Norges Bank Makes New $4.21 Million Investment in Horace Mann Educators Co. (NYSE:HMN)

Norges Bank purchased a new position in Horace Mann Educators Co. (NYSE:HMN - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 107,300 shares of the insurance provider's stock, valued at approximately $4,209,000. Norges Bank owned 0.26% of Horace Mann Educators as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Horace Mann Educators by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 5,004,806 shares of the insurance provider's stock valued at $196,339,000 after buying an additional 32,586 shares in the last quarter. Franklin Resources Inc. boosted its stake in Horace Mann Educators by 13.9% during the third quarter. Franklin Resources Inc. now owns 2,942,494 shares of the insurance provider's stock worth $104,194,000 after acquiring an additional 359,083 shares in the last quarter. State Street Corp boosted its position in shares of Horace Mann Educators by 1.3% in the 3rd quarter. State Street Corp now owns 1,633,717 shares of the insurance provider's stock worth $57,098,000 after purchasing an additional 20,771 shares in the last quarter. Geode Capital Management LLC raised its stake in Horace Mann Educators by 2.4% during the third quarter. Geode Capital Management LLC now owns 954,080 shares of the insurance provider's stock valued at $33,351,000 after buying an additional 22,358 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Horace Mann Educators by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 566,880 shares of the insurance provider's stock worth $22,239,000 after acquiring an additional 8,570 shares in the last quarter. Institutional investors own 99.28% of the company's stock.

Horace Mann Educators Stock Performance

NYSE HMN traded up $0.48 during trading hours on Tuesday, hitting $40.99. The company's stock had a trading volume of 16,224 shares, compared to its average volume of 215,181. Horace Mann Educators Co. has a 12 month low of $31.81 and a 12 month high of $43.69. The company's 50 day simple moving average is $41.35 and its two-hundred day simple moving average is $39.70. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.10 and a quick ratio of 0.09. The company has a market cap of $1.68 billion, a P/E ratio of 16.53 and a beta of 0.21.

Horace Mann Educators (NYSE:HMN - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $1.62 EPS for the quarter, topping analysts' consensus estimates of $1.04 by $0.58. Horace Mann Educators had a net margin of 6.44% and a return on equity of 10.58%. As a group, sell-side analysts expect that Horace Mann Educators Co. will post 3.87 EPS for the current fiscal year.

Horace Mann Educators Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.35 dividend. The ex-dividend date was Monday, March 17th. This represents a $1.40 annualized dividend and a dividend yield of 3.42%. This is a positive change from Horace Mann Educators's previous quarterly dividend of $0.34. Horace Mann Educators's payout ratio is presently 56.45%.

Insider Activity at Horace Mann Educators

In other news, CEO Marita Zuraitis sold 5,000 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $43.09, for a total transaction of $215,450.00. Following the completion of the sale, the chief executive officer now owns 320,451 shares of the company's stock, valued at $13,808,233.59. This represents a 1.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Beverley J. Mcclure sold 2,816 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $42.86, for a total transaction of $120,693.76. Following the completion of the transaction, the director now directly owns 13,643 shares in the company, valued at approximately $584,738.98. The trade was a 17.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,816 shares of company stock worth $485,624. 3.80% of the stock is owned by insiders.

Analysts Set New Price Targets

HMN has been the subject of several analyst reports. Piper Sandler raised their price target on Horace Mann Educators from $42.00 to $44.00 and gave the company a "neutral" rating in a report on Friday, February 7th. JMP Securities restated a "market perform" rating on shares of Horace Mann Educators in a research note on Friday, February 7th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Horace Mann Educators from $44.00 to $45.00 and gave the company a "market perform" rating in a report on Tuesday, February 11th. Four research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $43.67.

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.