Price T Rowe Associates Inc. MD Sells 6,106 Shares of Horace Mann Educators Corporation $HMN

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

Several other institutional investors have also recently bought and sold shares of HMN. GAMMA Investing LLC grew its position 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 worth $115,000 after purchasing an additional 1,106 shares during the last quarter. US Bancorp DE grew its position 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 worth $179,000 after purchasing an additional 4,040 shares during the last quarter. FourThought Financial Partners LLC acquired a new stake in Horace Mann Educators in the 1st quarter worth $218,000. Assenagon Asset Management S.A. acquired a new stake in Horace Mann Educators in the 1st quarter worth $275,000. Finally, EP Wealth Advisors LLC acquired a new stake in Horace Mann Educators in the 4th quarter worth $255,000. Institutional investors own 99.28% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on HMN shares. BMO Capital Markets set a $48.00 price target on shares of Horace Mann Educators and gave the stock an "outperform" rating in a research report on Monday, July 28th. Piper Sandler raised their price target on shares of Horace Mann Educators from $44.00 to $45.00 and gave the stock a "neutral" rating in a research report on Thursday, July 3rd. Raymond James Financial restated a "strong-buy" rating on shares of Horace Mann Educators in a research report on Thursday, May 15th. Finally, Wall Street Zen lowered shares of Horace Mann Educators from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. One 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 company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $46.75.

Insider Transactions at Horace Mann Educators

In other Horace Mann Educators news, CEO Marita Zuraitis sold 5,000 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $43.24, for a total value of $216,200.00. Following the transaction, the chief executive officer directly owned 310,451 shares in the company, valued at $13,423,901.24. The trade was a 1.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Bret A. Conklin sold 15,472 shares of the business's stock in a transaction dated 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 transaction, the executive vice president owned 55,792 shares in the company, valued at approximately $2,428,067.84. This trade represents a 21.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,198 shares of company stock worth $2,210,975. Company insiders own 4.00% of the company's stock.

Horace Mann Educators Price Performance

Shares of Horace Mann Educators stock opened at $45.2040 on Tuesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.09 and a current ratio of 0.09. The firm's 50-day simple moving average is $42.56 and its 200-day simple moving average is $42.05. Horace Mann Educators Corporation has a twelve month low of $33.00 and a twelve month high of $46.31. The firm has a market cap of $1.84 billion, a P/E ratio of 13.37 and a beta of 0.27.

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

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

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.

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