Tower Research Capital LLC TRC Sells 7,540 Shares of Horace Mann Educators Co. (NYSE:HMN)

Tower Research Capital LLC TRC lessened its stake in Horace Mann Educators Co. (NYSE:HMN - Free Report) by 87.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,041 shares of the insurance provider's stock after selling 7,540 shares during the quarter. Tower Research Capital LLC TRC's holdings in Horace Mann Educators were worth $41,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. MetLife Investment Management LLC raised its holdings in Horace Mann Educators by 4.2% during the 4th quarter. MetLife Investment Management LLC now owns 25,051 shares of the insurance provider's stock valued at $983,000 after acquiring an additional 1,020 shares during the period. Dimensional Fund Advisors LP raised its holdings in Horace Mann Educators by 1.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,659,695 shares of the insurance provider's stock valued at $104,340,000 after acquiring an additional 47,074 shares during the period. First Trust Advisors LP raised its holdings in Horace Mann Educators by 5.1% during the 4th quarter. First Trust Advisors LP now owns 89,724 shares of the insurance provider's stock valued at $3,520,000 after acquiring an additional 4,326 shares during the period. Mariner LLC raised its holdings in Horace Mann Educators by 23.3% during the 4th quarter. Mariner LLC now owns 12,597 shares of the insurance provider's stock valued at $494,000 after acquiring an additional 2,384 shares during the period. Finally, Barclays PLC raised its holdings in Horace Mann Educators by 25.3% during the 4th quarter. Barclays PLC now owns 87,704 shares of the insurance provider's stock valued at $3,441,000 after acquiring an additional 17,692 shares during the period. Institutional investors own 99.28% of the company's stock.

Horace Mann Educators Stock Down 1.1%

HMN opened at $41.53 on Wednesday. The company has a fifty day moving average price of $41.32 and a 200-day moving average price of $40.44. The firm has a market capitalization of $1.69 billion, a P/E ratio of 16.75 and a beta of 0.28. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.10 and a quick ratio of 0.09. Horace Mann Educators Co. has a one year low of $31.81 and a one year high of $43.69.

Horace Mann Educators (NYSE:HMN - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The insurance provider reported $1.07 EPS for the quarter, beating analysts' consensus estimates of $0.88 by $0.19. Horace Mann Educators had a net margin of 6.44% and a return on equity of 10.58%. The firm had revenue of $416.40 million during the quarter, compared to analyst estimates of $421.40 million. During the same period in the previous year, the business earned $0.62 EPS. The business's revenue for the quarter was up 7.9% on a year-over-year basis. Equities research analysts expect that Horace Mann Educators Co. 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 allows the company to buyback $50.00 million in shares. This buyback authorization allows the insurance provider to repurchase up to 3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is undervalued.

Horace Mann Educators Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a $0.35 dividend. The ex-dividend date of this dividend was Monday, March 17th. This is a positive change from Horace Mann Educators's previous quarterly dividend of $0.34. This represents a $1.40 annualized dividend and a yield of 3.37%. Horace Mann Educators's payout ratio is 50.72%.

Insider Buying and Selling

In other Horace Mann Educators news, Director Beverley J. Mcclure sold 2,816 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $42.86, for a total transaction of $120,693.76. Following the completion of the sale, the director now directly owns 13,643 shares in the company, valued at $584,738.98. This represents a 17.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Marita Zuraitis sold 5,000 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $41.40, for a total transaction of $207,000.00. Following the sale, the chief executive officer now owns 315,451 shares of the company's stock, valued at approximately $13,059,671.40. The trade was a 1.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,816 shares of company stock worth $543,144. Corporate insiders own 4.00% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods boosted their target price 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. JMP Securities restated a "market perform" rating on shares of Horace Mann Educators in a research report on Friday, February 7th. StockNews.com upgraded shares of Horace Mann Educators from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th. Finally, Piper Sandler boosted their price target on shares of Horace Mann Educators from $42.00 to $44.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" 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.

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