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BMO Capital Markets Initiates Coverage on Horace Mann Educators (NYSE:HMN)

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Key Points

  • BMO Capital Markets initiated coverage on Horace Mann Educators (NYSE:HMN) with an "outperform" rating and a price target of $48.00, indicating a potential upside of 15.27% from its current price.
  • Horace Mann Educators reported earnings of $1.07 EPS for the last quarter, surpassing estimates, with revenues of $416.40 million, marking a 7.9% increase compared to the previous year.
  • The company has authorized a $50.00 million share repurchase plan, which is often seen as a sign that the board believes the stock is undervalued.
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Stock analysts at BMO Capital Markets assumed coverage on shares of Horace Mann Educators (NYSE:HMN - Get Free Report) in a research note issued on Monday, Marketbeat reports. The brokerage set an "outperform" rating and a $48.00 price target on the insurance provider's stock. BMO Capital Markets' price objective would indicate a potential upside of 15.68% from the company's current price.

A number of other equities analysts also recently issued reports on the company. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Horace Mann Educators in a report on Thursday, May 15th. Piper Sandler upped their price target on Horace Mann Educators from $44.00 to $45.00 and gave the company a "neutral" rating in a report on Thursday, July 3rd. Finally, Wall Street Zen raised Horace Mann Educators from a "buy" rating to a "strong-buy" rating in a report on Friday, July 18th. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $46.75.

View Our Latest Report on Horace Mann Educators

Horace Mann Educators Stock Down 0.2%

Shares of Horace Mann Educators stock traded down $0.10 on Monday, reaching $41.49. 241,997 shares of the company were exchanged, compared to its average volume of 265,069. Horace Mann Educators has a 1-year low of $31.95 and a 1-year high of $44.44. The company has a market cap of $1.69 billion, a P/E ratio of 15.03 and a beta of 0.27. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.09 and a quick ratio of 0.09. The stock's 50 day moving average price is $42.29 and its 200-day moving average price is $41.31.

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

Horace Mann Educators announced that its board has approved a stock buyback program on Tuesday, May 13th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the insurance provider to reacquire up to 3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Insider Transactions at Horace Mann Educators

In other news, EVP Bret A. Conklin sold 4,760 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $42.90, for a total transaction of $204,204.00. Following the completion of the sale, the executive vice president owned 58,587 shares in the company, valued at $2,513,382.30. This represents a 7.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Marita Zuraitis sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $42.87, for a total value of $214,350.00. Following the sale, the chief executive officer owned 307,155 shares of the company's stock, valued at $13,167,734.85. This trade represents a 1.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,198 shares of company stock worth $2,206,575 over the last 90 days. 3.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Horace Mann Educators

Several large investors have recently modified their holdings of the stock. Bank of Montreal Can raised its stake in shares of Horace Mann Educators by 2.1% during the fourth quarter. Bank of Montreal Can now owns 13,269 shares of the insurance provider's stock worth $521,000 after purchasing an additional 272 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Horace Mann Educators by 4.0% in the first quarter. PNC Financial Services Group Inc. now owns 8,478 shares of the insurance provider's stock worth $362,000 after acquiring an additional 325 shares in the last quarter. Martingale Asset Management L P raised its position in Horace Mann Educators by 0.7% in the first quarter. Martingale Asset Management L P now owns 48,332 shares of the insurance provider's stock worth $2,065,000 after acquiring an additional 340 shares in the last quarter. Natixis Advisors LLC raised its position in Horace Mann Educators by 1.7% in the first quarter. Natixis Advisors LLC now owns 22,275 shares of the insurance provider's stock worth $952,000 after acquiring an additional 370 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its position in Horace Mann Educators by 1.9% in the second quarter. Exchange Traded Concepts LLC now owns 19,532 shares of the insurance provider's stock worth $839,000 after acquiring an additional 372 shares in the last quarter. Hedge funds and other institutional investors own 99.28% of the company's stock.

Horace Mann Educators Company Profile

(Get Free Report)

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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