Horace Mann Educators (NYSE:HMN) Sets New 1-Year High - Here's What Happened

Key Points

• Horace Mann Educators' share price reached a new 52-week high of $44.67, trading at $44.58 with a volume of 214,947 shares.
• Analysts have mixed views on the stock, with ratings ranging from "strong-buy" to "neutral," and an average target price set at $46.75.
• The company reported $1.06 earnings per share for the quarter, outperforming expectations, despite revenue falling short of estimates at $302.60 million.

Horace Mann Educators Corporation (NYSE:HMN - Get Free Report)'s share price hit a new 52-week high on Wednesday . The stock traded as high as $44.67 and last traded at $44.58, with a volume of 214947 shares trading hands. The stock had previously closed at $43.97.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on HMN. Raymond James Financial restated a "strong-buy" rating on shares of Horace Mann Educators in a report on Thursday, May 15th. BMO Capital Markets set a $48.00 target price on Horace Mann Educators and gave the stock an "outperform" rating in a research report on Monday, July 28th. Wall Street Zen lowered Horace Mann Educators from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Piper Sandler boosted their target price 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. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $46.75.

Horace Mann Educators Stock Up 1.4%

The business has a 50-day moving average price of $42.17 and a 200-day moving average price of $41.65. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of 13.19 and a beta of 0.27. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.40.

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

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

Insider Activity

In other news, CEO Marita Zuraitis sold 5,000 shares of Horace Mann Educators stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $43.24, for a total transaction of $216,200.00. Following the transaction, the chief executive officer owned 310,451 shares in the company, valued at approximately $13,423,901.24. The trade was a 1.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Bret A. Conklin sold 15,472 shares of Horace Mann Educators stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $43.52, for a total value of $673,341.44. Following the transaction, the executive vice president 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. Over the last quarter, insiders have sold 51,198 shares of company stock worth $2,210,975. 3.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Sterling Capital Management LLC grew its stake in Horace Mann Educators by 806.3% in the fourth 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 in the last quarter. GAMMA Investing LLC grew its stake in 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 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 second quarter valued at about $137,000. US Bancorp DE grew its stake in Horace Mann Educators by 2,693.3% in the first quarter. US Bancorp DE now owns 4,190 shares of the insurance provider's stock valued at $179,000 after purchasing an additional 4,040 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in Horace Mann Educators in the second quarter valued at about $210,000. 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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