Horace Mann Educators Corporation $HMN Shares Sold by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. reduced its stake in Horace Mann Educators Corporation by selling 6,106 shares, holding approximately 5.29% of the company, valued at $92.13 million.
• Horace Mann's stock received a consensus rating of "Moderate Buy" from analysts, with an average price target of $46.75.
• The company's recent quarterly earnings surpassed expectations, with reported earnings of $1.06 per share against an estimate of $0.61, highlighting a year-over-year revenue increase of 6.1%.

Price T Rowe Associates Inc. MD decreased its stake in Horace Mann Educators Corporation (NYSE:HMN - Free Report) by 0.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,156,158 shares of the insurance provider's stock after selling 6,106 shares during the period. Price T Rowe Associates Inc. MD owned 5.29% of Horace Mann Educators worth $92,134,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. American Century Companies Inc. boosted its stake in Horace Mann Educators by 66.7% in the first quarter. American Century Companies Inc. now owns 550,138 shares of the insurance provider's stock valued at $23,507,000 after acquiring an additional 220,174 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Horace Mann Educators in the 1st quarter valued at about $5,089,000. GAMMA Investing LLC boosted its position in shares of Horace Mann Educators by 7,143.4% in the 1st quarter. GAMMA Investing LLC now owns 115,243 shares of the insurance provider's stock valued at $49,240,000 after purchasing an additional 113,652 shares during the period. Deutsche Bank AG boosted its position in shares of Horace Mann Educators by 293.0% in the 4th 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, Dimensional Fund Advisors LP boosted its position in shares of Horace Mann Educators by 1.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,659,695 shares of the insurance provider's stock valued at $104,340,000 after purchasing an additional 47,074 shares during the period. Institutional investors and hedge funds own 99.28% of the company's stock.

Insider Transactions at Horace Mann Educators

In other news, CEO Marita Zuraitis sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $42.28, for a total value of $211,400.00. Following the completion of the sale, the chief executive officer directly owned 302,155 shares of the company's stock, valued at $12,775,113.40. This trade represents a 1.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Donald M. Carley sold 3,500 shares of the firm's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $45.94, for a total value of $160,790.00. Following the completion of the sale, the general counsel directly 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 disclosure for this sale can be found here. In the last quarter, insiders sold 34,498 shares of company stock worth $1,494,268. Company insiders own 3.80% of the company's stock.

Horace Mann Educators Stock Performance

Shares of NYSE HMN traded up $0.16 during mid-day trading on Friday, hitting $45.94. 220,831 shares of the company were exchanged, compared to its average volume of 203,231. 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 50 day simple moving average of $42.85 and a 200-day simple moving average of $42.16. Horace Mann Educators Corporation has a 1-year low of $33.00 and a 1-year high of $46.31. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 13.59 and a beta of 0.27.

Horace Mann Educators (NYSE:HMN - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.45. Horace Mann Educators had a return on equity of 14.23% and a net margin of 8.49%.The firm had revenue of $302.60 million during the quarter, compared to the consensus estimate of $425.35 million. During the same period last year, the company earned $0.20 earnings per share. The company's revenue for the quarter was up 6.1% on a year-over-year basis. On average, sell-side analysts forecast 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 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 shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. BMO Capital Markets set a $48.00 price objective on Horace Mann Educators and gave the company an "outperform" rating in a report on Monday, July 28th. Piper Sandler increased their price objective 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 reiterated a "strong-buy" rating on shares of Horace Mann Educators in a research note on Thursday, May 15th. Finally, Wall Street Zen cut shares of Horace Mann Educators from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Horace Mann Educators has a consensus rating of "Moderate Buy" and a consensus price target of $46.75.

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.