dividend payout ratio (DPR) is presently 50.72%.
Horace Mann Educators announced that its Board of Directors has initiated a share buyback program on Tuesday, May 13th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the insurance provider to reacquire up to 3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its stock is undervalued.
Insider Buying and Selling
In related news, Director Beverley J. Mcclure sold 2,816 shares of Horace Mann Educators stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $42.86, for a total value of $120,693.76. Following the sale, the director now owns 13,643 shares of the company's stock, valued at approximately $584,738.98. This trade represents a 17.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Bret A. Conklin sold 15,472 shares of Horace Mann Educators 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 completion of the sale, the executive vice president now owns 55,792 shares in the company, valued at $2,428,067.84. The trade was a 21.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,014 shares of company stock valued at $2,328,368. Insiders own 4.00% of the company's stock.
About Horace Mann Educators
(
Free Report)
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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