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

Connable Office Inc. decreased its holdings in Horace Mann Educators Co. (NYSE:HMN) by 8.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor 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 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Louisiana State Employees Retirement System boosted its stake in shares of Horace Mann Educators by 2.0% during the 2nd 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 last quarter. Texas Permanent School Fund Corp boosted its stake in Horace Mann Educators by 1.3% during 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 last quarter. Natixis Advisors LLC grew its holdings in Horace Mann Educators by 2.2% during the 2nd quarter. Natixis Advisors LLC now owns 22,333 shares of the insurance provider’s stock worth $729,000 after acquiring an additional 473 shares in the last quarter. Bessemer Group Inc. increased its position in shares of Horace Mann Educators by 228.9% in the 1st quarter. Bessemer Group Inc. now owns 694 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 483 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Horace Mann Educators by 142.1% in 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 during the last quarter. Hedge funds and other institutional investors own 99.28% of the company’s stock.

Horace Mann Educators Stock Performance

Shares of NYSE HMN opened at $40.93 on Friday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.42. The firm’s 50-day moving average price is $36.50 and its two-hundred day moving average price is $35.05. Horace Mann Educators Co. has a 52-week low of $31.81 and a 52-week high of $43.26. The stock has a market capitalization of $1.67 billion, a P/E ratio of 16.31 and a beta of 0.27.

Horace Mann Educators (NYSE:HMN) last announced its quarterly earnings results on Monday, November 4th. The insurance provider reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.04. The business 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 business’s revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the business posted $0.44 EPS. As a group, sell-side analysts forecast that Horace Mann Educators Co. will post 2.61 earnings per share for the current year.

Horace Mann Educators Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on HMN. Keefe, Bruyette & Woods downgraded Horace Mann Educators from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $39.00 to $44.00 in a research note on Tuesday. Piper Sandler lifted their target price on Horace Mann Educators from $36.00 to $42.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Finally, Raymond James initiated coverage on Horace Mann Educators in a research report on Tuesday, August 6th. They set a “strong-buy” rating and a $42.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. According to MarketBeat, Horace Mann Educators presently has a consensus rating of “Hold” and an average price target of $42.67.

Insider Activity at Horace Mann Educators

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

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.