Horace Mann Educators (NYSE:HMN) Reaches New 52-Week High - Should You Buy?

Key Points

• Horace Mann Educators Corporation reached a new 52-week high of $46.36 during trading, with its last recorded price at $46.24.
• Analysts' ratings for the stock show a mix of opinions, with one "strong-buy," one "buy," and three "hold" ratings, while the average price target is set at $46.75.
• The company reported earnings of $1.06 per share, significantly surpassing the consensus estimate of $0.61, while also announcing a $50 million stock buyback plan.

Shares of Horace Mann Educators Corporation (NYSE:HMN - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $46.36 and last traded at $46.24, with a volume of 36599 shares. The stock had previously closed at $46.12.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on HMN shares. Raymond James Financial restated a "strong-buy" rating on shares of Horace Mann Educators in a research note on Thursday, May 15th. BMO Capital Markets set a $48.00 price target on shares of Horace Mann Educators and gave the stock an "outperform" rating in a research note on Monday, July 28th. Wall Street Zen lowered shares of Horace Mann Educators from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, Piper Sandler raised their price target 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. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $46.75.

Horace Mann Educators Stock Performance

The company's fifty day simple moving average is $42.97 and its 200 day simple moving average is $42.22. 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 stock has a market capitalization of $1.87 billion, a P/E ratio of 13.60 and a beta of 0.27.

Horace Mann Educators (NYSE:HMN - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.06 EPS for the quarter, beating the consensus estimate of $0.61 by $0.45. Horace Mann Educators had a net margin of 8.49% and a return on equity of 14.23%. The firm had revenue of $302.60 million during the quarter, compared to the consensus estimate of $425.35 million. During the same period last year, the firm earned $0.20 EPS. The business's quarterly revenue was up 6.1% compared to the same quarter last year. As a group, sell-side analysts forecast 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 authorized a stock buyback plan on Tuesday, May 13th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the insurance provider to buy up to 3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its stock is undervalued.

Insider Activity

In other news, CEO Marita Zuraitis sold 5,000 shares of the firm's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $42.28, for a total transaction of $211,400.00. Following the sale, the chief executive officer owned 302,155 shares in the company, valued at approximately $12,775,113.40. This trade represents a 1.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Bret A. Conklin sold 4,760 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $42.90, for a total transaction of $204,204.00. Following the sale, the executive vice president owned 58,587 shares in the company, valued at approximately $2,513,382.30. This trade represents a 7.51% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,260 shares of company stock worth $790,744. 3.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Horace Mann Educators

Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in Horace Mann Educators in the 1st quarter worth $693,000. Assenagon Asset Management S.A. purchased a new position in shares of Horace Mann Educators in the first quarter valued at about $275,000. Victory Capital Management Inc. increased its position in shares of Horace Mann Educators by 55.1% in the first quarter. Victory Capital Management Inc. now owns 33,644 shares of the insurance provider's stock valued at $1,438,000 after acquiring an additional 11,954 shares during the period. Jane Street Group LLC increased its position in shares of Horace Mann Educators by 41.4% in the fourth quarter. Jane Street Group LLC now owns 22,148 shares of the insurance provider's stock valued at $869,000 after acquiring an additional 6,483 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Horace Mann Educators by 69.5% in the first quarter. GAMMA Investing LLC now owns 2,697 shares of the insurance provider's stock valued at $115,000 after acquiring an additional 1,106 shares during the period. Hedge funds and other institutional investors own 99.28% of the company's stock.

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.

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