Horace Mann Educators (NYSE:HMN) Shares Gap Down on Analyst Downgrade

Shares of Horace Mann Educators Co. (NYSE:HMN) gapped down before the market opened on Friday after Keefe, Bruyette & Woods lowered their price target on the stock from $42.00 to $40.00. The stock had previously closed at $34.57, but opened at $32.64. Keefe, Bruyette & Woods currently has an outperform rating on the stock. Horace Mann Educators shares last traded at $33.52, with a volume of 28,733 shares traded.

A number of other equities analysts also recently commented on the stock. JMP Securities restated a “market perform” rating on shares of Horace Mann Educators in a research note on Tuesday, June 18th. Piper Sandler lowered their price target on Horace Mann Educators from $37.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, June 28th. Finally, StockNews.com downgraded Horace Mann Educators from a “buy” rating to a “hold” rating in a report on Tuesday, April 16th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Horace Mann Educators presently has a consensus rating of “Hold” and a consensus price target of $37.50.

Institutional Investors Weigh In On Horace Mann Educators

Several hedge funds have recently bought and sold shares of HMN. Louisiana State Employees Retirement System raised its stake in Horace Mann Educators by 2.0% in the second quarter. Louisiana State Employees Retirement System now owns 20,600 shares of the insurance provider’s stock valued at $672,000 after buying an additional 400 shares during the period. Texas Permanent School Fund Corp raised its stake in Horace Mann Educators by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 35,740 shares of the insurance provider’s stock valued at $1,322,000 after acquiring an additional 464 shares during the period. Bessemer Group Inc. lifted its holdings in Horace Mann Educators by 228.9% during the 1st quarter. Bessemer Group Inc. now owns 694 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 483 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Horace Mann Educators by 6.1% in the fourth quarter. Victory Capital Management Inc. now owns 9,474 shares of the insurance provider’s stock valued at $310,000 after purchasing an additional 544 shares during the last quarter. Finally, TFO Wealth Partners LLC raised its position in shares of Horace Mann Educators by 6,084.6% in the fourth quarter. TFO Wealth Partners LLC now owns 804 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 791 shares during the period. 99.28% of the stock is currently owned by institutional investors and hedge funds.

Horace Mann Educators Trading Down 2.8 %

The company has a market cap of $1.38 billion, a price-to-earnings ratio of 22.15 and a beta of 0.28. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.45. The business’s 50 day moving average price is $33.60 and its 200-day moving average price is $35.04.

Horace Mann Educators (NYSE:HMN) last issued its quarterly earnings data on Wednesday, May 8th. The insurance provider reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.17). Horace Mann Educators had a return on equity of 6.95% and a net margin of 4.26%. The company had revenue of $386.00 million for the quarter, compared to analyst estimates of $398.35 million. On average, equities analysts anticipate that Horace Mann Educators Co. will post 2.95 EPS for the current fiscal year.

Horace Mann Educators Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Thursday, June 13th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend was Thursday, June 13th. Horace Mann Educators’s payout ratio is 87.18%.

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.