Analysts Set Horace Mann Educators Corporation (NYSE:HMN) Target Price at $46.75

Key Points

• Horace Mann Educators Corporation (NYSE:HMN) has received a consensus recommendation of "Moderate Buy" from analysts, with price targets averaging $46.75.
• Insider trading activity includes significant sales of shares by executives, with a total of 51,198 shares sold in the last quarter valued at over $2.2 million.
• The company reported quarterly earnings of $1.06 per share, exceeding analysts' expectations by $0.45, despite revenue falling short at $302.60 million compared to estimates.

Shares of Horace Mann Educators Corporation (NYSE:HMN - Get Free Report) have earned an average recommendation of "Moderate Buy" from the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned 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 have recently commented on HMN shares. Piper Sandler boosted their price target on Horace Mann Educators from $44.00 to $45.00 and gave the stock a "neutral" rating in a research report on Thursday, July 3rd. BMO Capital Markets set a $48.00 price target on Horace Mann Educators and gave the stock an "outperform" rating in a research report on Monday, July 28th. Raymond James Financial reissued a "strong-buy" rating on shares of Horace Mann Educators in a research report on Thursday, May 15th. Finally, Wall Street Zen lowered Horace Mann Educators from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd.

Horace Mann Educators Stock Up 0.8%

NYSE HMN traded up $0.35 on Friday, reaching $45.50. 187,923 shares of the stock traded hands, compared to its average volume of 214,170. The company has a market cap of $1.85 billion, a price-to-earnings ratio of 13.46 and a beta of 0.27. 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 has a 12 month low of $33.00 and a 12 month high of $46.31. The company has a fifty day moving average price of $42.69 and a 200-day moving average price of $42.09.

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

Horace Mann Educators declared that its board has approved a stock buyback program on Tuesday, May 13th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the insurance provider to repurchase up to 3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling

In related news, General Counsel Donald M. Carley sold 3,500 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $45.94, for a total transaction of $160,790.00. Following the transaction, the general counsel directly owned 22,092 shares in the company, valued at $1,014,906.48. The trade was a 13.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Bret A. Conklin sold 6,486 shares of the business's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $43.55, for a total value of $282,465.30. Following the transaction, the executive vice president owned 57,026 shares in the company, valued at approximately $2,483,482.30. This trade represents a 10.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 39,226 shares of company stock worth $1,698,423 in the last ninety days. 4.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in HMN. Renaissance Technologies LLC grew its stake in Horace Mann Educators by 7.0% during the 4th quarter. Renaissance Technologies LLC now owns 22,900 shares of the insurance provider's stock worth $898,000 after buying an additional 1,500 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Horace Mann Educators during the 4th quarter valued at about $1,121,000. Sterling Capital Management LLC grew its stake in Horace Mann Educators by 806.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,296 shares of the insurance provider's stock valued at $51,000 after purchasing an additional 1,153 shares during the last quarter. Barclays PLC grew its stake in Horace Mann Educators by 25.3% during the 4th quarter. Barclays PLC now owns 87,704 shares of the insurance provider's stock valued at $3,441,000 after purchasing an additional 17,692 shares during the last quarter. Finally, Mariner LLC grew its stake in Horace Mann Educators by 23.3% during the 4th quarter. Mariner LLC now owns 12,597 shares of the insurance provider's stock valued at $494,000 after purchasing an additional 2,384 shares during the last quarter. 99.28% of the stock is currently owned by hedge funds and other institutional investors.

Horace Mann Educators Company 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.