Horace Mann Educators (NYSE:HMN) Reaches New 1-Year High - Time to Buy?

Key Points

• Horace Mann Educators' stock reached a new 52-week high at $46.31, closing at $45.68 with notable trading volume.
• Analysts maintain a consensus rating of "Moderate Buy" with an average price target of $46.75, despite varied ratings from different firms.
• The company reported a strong quarterly earnings performance, with $1.06 EPS, significantly surpassing expectations; however, revenue fell short of estimates at $302.60 million.

Horace Mann Educators Corporation (NYSE:HMN - Get Free Report)'s stock price hit a new 52-week high during trading on Monday . The company traded as high as $46.31 and last traded at $45.68, with a volume of 188882 shares. The stock had previously closed at $45.41.

Wall Street Analysts Forecast Growth

HMN has been the subject of a number of recent research reports. Piper Sandler lifted 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. Raymond James Financial reissued a "strong-buy" rating on shares of Horace Mann Educators in a research note on Thursday, May 15th. Wall Street Zen cut shares of Horace Mann Educators from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, BMO Capital Markets set a $48.00 price objective on shares of Horace Mann Educators and gave the stock an "outperform" rating in a research note on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, Horace Mann Educators presently has an average rating of "Moderate Buy" and a consensus price target of $46.75.

Horace Mann Educators Stock Performance

The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.40. The business's 50 day moving average is $42.50 and its 200 day moving average is $42.02. The stock has a market capitalization of $1.86 billion, a PE ratio of 13.50 and a beta of 0.27.

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

Horace Mann Educators announced that its board has initiated a stock repurchase plan 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 plans are often an indication that the company's board of directors believes its shares are undervalued.

Insider Activity

In other news, CEO Marita Zuraitis sold 5,000 shares of the business's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $42.28, for a total value of $211,400.00. Following the completion of the sale, the chief executive officer owned 302,155 shares in the company, valued at approximately $12,775,113.40. The trade was a 1.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Bret A. Conklin sold 4,760 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were 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 of the company's stock, valued at approximately $2,513,382.30. This represents a 7.51% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,198 shares of company stock valued at $2,210,975. 3.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its stake in shares of Horace Mann Educators by 222.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 909 shares of the insurance provider's stock worth $39,000 after acquiring an additional 627 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in Horace Mann Educators during the 2nd quarter worth approximately $47,000. GAMMA Investing LLC grew its position in Horace Mann Educators by 69.5% during 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 during the last quarter. Financiere des Professionnels Fonds d investissement inc. purchased a new stake in Horace Mann Educators during the 2nd quarter worth approximately $137,000. Finally, Tower Research Capital LLC TRC grew its position in Horace Mann Educators by 200.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,636 shares of the insurance provider's stock worth $156,000 after purchasing an additional 2,427 shares during the last quarter. Institutional investors own 99.28% of the company's stock.

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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