Horace Mann Educators (NYSE:HMN) Downgraded to “Market Perform” Rating by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods downgraded shares of Horace Mann Educators (NYSE:HMN) from an outperform rating to a market perform rating in a research note published on Tuesday morning, MarketBeat.com reports. They currently have $44.00 price objective on the insurance provider’s stock, up from their previous price objective of $39.00.

Other equities analysts also recently issued research reports about the company. Piper Sandler upped their price objective on Horace Mann Educators from $36.00 to $42.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Raymond James assumed coverage on Horace Mann Educators in a report on Tuesday, August 6th. They issued a “strong-buy” rating and a $42.00 target price for the company. Four research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Horace Mann Educators presently has a consensus rating of “Hold” and a consensus target price of $42.67.

Horace Mann Educators Stock Performance

NYSE HMN opened at $42.06 on Tuesday. The company has a market cap of $1.71 billion, a P/E ratio of 16.76 and a beta of 0.27. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.09 and a current ratio of 0.09. The business’s 50 day moving average price is $36.29 and its 200-day moving average price is $34.96. Horace Mann Educators has a fifty-two week low of $31.81 and a fifty-two week high of $43.26.

Horace Mann Educators (NYSE:HMN) last released its earnings results on Monday, November 4th. The insurance provider reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.04. The firm had revenue of $412.10 million for the quarter, compared to the consensus estimate of $293.87 million. Horace Mann Educators had a return on equity of 8.14% and a net margin of 6.55%. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS. Sell-side analysts predict that Horace Mann Educators will post 2.61 earnings per share for the current year.

Horace Mann Educators Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend was Monday, September 16th. Horace Mann Educators’s dividend payout ratio (DPR) is currently 54.18%.

Insider Buying and Selling

In related news, CEO Marita Zuraitis sold 4,000 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $37.24, for a total transaction of $148,960.00. Following the completion of the sale, the chief executive officer now directly owns 292,336 shares in the company, valued at $10,886,592.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 3.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Horace Mann Educators by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 558,310 shares of the insurance provider’s stock valued at $19,513,000 after purchasing an additional 6,254 shares during the period. Intech Investment Management LLC increased its holdings in shares of Horace Mann Educators by 34.6% in the third quarter. Intech Investment Management LLC now owns 22,748 shares of the insurance provider’s stock valued at $795,000 after purchasing an additional 5,851 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Horace Mann Educators by 28.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 26,683 shares of the insurance provider’s stock valued at $933,000 after purchasing an additional 5,953 shares during the period. Empowered Funds LLC increased its holdings in shares of Horace Mann Educators by 5.4% in the third quarter. Empowered Funds LLC now owns 163,047 shares of the insurance provider’s stock valued at $5,698,000 after purchasing an additional 8,308 shares during the period. Finally, KBC Group NV increased its holdings in shares of Horace Mann Educators by 60.2% in the third quarter. KBC Group NV now owns 1,671 shares of the insurance provider’s stock valued at $58,000 after purchasing an additional 628 shares during the period. 99.28% of the stock is owned by institutional investors and hedge funds.

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.