Oppenheimer Asset Management Inc. Trims Stake in Horace Mann Educators Co. (NYSE:HMN)

Oppenheimer Asset Management Inc. trimmed its stake in Horace Mann Educators Co. (NYSE:HMN) by 1.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,468 shares of the insurance provider’s stock after selling 476 shares during the period. Oppenheimer Asset Management Inc. owned 0.08% of Horace Mann Educators worth $1,100,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of HMN. Assenagon Asset Management S.A. increased its stake in shares of Horace Mann Educators by 129.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 291,164 shares of the insurance provider’s stock worth $10,176,000 after purchasing an additional 164,036 shares in the last quarter. Deprince Race & Zollo Inc. increased its stake in Horace Mann Educators by 8.7% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,083,715 shares of the insurance provider’s stock worth $35,351,000 after buying an additional 86,766 shares in the last quarter. Bank of Montreal Can increased its stake in Horace Mann Educators by 476.8% in the 2nd quarter. Bank of Montreal Can now owns 77,527 shares of the insurance provider’s stock worth $2,571,000 after buying an additional 64,087 shares in the last quarter. Hantz Financial Services Inc. purchased a new stake in Horace Mann Educators in the 2nd quarter worth $2,037,000. Finally, Dimensional Fund Advisors LP increased its stake in Horace Mann Educators by 1.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,533,774 shares of the insurance provider’s stock worth $82,653,000 after buying an additional 43,064 shares in the last quarter. 99.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Piper Sandler increased their price target on shares of Horace Mann Educators from $36.00 to $42.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Keefe, Bruyette & Woods downgraded shares of Horace Mann Educators from an “outperform” rating to a “market perform” rating and increased their price target for the company from $39.00 to $44.00 in a report on Tuesday, November 12th. Finally, Raymond James assumed coverage on shares of Horace Mann Educators in a report on Tuesday, August 6th. They issued a “strong-buy” rating and a $42.00 price target for the company. Four research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $42.67.

Insider Activity

In other news, CEO Marita Zuraitis sold 4,000 shares of Horace Mann Educators stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $37.24, for a total transaction of $148,960.00. Following the completion of the sale, the chief executive officer now owns 292,336 shares of the company’s stock, valued at approximately $10,886,592.64. The trade was a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Beverley J. Mcclure sold 5,634 shares of Horace Mann Educators stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $42.08, for a total transaction of $237,078.72. Following the sale, the director now directly owns 19,057 shares of the company’s stock, valued at $801,918.56. This represents a 22.82 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,751 shares of company stock valued at $1,946,895. Corporate insiders own 3.80% of the company’s stock.

Horace Mann Educators Stock Down 1.7 %

Shares of NYSE HMN opened at $40.60 on Tuesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.09 and a quick ratio of 0.09. The company has a market cap of $1.65 billion, a P/E ratio of 16.18 and a beta of 0.27. Horace Mann Educators Co. has a 1 year low of $31.81 and a 1 year high of $43.26. The firm has a 50-day simple moving average of $36.75 and a two-hundred day simple moving average of $35.06.

Horace Mann Educators (NYSE:HMN) last announced its quarterly earnings data on Monday, November 4th. The insurance provider reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.04. The business had revenue of $412.10 million during the quarter, compared to the consensus estimate of $293.87 million. Horace Mann Educators had a net margin of 6.55% and a return on equity of 8.14%. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.44 earnings per share. Research analysts anticipate that Horace Mann Educators Co. will post 2.61 earnings per share for the current year.

Horace Mann Educators Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date was Monday, September 16th. Horace Mann Educators’s dividend payout ratio (DPR) is presently 54.18%.

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.