Horace Mann Educators Corporation (NYSE:HMN) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Horace Mann Educators Corporation has received an average consensus rating of "Moderate Buy", with three firms rating it a hold, one a buy, and one a strong buy.
• The company recently announced a quarterly dividend of $0.35 per share, with an annualized yield of 3.45%, and initiated a $50 million share buyback program.
• Insider trading activity included Director Victor Fetter purchasing 3,500 shares, increasing his position by 31.38%, while EVP Bret A. Conklin sold 15,472 shares, decreasing his stake by 21.71%.

Horace Mann Educators Corporation (NYSE:HMN - Get Free Report) has received an average recommendation of "Moderate Buy" from the five research firms that are presently covering the company, Marketbeat reports. 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. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $46.75.

Several research analysts recently weighed in on HMN shares. Piper Sandler raised their target price on Horace Mann Educators from $44.00 to $45.00 and gave the company a "neutral" rating in a research note on Thursday, July 3rd. Wall Street Zen raised Horace Mann Educators from a "buy" rating to a "strong-buy" rating in a report on Friday, July 18th. 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 target price on Horace Mann Educators and gave the stock an "outperform" rating in a report on Monday.

Insider Buying and Selling

In related news, Director Victor Fetter purchased 3,500 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The shares were purchased at an average price of $44.03 per share, with a total value of $154,105.00. Following the purchase, the director owned 14,655 shares of the company's stock, valued at $645,259.65. This trade represents a 31.38% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Bret A. Conklin sold 15,472 shares of Horace Mann Educators stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $43.52, for a total value of $673,341.44. Following the completion of the transaction, the executive vice president directly 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. In the last quarter, insiders have sold 51,198 shares of company stock valued at $2,206,575. 3.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Horace Mann Educators

Institutional investors have recently bought and sold shares of the stock. Sterling Capital Management LLC increased its stake in 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 worth $51,000 after purchasing an additional 1,153 shares in the last quarter. GAMMA Investing LLC increased its stake 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 in the last quarter. Financiere des Professionnels Fonds d investissement inc. purchased a new position in Horace Mann Educators in the 2nd quarter worth about $137,000. US Bancorp DE boosted its position in Horace Mann Educators by 2,693.3% during the 1st quarter. US Bancorp DE now owns 4,190 shares of the insurance provider's stock worth $179,000 after acquiring an additional 4,040 shares during the period. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in Horace Mann Educators during the 2nd quarter worth about $210,000. Hedge funds and other institutional investors own 99.28% of the company's stock.

Horace Mann Educators Trading Down 1.9%

NYSE:HMN opened at $40.61 on Monday. Horace Mann Educators has a 1 year low of $31.95 and a 1 year high of $44.44. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 14.71 and a beta of 0.27. The business has a fifty day moving average of $42.38 and a 200-day moving average of $41.28. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.09 and a current ratio of 0.09.

Horace Mann Educators (NYSE:HMN - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The insurance provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.19. Horace Mann Educators had a return on equity of 11.86% and a net margin of 7.04%. The company had revenue of $416.40 million during the quarter, compared to analysts' expectations of $421.40 million. During the same quarter in the prior year, the business posted $0.62 earnings per share. The company's revenue for the quarter was up 7.9% compared to the same quarter last year. Equities analysts predict that Horace Mann Educators will post 3.87 earnings per share for the current year.

Horace Mann Educators Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend was Monday, June 16th. Horace Mann Educators's payout ratio is currently 50.72%.

Horace Mann Educators declared that its Board of Directors has authorized a share buyback program on Tuesday, May 13th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to buy up to 3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's management believes its stock is 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.

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