Nuveen LLC Takes Position in Horace Mann Educators Corporation $HMN

Key Points

• Nuveen LLC acquired a new stake in Horace Mann Educators Corporation, purchasing 119,102 shares valued at approximately $5.09 million, reflecting a growing interest from institutional investors in this insurance provider.
• Notable changes in institutional holdings include GAMMA Investing LLC increasing its stake by 7,143.4%, indicating a significant shift in investment strategies toward Horace Mann Educators.
• The company's recent quarterly earnings report showed $1.06 EPS, surpassing estimates, alongside a 6.1% year-over-year revenue increase, showing positive growth trends despite challenges.

Nuveen LLC bought a new stake in shares of Horace Mann Educators Corporation (NYSE:HMN - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 119,102 shares of the insurance provider's stock, valued at approximately $5,089,000. Nuveen LLC owned about 0.29% of Horace Mann Educators at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in shares of Horace Mann Educators by 69.5% during the first 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 last quarter. US Bancorp DE raised its holdings in shares of Horace Mann Educators by 2,693.3% during the first quarter. US Bancorp DE now owns 4,190 shares of the insurance provider's stock valued at $179,000 after buying an additional 4,040 shares during the last quarter. FourThought Financial Partners LLC bought a new stake in shares of Horace Mann Educators during the first quarter valued at approximately $218,000. Assenagon Asset Management S.A. bought a new stake in shares of Horace Mann Educators during the first quarter valued at approximately $275,000. Finally, EP Wealth Advisors LLC bought a new stake in shares of Horace Mann Educators during the fourth quarter valued at approximately $255,000. 99.28% of the stock is owned by institutional investors.

Insider Activity 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 sale, the executive vice president directly owned 58,587 shares of the company's stock, valued at $2,513,382.30. This represents a 7.51% decrease in their ownership of the stock. The transaction 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 stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $45.94, for a total transaction of $160,790.00. Following the sale, the general counsel directly owned 22,092 shares of the company's stock, valued at approximately $1,014,906.48. This represents a 13.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,498 shares of company stock valued at $1,278,068 over the last ninety days. Insiders own 4.00% of the company's stock.

Analysts Set New Price Targets

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

Horace Mann Educators Price Performance

Shares of Horace Mann Educators stock traded up $0.16 on Monday, hitting $45.94. The company had a trading volume of 220,831 shares, compared to its average volume of 203,231. The business has a 50-day simple moving average of $42.85 and a 200-day simple moving average of $42.16. 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 $1.87 billion, a PE ratio of 13.59 and a beta of 0.27. Horace Mann Educators Corporation has a 52 week low of $33.00 and a 52 week high of $46.31.

Horace Mann Educators (NYSE:HMN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.45. The business had revenue of $302.60 million during the quarter, compared to analysts' expectations of $425.35 million. Horace Mann Educators had a net margin of 8.49% and a return on equity of 14.23%. The business's revenue was up 6.1% on a year-over-year basis. During the same period last year, the firm posted $0.20 earnings per share. Research analysts expect that Horace Mann Educators Corporation will post 3.87 EPS for the current fiscal year.

Horace Mann Educators announced that its board has approved a stock repurchase plan on Tuesday, May 13th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the insurance provider to purchase up to 3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board of directors believes its shares are undervalued.

About Horace Mann Educators

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.