Hotchkis & Wiley Capital Management LLC Trims Stake in Horace Mann Educators Co. (NYSE:HMN)

Hotchkis & Wiley Capital Management LLC cut its stake in Horace Mann Educators Co. (NYSE:HMN) by 1.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 980,515 shares of the insurance provider’s stock after selling 11,900 shares during the period. Hotchkis & Wiley Capital Management LLC’s holdings in Horace Mann Educators were worth $34,269,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in Horace Mann Educators by 142.1% in the third quarter. GAMMA Investing LLC now owns 920 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 540 shares in the last quarter. Quarry LP grew its position in Horace Mann Educators by 1,798.0% during the 2nd quarter. Quarry LP now owns 949 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 899 shares during the last quarter. Summit Securities Group LLC bought a new stake in Horace Mann Educators during the 2nd quarter valued at about $35,000. KBC Group NV raised its holdings in Horace Mann Educators by 60.2% in the third quarter. KBC Group NV now owns 1,671 shares of the insurance provider’s stock worth $58,000 after buying an additional 628 shares during the last quarter. Finally, nVerses Capital LLC bought a new position in shares of Horace Mann Educators in the second quarter worth approximately $59,000. Hedge funds and other institutional investors own 99.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on HMN. 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 stock from $39.00 to $44.00 in a report on Tuesday, November 12th. Raymond James started coverage on Horace Mann Educators in a report on Tuesday, August 6th. They set a “strong-buy” rating and a $42.00 price target on the stock. Finally, Piper Sandler lifted their price objective on Horace Mann Educators from $36.00 to $42.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Horace Mann Educators presently has a consensus rating of “Hold” and an average target price of $42.67.

Horace Mann Educators Price Performance

NYSE HMN opened at $41.12 on Tuesday. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 16.38 and a beta of 0.30. Horace Mann Educators Co. has a 1-year low of $31.81 and a 1-year 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 business’s fifty day moving average price is $38.05 and its 200-day moving average price is $35.36.

Horace Mann Educators (NYSE:HMN) last announced its 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. Horace Mann Educators had a return on equity of 8.14% and a net margin of 6.55%. The business had revenue of $412.10 million for the quarter, compared to analysts’ expectations of $293.87 million. During the same period last year, the firm posted $0.44 earnings per share. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, equities analysts predict that Horace Mann Educators Co. will post 2.61 earnings per share for the current year.

Insider Activity at Horace Mann Educators

In other news, Director Beverley J. Mcclure sold 5,634 shares of the firm’s stock in a transaction on 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 $801,918.56. This trade represents a 22.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marita Zuraitis sold 42,117 shares of the company’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $37.06, for a total transaction of $1,560,856.02. Following the completion of the transaction, the chief executive officer now directly owns 294,402 shares of the company’s stock, valued at $10,910,538.12. This represents a 12.52 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,751 shares of company stock worth $1,946,895. 3.80% of the stock is owned by company insiders.

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.