Horace Mann Educators (NYSE:HMN) Sets New 12-Month High - Should You Buy?

Key Points

• Horace Mann Educators' shares reached a new 52-week high of $45.36 during trading, with a last recorded price of $45.09.
• Analysts have mixed ratings for the stock, with a consensus rating of "Moderate Buy" and an average price target of $46.75.
• The company also initiated a $50 million share repurchase plan, indicating management's belief that the shares are undervalued.

Horace Mann Educators Corporation (NYSE:HMN - Get Free Report) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $45.36 and last traded at $45.09, with a volume of 18522 shares trading hands. The stock had previously closed at $44.64.

Analyst Ratings Changes

A number of research analysts have issued reports on HMN shares. Piper Sandler lifted their price objective on Horace Mann Educators from $44.00 to $45.00 and gave the company 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 report on Thursday, May 15th. BMO Capital Markets set a $48.00 price objective on Horace Mann Educators and gave the stock an "outperform" rating in a research note on Monday, July 28th. Finally, Wall Street Zen downgraded Horace Mann Educators from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Horace Mann Educators currently has a consensus rating of "Moderate Buy" and an average target price of $46.75.

Horace Mann Educators Price 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 stock has a market cap of $1.83 billion, a price-to-earnings ratio of 13.32 and a beta of 0.27. The stock has a 50-day moving average price of $42.29 and a two-hundred day moving average price of $41.84.

Horace Mann Educators (NYSE:HMN - Get Free Report) last posted its earnings results on Wednesday, August 6th. The insurance provider reported $1.06 EPS 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 firm had revenue of $302.60 million for the quarter, compared to analysts' expectations of $425.35 million. During the same period last year, the firm earned $0.20 EPS. The company's quarterly revenue was up 6.1% on a year-over-year basis. As a group, equities research analysts forecast that Horace Mann Educators Corporation will post 3.87 EPS for the current year.

Horace Mann Educators announced that its Board of Directors has initiated a share repurchase plan on Tuesday, May 13th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the insurance provider to buy up to 3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at Horace Mann Educators

In other Horace Mann Educators news, CEO Marita Zuraitis sold 5,000 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at approximately $13,423,901.24. This trade represents a 1.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Bret A. Conklin sold 15,472 shares of Horace Mann Educators stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $43.52, for a total transaction of $673,341.44. Following the sale, the executive vice president owned 55,792 shares of the company's stock, valued at approximately $2,428,067.84. The trade was a 21.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,198 shares of company stock worth $2,210,975 in the last three months. 3.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Horace Mann Educators

A number of institutional investors have recently modified their holdings of HMN. EverSource Wealth Advisors LLC grew its position in Horace Mann Educators by 222.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 909 shares of the insurance provider's stock worth $39,000 after purchasing an additional 627 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in Horace Mann Educators in the 2nd quarter worth approximately $47,000. Sterling Capital Management LLC lifted its position in Horace Mann Educators by 806.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,296 shares of the insurance provider's stock worth $51,000 after buying an additional 1,153 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Horace Mann Educators by 69.5% during the 1st 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. Finally, Financiere des Professionnels Fonds d investissement inc. bought a new position in Horace Mann Educators in the 2nd quarter worth $137,000. 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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