Connable Office Inc. Reduces Stock Holdings in Horace Mann Educators Co. (NYSE:HMN)

Connable Office Inc. lessened its position in shares of Horace Mann Educators Co. (NYSE:HMN) by 8.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,354 shares of the insurance provider’s stock after selling 914 shares during the quarter. Connable Office Inc.’s holdings in Horace Mann Educators were worth $362,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bessemer Group Inc. raised its position in Horace Mann Educators by 228.9% during the first quarter. Bessemer Group Inc. now owns 694 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 483 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Horace Mann Educators by 142.1% during the 3rd quarter. GAMMA Investing LLC now owns 920 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 540 shares in the last quarter. Quarry LP raised its position in shares of Horace Mann Educators by 1,798.0% during the 2nd quarter. Quarry LP now owns 949 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 899 shares during the last quarter. Summit Securities Group LLC purchased a new stake in Horace Mann Educators in the 2nd quarter valued at approximately $35,000. Finally, KBC Group NV grew its holdings in Horace Mann Educators by 60.2% during the 3rd quarter. KBC Group NV now owns 1,671 shares of the insurance provider’s stock valued at $58,000 after buying an additional 628 shares during the last quarter. 99.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HMN has been the subject of a number of recent research reports. Raymond James assumed coverage on Horace Mann Educators in a research report on Tuesday, August 6th. They set a “strong-buy” rating and a $42.00 price objective for the company. Keefe, Bruyette & Woods lowered shares of Horace Mann Educators from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $39.00 to $44.00 in a research report on Tuesday. Finally, Piper Sandler upped their price objective on shares of Horace Mann Educators from $36.00 to $42.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $42.67.

Horace Mann Educators Trading Up 0.2 %

NYSE HMN opened at $40.93 on Friday. The company has a market cap of $1.67 billion, a P/E ratio of 16.31 and a beta of 0.27. Horace Mann Educators Co. has a 12 month low of $31.81 and a 12 month high of $43.26. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.09 and a quick ratio of 0.09. The company has a 50-day moving average of $36.50 and a 200-day moving average of $35.05.

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

Horace Mann Educators Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.32%. The ex-dividend date was Monday, September 16th. Horace Mann Educators’s dividend payout ratio is currently 54.18%.

Insider Activity

In other Horace Mann Educators news, CEO Marita Zuraitis sold 4,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $37.24, for a total transaction of $148,960.00. Following the transaction, the chief executive officer now owns 292,336 shares in the company, valued at $10,886,592.64. The trade was a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Beverley J. Mcclure sold 5,634 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $42.08, for a total value of $237,078.72. Following the completion of the sale, the director now owns 19,057 shares of the company’s stock, valued at approximately $801,918.56. This trade represents a 22.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,751 shares of company stock valued at $1,946,895 in the last three months. Corporate insiders own 3.80% 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.