Hsbc Holdings PLC Cuts Position in Horace Mann Educators Corporation $HMN

Hsbc Holdings PLC decreased its position in Horace Mann Educators Corporation (NYSE:HMN) by 79.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,816 shares of the insurance provider’s stock after selling 27,062 shares during the quarter. Hsbc Holdings PLC’s holdings in Horace Mann Educators were worth $292,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in Horace Mann Educators in the first quarter valued at approximately $693,000. Assenagon Asset Management S.A. purchased a new stake in Horace Mann Educators in the first quarter valued at approximately $275,000. Victory Capital Management Inc. raised its position in Horace Mann Educators by 55.1% in the first quarter. Victory Capital Management Inc. now owns 33,644 shares of the insurance provider’s stock valued at $1,438,000 after purchasing an additional 11,954 shares during the period. Jane Street Group LLC raised its position in Horace Mann Educators by 41.4% in the fourth quarter. Jane Street Group LLC now owns 22,148 shares of the insurance provider’s stock valued at $869,000 after purchasing an additional 6,483 shares during the period. Finally, GAMMA Investing LLC raised its position in Horace Mann Educators by 69.5% in the first quarter. GAMMA Investing LLC now owns 2,697 shares of the insurance provider’s stock valued at $115,000 after purchasing an additional 1,106 shares during the period. Hedge funds and other institutional investors own 99.28% of the company’s stock.

Horace Mann Educators Stock Performance

Shares of HMN stock opened at $46.95 on Friday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.40. The firm has a fifty day moving average price of $43.13 and a 200 day moving average price of $42.29. The company has a market cap of $1.91 billion, a P/E ratio of 13.89 and a beta of 0.27. Horace Mann Educators Corporation has a 12 month low of $33.00 and a 12 month high of $46.96.

Horace Mann Educators (NYSE:HMN) last issued its earnings results on Wednesday, August 6th. The insurance provider reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.45. The firm had revenue of $302.60 million during 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%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.20 earnings per share. Sell-side analysts predict that Horace Mann Educators Corporation will post 3.87 earnings per share for the current fiscal year.

Horace Mann Educators declared that its board has initiated a stock repurchase plan on Tuesday, May 13th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the insurance provider to reacquire up to 3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Horace Mann Educators Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a dividend of $0.35 per share. The ex-dividend date is Tuesday, September 16th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.0%. Horace Mann Educators’s payout ratio is presently 41.42%.

Insider Buying and Selling at Horace Mann Educators

In other Horace Mann Educators news, CEO Marita Zuraitis sold 5,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer owned 302,155 shares in the company, valued at $12,775,113.40. This represents a 1.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Donald M. Carley sold 3,500 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $45.94, for a total transaction of $160,790.00. Following the completion of the transaction, the general counsel owned 22,092 shares of the company’s stock, valued at $1,014,906.48. This represents a 13.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,500 shares of company stock valued at $815,340 in the last 90 days. 4.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have issued reports on HMN shares. Piper Sandler boosted their target price on Horace Mann Educators from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, July 3rd. BMO Capital Markets set a $48.00 price objective on Horace Mann Educators and gave the stock an “outperform” rating in a research report on Monday, July 28th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Horace Mann Educators in a research report on Thursday, May 15th. Finally, Wall Street Zen lowered Horace Mann Educators from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 2nd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Horace Mann Educators currently has an average rating of “Moderate Buy” and a consensus price target of $46.75.

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.