Horace Mann Educators Co. (NYSE:HMN) Shares Sold by Millennium Management LLC

Millennium Management LLC trimmed its holdings in shares of Horace Mann Educators Co. (NYSE:HMN - Free Report) by 74.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its position in Horace Mann Educators by 183.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,162,264 shares of the insurance provider's stock worth $84,827,000 after acquiring an additional 1,400,210 shares during the period. Franklin Resources Inc. raised its position in shares of Horace Mann Educators by 17.7% during the 4th quarter. Franklin Resources Inc. now owns 3,463,931 shares of the insurance provider's stock worth $135,890,000 after purchasing an additional 521,437 shares during the last quarter. American Century Companies Inc. boosted its holdings in Horace Mann Educators by 203.5% in the 4th quarter. American Century Companies Inc. now owns 329,964 shares of the insurance provider's stock worth $12,944,000 after buying an additional 221,233 shares during the last quarter. Norges Bank purchased a new stake in shares of Horace Mann Educators during the fourth quarter worth approximately $4,209,000. Finally, Brandywine Global Investment Management LLC acquired a new position in Horace Mann Educators in the 4th quarter valued at $3,252,000. Hedge funds and other institutional investors own 99.28% of the company's stock.

Insider Buying and Selling at Horace Mann Educators

In related news, EVP Bret A. Conklin sold 4,760 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $42.90, for a total transaction of $204,204.00. Following the completion of the transaction, the executive vice president now owns 58,587 shares of the company's stock, valued at approximately $2,513,382.30. This trade represents a 7.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Victor Fetter purchased 3,500 shares of the firm's stock in a transaction on Tuesday, May 20th. The shares were purchased at an average price of $44.03 per share, for a total transaction of $154,105.00. Following the completion of the purchase, the director now directly owns 14,655 shares of the company's stock, valued at $645,259.65. This represents a 31.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 54,014 shares of company stock worth $2,328,368 over the last quarter. 4.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on HMN. Wall Street Zen raised shares of Horace Mann Educators from a "buy" rating to a "strong-buy" rating in a research note on Friday, June 6th. Raymond James restated a "strong-buy" rating on shares of Horace Mann Educators in a research report on Thursday, May 15th. Three analysts have rated the stock with a hold rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $46.00.

Horace Mann Educators Trading Up 0.3%

Shares of HMN traded up $0.11 during midday trading on Thursday, reaching $42.87. The company had a trading volume of 22,614 shares, compared to its average volume of 250,597. The firm has a 50 day simple moving average of $41.82 and a 200-day simple moving average of $40.90. The company has a quick ratio of 0.09, a current ratio of 0.10 and a debt-to-equity ratio of 0.42. The stock has a market cap of $1.75 billion, a PE ratio of 17.29 and a beta of 0.28. Horace Mann Educators Co. has a 1-year low of $31.81 and a 1-year high of $44.44.

Horace Mann Educators (NYSE:HMN - Get Free Report) last issued its earnings results on Tuesday, May 6th. The insurance provider reported $1.07 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.19. Horace Mann Educators had a net margin of 6.44% and a return on equity of 10.58%. The company had revenue of $416.40 million for the quarter, compared to the consensus estimate of $421.40 million. During the same period in the previous year, the firm earned $0.62 earnings per share. Horace Mann Educators's quarterly revenue was up 7.9% compared to the same quarter last year. Research analysts forecast that Horace Mann Educators Co. will post 3.87 EPS for the current fiscal year.

Horace Mann Educators declared that its Board of Directors has authorized a share repurchase plan on Tuesday, May 13th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the insurance provider to buy up to 3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Horace Mann Educators Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.40 annualized dividend and a yield of 3.27%. Horace Mann Educators's dividend payout ratio (DPR) is 50.72%.

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.