Horace Mann Educators Corporation (NYSE:HMN) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lessened its holdings in Horace Mann Educators Corporation (NYSE:HMN - Free Report) by 50.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,593 shares of the insurance provider's stock after selling 23,229 shares during the quarter. Teacher Retirement System of Texas owned 0.06% of Horace Mann Educators worth $965,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in shares of Horace Mann Educators in the first quarter valued at about $693,000. Assenagon Asset Management S.A. bought a new stake in shares of Horace Mann Educators during the 1st quarter valued at about $275,000. Jane Street Group LLC boosted its stake in shares of Horace Mann Educators by 41.4% during the 4th quarter. Jane Street Group LLC now owns 22,148 shares of the insurance provider's stock valued at $869,000 after purchasing an additional 6,483 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Horace Mann Educators by 69.5% during the 1st 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 in the last quarter. Finally, Norges Bank bought a new stake in shares of Horace Mann Educators during the 4th quarter valued at about $4,209,000. Hedge funds and other institutional investors own 99.28% of the company's stock.

Wall Street Analysts Forecast Growth

HMN has been the topic of several research reports. Raymond James Financial reissued a "strong-buy" rating on shares of Horace Mann Educators in a research note on Thursday, May 15th. Piper Sandler boosted their price objective on shares of Horace Mann Educators from $44.00 to $45.00 and gave the stock a "neutral" rating in a research note on Thursday, July 3rd. Finally, Wall Street Zen cut shares of Horace Mann Educators from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 21st. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Horace Mann Educators currently has a consensus rating of "Moderate Buy" and a consensus price target of $46.33.

Insider Activity

In other news, Director Victor Fetter bought 3,500 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were purchased at an average cost of $44.03 per share, for a total transaction of $154,105.00. Following the completion of the purchase, the director owned 14,655 shares of the company's stock, valued at approximately $645,259.65. This represents a 31.38% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marita Zuraitis sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $41.40, for a total transaction of $207,000.00. Following the sale, the chief executive officer owned 315,451 shares in the company, valued at $13,059,671.40. The trade was a 1.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 51,198 shares of company stock valued at $2,206,575 in the last three months. 3.80% of the stock is currently owned by corporate insiders.

Horace Mann Educators Trading Down 1.9%

HMN stock traded down $0.79 during trading on Tuesday, hitting $40.19. The company had a trading volume of 245,763 shares, compared to its average volume of 250,844. The firm has a market capitalization of $1.64 billion, a P/E ratio of 14.56 and a beta of 0.27. Horace Mann Educators Corporation has a 52-week low of $31.95 and a 52-week high of $44.44. The company has a 50 day simple moving average of $42.57 and a 200-day simple moving average of $41.10. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.41.

Horace Mann Educators (NYSE:HMN - Get Free Report) last posted its earnings results on Tuesday, May 6th. The insurance provider reported $1.07 EPS for the quarter, beating analysts' consensus estimates of $0.88 by $0.19. The business had revenue of $416.40 million for the quarter, compared to the consensus estimate of $421.40 million. Horace Mann Educators had a net margin of 7.04% and a return on equity of 11.86%. The company's revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.62 EPS. As a group, research analysts forecast that Horace Mann Educators Corporation will post 3.87 earnings per share for the current fiscal year.

Horace Mann Educators Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend was Monday, June 16th. Horace Mann Educators's payout ratio is 50.72%.

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