Public Sector Pension Investment Board Has $5.52 Million Holdings in Horace Mann Educators Corporation $HMN

Key Points

• The Public Sector Pension Investment Board increased its stake in Horace Mann Educators Corporation by 27.3%, now owning 129,258 shares valued at approximately $5.52 million.
• Horace Mann Educators reported earnings of $1.06 EPS for the latest quarter, exceeding analysts' estimate of $0.61, while also experiencing a 6.1% increase in quarterly revenue year-over-year.
• The company has authorized a stock repurchase program allowing for the buyback of up to $50 million in shares, indicating management's belief that the stock is undervalued.

Public Sector Pension Investment Board lifted its position in Horace Mann Educators Corporation (NYSE:HMN - Free Report) by 27.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 129,258 shares of the insurance provider's stock after acquiring an additional 27,712 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.32% of Horace Mann Educators worth $5,523,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Sterling Capital Management LLC lifted its position in shares of Horace Mann Educators by 806.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,296 shares of the insurance provider's stock valued at $51,000 after acquiring an additional 1,153 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Horace Mann Educators by 69.5% in the 1st quarter. GAMMA Investing LLC now owns 2,697 shares of the insurance provider's stock valued at $115,000 after acquiring an additional 1,106 shares in the last quarter. US Bancorp DE lifted its position in shares of 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 valued at $179,000 after acquiring an additional 4,040 shares in the last quarter. FourThought Financial Partners LLC purchased a new stake in shares of Horace Mann Educators in the 1st quarter valued at approximately $218,000. Finally, EP Wealth Advisors LLC purchased a new stake in shares of Horace Mann Educators in the 4th quarter valued at approximately $255,000. Hedge funds and other institutional investors own 99.28% of the company's stock.

Insiders Place Their Bets

In other news, CEO Marita Zuraitis sold 5,000 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $43.24, for a total transaction of $216,200.00. Following the transaction, the chief executive officer owned 310,451 shares in the company, valued at approximately $13,423,901.24. This trade represents a 1.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Bret A. Conklin sold 15,472 shares of the firm's 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 transaction, the executive vice president owned 55,792 shares in the company, valued at $2,428,067.84. This represents a 21.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 51,198 shares of company stock worth $2,210,975 in the last 90 days. 4.00% of the stock is owned by insiders.

Horace Mann Educators Stock Up 1.4%

Shares of Horace Mann Educators stock traded up $0.62 during midday trading on Friday, reaching $46.03. 23,433 shares of the company's stock traded hands, compared to its average volume of 247,601. The company has a market cap of $1.87 billion, a price-to-earnings ratio of 13.62 and a beta of 0.27. The company's 50 day simple moving average is $42.43 and its 200 day simple moving average is $41.93. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.09 and a current ratio of 0.09. Horace Mann Educators Corporation has a 52 week low of $33.00 and a 52 week high of $46.12.

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

Horace Mann Educators declared that its board has approved a share repurchase program on Tuesday, May 13th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the insurance provider to purchase up to 3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

HMN has been the subject of several research analyst reports. Raymond James Financial restated a "strong-buy" rating on shares of Horace Mann Educators in a research report on Thursday, May 15th. BMO Capital Markets set a $48.00 target price on shares of Horace Mann Educators and gave the stock an "outperform" rating in a research report on Monday, July 28th. Piper Sandler increased their target price 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. Finally, Wall Street Zen downgraded 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 given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Horace Mann Educators has a consensus rating of "Moderate Buy" and a consensus target price of $46.75.

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.