Horace Mann Educators Corporation (NYSE:HMN) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its stake in shares of Horace Mann Educators Corporation (NYSE:HMN) by 3.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 451,801 shares of the insurance provider’s stock after selling 18,454 shares during the period. Bank of New York Mellon Corp owned approximately 1.10% of Horace Mann Educators worth $19,305,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in HMN. Sterling Capital Management LLC lifted its position in Horace Mann Educators by 806.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,296 shares of the insurance provider’s stock worth $51,000 after acquiring an additional 1,153 shares during the period. GAMMA Investing LLC raised its stake in shares of Horace Mann Educators by 69.5% in the first quarter. GAMMA Investing LLC now owns 2,697 shares of the insurance provider’s stock worth $115,000 after purchasing an additional 1,106 shares during the last quarter. Pictet Asset Management Holding SA acquired a new stake in shares of Horace Mann Educators during the fourth quarter worth about $244,000. EP Wealth Advisors LLC acquired a new stake in shares of Horace Mann Educators during the fourth quarter worth about $255,000. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Horace Mann Educators during the first quarter worth about $275,000. 99.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on HMN shares. Wall Street Zen raised shares of Horace Mann Educators from a “buy” rating to a “strong-buy” rating in a report on Friday. Raymond James Financial reissued a “strong-buy” rating on shares of Horace Mann Educators in a report on Thursday, May 15th. Finally, Piper Sandler raised their target price on shares of Horace Mann Educators from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, July 3rd. Three equities research analysts have rated the stock with a hold rating and two have issued a strong buy rating to the stock. According to MarketBeat, Horace Mann Educators has a consensus rating of “Moderate Buy” and an average price target of $46.33.

Horace Mann Educators Trading Up 0.0%

Shares of Horace Mann Educators stock opened at $41.32 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.09 and a quick ratio of 0.09. The firm has a fifty day moving average price of $42.47 and a 200 day moving average price of $41.14. Horace Mann Educators Corporation has a 1 year low of $31.95 and a 1 year high of $44.44. The stock has a market cap of $1.69 billion, a PE ratio of 14.97 and a beta of 0.27.

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

Horace Mann Educators Announces Dividend

The company also recently disclosed 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 of this dividend was Monday, June 16th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.39%. Horace Mann Educators’s dividend payout ratio (DPR) is currently 50.72%.

Horace Mann Educators announced that its board has approved a share repurchase program on Tuesday, May 13th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the insurance provider to reacquire up to 3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, EVP Bret A. Conklin sold 15,472 shares of the business’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $43.52, for a total transaction of $673,341.44. Following the completion of the sale, the executive vice president owned 55,792 shares of the company’s stock, valued at $2,428,067.84. The trade was a 21.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Victor Fetter bought 3,500 shares of the business’s stock in a transaction dated Tuesday, May 20th. The shares were bought at an average cost of $44.03 per share, with a total value of $154,105.00. Following the purchase, the director directly owned 14,655 shares of the company’s stock, valued at approximately $645,259.65. This represents a 31.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 51,198 shares of company stock worth $2,206,575. Company insiders own 4.00% of the company’s stock.

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.