Horace Mann Educators Corporation (NYSE:HMN) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC boosted its stake in Horace Mann Educators Corporation (NYSE:HMN) by 69.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,697 shares of the insurance provider’s stock after purchasing an additional 1,106 shares during the period. GAMMA Investing LLC’s holdings in Horace Mann Educators were worth $115,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in HMN. Harbor Capital Advisors Inc. lifted its position in shares of Horace Mann Educators by 27.1% during the first quarter. Harbor Capital Advisors Inc. now owns 64,655 shares of the insurance provider’s stock worth $2,763,000 after purchasing an additional 13,782 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Horace Mann Educators by 12.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 131,246 shares of the insurance provider’s stock valued at $5,149,000 after purchasing an additional 14,844 shares during the period. State of Wyoming increased its stake in shares of Horace Mann Educators by 20.3% in the fourth quarter. State of Wyoming now owns 7,158 shares of the insurance provider’s stock valued at $281,000 after purchasing an additional 1,209 shares during the period. Nuveen Asset Management LLC increased its stake in shares of Horace Mann Educators by 1.2% in the fourth quarter. Nuveen Asset Management LLC now owns 86,883 shares of the insurance provider’s stock valued at $3,408,000 after purchasing an additional 1,022 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Horace Mann Educators by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,385 shares of the insurance provider’s stock valued at $917,000 after purchasing an additional 810 shares during the period. 99.28% of the stock is currently owned by institutional investors and hedge funds.

Horace Mann Educators Price Performance

Shares of NYSE:HMN opened at $42.60 on Monday. Horace Mann Educators Corporation has a 12 month low of $31.95 and a 12 month high of $44.44. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of 15.43 and a beta of 0.27. The stock’s 50 day moving average price is $42.65 and its 200 day moving average price is $41.05. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.09 and a quick ratio of 0.09.

Horace Mann Educators (NYSE:HMN) last announced its earnings results on Tuesday, May 6th. The insurance provider reported $1.07 EPS for the quarter, topping the consensus estimate of $0.88 by $0.19. Horace Mann Educators had a return on equity of 11.86% and a net margin of 7.04%. The firm had revenue of $416.40 million for the quarter, compared to analysts’ expectations of $421.40 million. During the same quarter in the previous year, the company earned $0.62 earnings per share. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. Equities research analysts anticipate that Horace Mann Educators Corporation will post 3.87 earnings per share for the current fiscal year.

Horace Mann Educators Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a $0.35 dividend. The ex-dividend date was Monday, June 16th. This represents a $1.40 annualized dividend and a yield of 3.29%. Horace Mann Educators’s dividend payout ratio (DPR) is 50.72%.

Horace Mann Educators declared that its board has initiated a stock buyback program on Tuesday, May 13th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the insurance provider to reacquire up to 3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages have commented on HMN. Piper Sandler raised their price target on shares of Horace Mann Educators from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday. Raymond James Financial restated a “strong-buy” rating on shares of Horace Mann Educators in a research note on Thursday, May 15th. Finally, Wall Street Zen lowered shares of Horace Mann Educators from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 21st. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Horace Mann Educators currently has a consensus rating of “Moderate Buy” and an average price target of $46.33.

Insiders Place Their Bets

In other Horace Mann Educators news, CEO Marita Zuraitis sold 5,000 shares of Horace Mann Educators stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $41.40, for a total value of $207,000.00. Following the transaction, the chief executive officer owned 315,451 shares in the company, valued at approximately $13,059,671.40. The trade was a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Bret A. Conklin sold 15,472 shares of Horace Mann Educators stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $43.52, for a total transaction of $673,341.44. Following the completion of the transaction, the executive vice president owned 55,792 shares in the company, valued at approximately $2,428,067.84. This trade represents a 21.71% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,198 shares of company stock worth $2,206,575. 3.80% of the stock is owned by insiders.

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.