Horace Mann Educators (NYSE:HMN) Downgraded by Keefe, Bruyette & Woods to “Market Perform”

Keefe, Bruyette & Woods cut shares of Horace Mann Educators (NYSE:HMN) from an outperform rating to a market perform rating in a report published on Tuesday, MarketBeat.com reports. The brokerage currently has $44.00 price objective on the insurance provider’s stock, up from their previous price objective of $39.00.

Several other equities analysts have also commented on HMN. Raymond James began coverage on Horace Mann Educators in a research report on Tuesday, August 6th. They set a “strong-buy” rating and a $42.00 price objective for the company. Piper Sandler lifted their price target on Horace Mann Educators from $36.00 to $42.00 and gave the stock a “neutral” rating in a research 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 MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $42.67.

Horace Mann Educators Trading Down 0.6 %

HMN opened at $42.06 on Tuesday. Horace Mann Educators has a one year low of $31.81 and a one year high of $43.26. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 16.76 and a beta of 0.27. The business has a 50 day simple moving average of $36.29 and a two-hundred day simple moving average of $34.96. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.09 and a quick ratio of 0.09.

Horace Mann Educators (NYSE:HMN) last announced its earnings results 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 firm had revenue of $412.10 million during the quarter, compared to analyst estimates of $293.87 million. Horace Mann Educators had a return on equity of 8.14% and a net margin of 6.55%. The business’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.44 EPS. Analysts predict that Horace Mann Educators will post 2.61 EPS for the current year.

Horace Mann Educators Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.23%. Horace Mann Educators’s dividend payout ratio is currently 54.18%.

Insider Buying and Selling at Horace Mann Educators

In other Horace Mann Educators news, CEO Marita Zuraitis sold 42,117 shares of the company’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $37.06, for a total value of $1,560,856.02. Following the completion of the sale, the chief executive officer now owns 294,402 shares in the company, valued at $10,910,538.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 3.80% of the stock is owned by corporate insiders.

Institutional Trading of Horace Mann Educators

A number of hedge funds and other institutional investors have recently modified their holdings of HMN. Charles Schwab Investment Management Inc. grew its position in shares of Horace Mann Educators by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 558,310 shares of the insurance provider’s stock worth $19,513,000 after purchasing an additional 6,254 shares in the last quarter. Intech Investment Management LLC grew its position in shares of Horace Mann Educators by 34.6% during the third quarter. Intech Investment Management LLC now owns 22,748 shares of the insurance provider’s stock valued at $795,000 after purchasing an additional 5,851 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Horace Mann Educators by 28.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 26,683 shares of the insurance provider’s stock valued at $933,000 after buying an additional 5,953 shares during the last quarter. Empowered Funds LLC increased its stake in Horace Mann Educators by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 163,047 shares of the insurance provider’s stock worth $5,698,000 after acquiring an additional 8,308 shares during the last quarter. Finally, KBC Group NV increased its stake in Horace Mann Educators by 60.2% in the 3rd quarter. KBC Group NV now owns 1,671 shares of the insurance provider’s stock worth $58,000 after acquiring an additional 628 shares during the last quarter. 99.28% of the stock is owned by hedge funds and other institutional investors.

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.