Teacher Retirement System of Texas Reduces Position in Horace Mann Educators Corporation (NYSE:HMN)

Teacher Retirement System of Texas lessened its stake in shares of Horace Mann Educators Corporation (NYSE:HMN) by 50.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,593 shares of the insurance provider’s stock after selling 23,229 shares during the period. Teacher Retirement System of Texas owned approximately 0.06% of Horace Mann Educators worth $965,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of HMN. Charles Schwab Investment Management Inc. increased its holdings in shares of Horace Mann Educators by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 566,880 shares of the insurance provider’s stock valued at $22,239,000 after purchasing an additional 8,570 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Horace Mann Educators by 1.4% in the 4th quarter. Victory Capital Management Inc. now owns 21,690 shares of the insurance provider’s stock worth $851,000 after acquiring an additional 305 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Horace Mann Educators in the 4th quarter worth $428,000. Raymond James Financial Inc. purchased a new stake in Horace Mann Educators in the 4th quarter worth $1,121,000. Finally, Amundi increased its holdings in Horace Mann Educators by 184.5% in the 4th quarter. Amundi now owns 20,440 shares of the insurance provider’s stock worth $772,000 after acquiring an additional 13,255 shares in the last quarter. Hedge funds and other institutional investors own 99.28% of the company’s stock.

Insider Buying and Selling

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

Horace Mann Educators Price Performance

Shares of HMN opened at $40.91 on Tuesday. The company has a market cap of $1.67 billion, a P/E ratio of 14.82 and a beta of 0.27. The stock has a fifty day moving average price of $42.57 and a 200 day moving average price of $41.10. 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 Corporation has a 12 month low of $31.95 and a 12 month high of $44.44.

Horace Mann Educators (NYSE:HMN) last announced its quarterly earnings data on Tuesday, May 6th. The insurance provider reported $1.07 earnings per share for the quarter, beating 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 business had revenue of $416.40 million during the quarter, compared to analyst estimates of $421.40 million. During the same quarter in the prior year, the firm posted $0.62 earnings per share. The company’s revenue was up 7.9% on a year-over-year basis. On average, research analysts forecast that Horace Mann Educators Corporation will post 3.87 earnings per share for the current year.

Horace Mann Educators declared that its board has approved a stock repurchase plan on Tuesday, May 13th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the insurance provider to buy up to 3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Horace Mann Educators Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $1.40 annualized dividend and a dividend yield of 3.42%. Horace Mann Educators’s dividend payout ratio (DPR) is presently 50.72%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on HMN. Wall Street Zen cut shares of Horace Mann Educators from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 21st. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Horace Mann Educators in a research report on Thursday, May 15th. Finally, Piper Sandler upped their target price on shares of Horace Mann Educators from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, July 3rd. Three equities 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $46.33.

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.