The Manufacturers Life Insurance Company Sells 407 Shares of Horace Mann Educators Co. (NYSE:HMN)

The Manufacturers Life Insurance Company cut its position in shares of Horace Mann Educators Co. (NYSE:HMN) by 1.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,966 shares of the insurance provider’s stock after selling 407 shares during the period. The Manufacturers Life Insurance Company’s holdings in Horace Mann Educators were worth $733,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Quarry LP grew its position in Horace Mann Educators by 1,798.0% in the second quarter. Quarry LP now owns 949 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 899 shares during the period. GAMMA Investing LLC grew its position in Horace Mann Educators by 142.1% in the third quarter. GAMMA Investing LLC now owns 920 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 540 shares during the period. Summit Securities Group LLC bought a new stake in Horace Mann Educators in the second quarter valued at $35,000. KBC Group NV grew its position in Horace Mann Educators by 60.2% in the third quarter. KBC Group NV now owns 1,671 shares of the insurance provider’s stock valued at $58,000 after acquiring an additional 628 shares during the period. Finally, nVerses Capital LLC bought a new stake in Horace Mann Educators in the second quarter valued at $59,000. 99.28% of the stock is currently owned by institutional investors.

Insider Activity

In other Horace Mann Educators news, Director Beverley J. Mcclure sold 5,634 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $42.08, for a total value of $237,078.72. Following the transaction, the director now owns 19,057 shares of the company’s stock, valued at approximately $801,918.56. This represents a 22.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Marita Zuraitis sold 42,117 shares of the stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $37.06, for a total value of $1,560,856.02. Following the completion of the transaction, the chief executive officer now directly owns 294,402 shares in the company, valued at $10,910,538.12. The trade was a 12.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,751 shares of company stock valued at $2,114,775 over the last 90 days. 3.80% of the stock is owned by company insiders.

Horace Mann Educators Price Performance

Shares of HMN stock opened at $41.46 on Friday. The stock’s fifty day moving average is $39.26 and its 200-day moving average is $35.85. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.09 and a current ratio of 0.09. The stock has a market capitalization of $1.69 billion, a PE ratio of 16.52 and a beta of 0.30. Horace Mann Educators Co. has a 52 week low of $31.81 and a 52 week high of $43.26.

Horace Mann Educators (NYSE:HMN) last issued its quarterly earnings results on Monday, November 4th. The insurance provider reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.04. Horace Mann Educators had a return on equity of 8.14% and a net margin of 6.55%. The business had revenue of $412.10 million for the quarter, compared to analyst estimates of $293.87 million. During the same quarter in the prior year, the firm posted $0.44 earnings per share. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. Equities research analysts expect that Horace Mann Educators Co. will post 2.61 EPS for the current fiscal year.

Horace Mann Educators Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.28%. The ex-dividend date is Monday, December 16th. Horace Mann Educators’s dividend payout ratio (DPR) is presently 54.18%.

Analysts Set New Price Targets

HMN has been the topic of several research analyst reports. Keefe, Bruyette & Woods cut Horace Mann Educators from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $39.00 to $44.00 in a report on Tuesday, November 12th. Piper Sandler increased their target price on Horace Mann Educators from $36.00 to $42.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Horace Mann Educators presently has a consensus rating of “Hold” and an average target price of $42.67.

Horace Mann Educators 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.