PNC Financial Services Group Inc. Raises Stake in Horace Mann Educators Corporation (NYSE:HMN)

PNC Financial Services Group Inc. boosted its holdings in Horace Mann Educators Corporation (NYSE:HMN) by 4.0% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,478 shares of the insurance provider’s stock after acquiring an additional 325 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Horace Mann Educators were worth $362,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in HMN. Price T Rowe Associates Inc. MD lifted its stake in shares of Horace Mann Educators by 183.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,162,264 shares of the insurance provider’s stock valued at $84,827,000 after purchasing an additional 1,400,210 shares during the period. GAMMA Investing LLC increased its position in Horace Mann Educators by 7,143.4% during the first quarter. GAMMA Investing LLC now owns 115,243 shares of the insurance provider’s stock valued at $49,240,000 after acquiring an additional 113,652 shares during the last quarter. Deutsche Bank AG boosted its position in Horace Mann Educators by 293.0% in the fourth quarter. Deutsche Bank AG now owns 92,035 shares of the insurance provider’s stock worth $3,611,000 after purchasing an additional 68,617 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Horace Mann Educators by 51.8% in the fourth quarter. JPMorgan Chase & Co. now owns 159,470 shares of the insurance provider’s stock worth $6,256,000 after purchasing an additional 54,443 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Horace Mann Educators by 1.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,659,695 shares of the insurance provider’s stock valued at $104,340,000 after purchasing an additional 47,074 shares during the period. 99.28% of the stock is currently owned by institutional investors.

Horace Mann Educators Stock Performance

Shares of HMN opened at $44.49 on Friday. Horace Mann Educators Corporation has a one year low of $33.00 and a one year high of $45.27. The company has a 50-day moving average of $42.25 and a two-hundred day moving average of $41.75. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of 13.16 and a beta of 0.27. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.09 and a quick ratio of 0.09.

Horace Mann Educators (NYSE:HMN) last announced its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.45. The business had revenue of $302.60 million for the quarter, compared to the consensus estimate of $425.35 million. Horace Mann Educators had a net margin of 8.49% and a return on equity of 14.23%. Horace Mann Educators’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the company posted $0.20 earnings per share. On average, equities research analysts expect that Horace Mann Educators Corporation will post 3.87 earnings per share for the current year.

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Wall Street Zen downgraded shares of Horace Mann Educators from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 2nd. BMO Capital Markets set a $48.00 price objective on shares of Horace Mann Educators and gave the company an “outperform” rating in a report on Monday, July 28th. Piper Sandler boosted 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. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of Horace Mann Educators in a research report on Thursday, May 15th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $46.75.

Insiders Place Their Bets

In other Horace Mann Educators news, EVP Bret A. Conklin sold 4,760 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $42.90, for a total transaction of $204,204.00. Following the completion of the transaction, the executive vice president owned 58,587 shares of the company’s stock, valued at $2,513,382.30. This represents a 7.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Marita Zuraitis sold 5,000 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $42.28, for a total value of $211,400.00. Following the completion of the sale, the chief executive officer directly owned 302,155 shares of the company’s stock, valued at approximately $12,775,113.40. The trade was a 1.63% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 51,198 shares of company stock valued at $2,210,975. 4.00% of the stock is currently owned by insiders.

Horace Mann Educators Company 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.