Horace Mann Educators (NYSE:HMN) PT Lowered to $39.00 at Piper Sandler

Horace Mann Educators (NYSE:HMN) had its price target cut by Piper Sandler from $40.00 to $39.00 in a report published on Friday, Benzinga reports. They currently have a neutral rating on the insurance provider’s stock.

Other equities analysts have also recently issued research reports about the company. StockNews.com raised Horace Mann Educators from a hold rating to a buy rating in a report on Friday, March 29th. Keefe, Bruyette & Woods raised Horace Mann Educators from a market perform rating to an outperform rating and upped their target price for the stock from $33.00 to $40.00 in a report on Monday, January 29th. Finally, TheStreet raised Horace Mann Educators from a c rating to a b rating in a report on Wednesday, February 7th.

Horace Mann Educators Price Performance

Horace Mann Educators stock opened at $35.66 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.09 and a current ratio of 0.09. Horace Mann Educators has a 52 week low of $27.81 and a 52 week high of $38.29. The stock has a market capitalization of $1.46 billion, a P/E ratio of 33.02 and a beta of 0.28. The stock has a fifty day moving average of $36.16 and a 200-day moving average of $33.70.

Horace Mann Educators (NYSE:HMN) last posted its quarterly earnings results on Wednesday, February 7th. The insurance provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.19. Horace Mann Educators had a return on equity of 5.71% and a net margin of 3.02%. The company had revenue of $402.90 million during the quarter, compared to analysts’ expectations of $394.40 million. On average, sell-side analysts expect that Horace Mann Educators will post 3.15 earnings per share for the current fiscal year.

Horace Mann Educators Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.34 dividend. This is a boost from Horace Mann Educators’s previous quarterly dividend of $0.33. The ex-dividend date was Thursday, March 14th. This represents a $1.36 annualized dividend and a dividend yield of 3.81%. Horace Mann Educators’s dividend payout ratio is presently 125.93%.

Insider Activity at Horace Mann Educators

In related news, CEO Marita Zuraitis sold 50,098 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $37.09, for a total transaction of $1,858,134.82. Following the sale, the chief executive officer now owns 279,600 shares in the company, valued at approximately $10,370,364. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Horace Mann Educators news, CFO Bret A. Conklin sold 9,689 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $35.80, for a total value of $346,866.20. Following the transaction, the chief financial officer now owns 63,922 shares in the company, valued at $2,288,407.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Marita Zuraitis sold 50,098 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $37.09, for a total value of $1,858,134.82. Following the completion of the transaction, the chief executive officer now owns 279,600 shares in the company, valued at approximately $10,370,364. The disclosure for this sale can be found here. Insiders have sold a total of 73,077 shares of company stock worth $2,682,021 in the last 90 days. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in HMN. Advisor Group Holdings Inc. raised its stake in shares of Horace Mann Educators by 10.3% in the first quarter. Advisor Group Holdings Inc. now owns 9,183 shares of the insurance provider’s stock worth $384,000 after purchasing an additional 861 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Horace Mann Educators by 38.2% in the first quarter. JPMorgan Chase & Co. now owns 159,434 shares of the insurance provider’s stock worth $6,670,000 after purchasing an additional 44,088 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Horace Mann Educators by 2.2% in the first quarter. Bank of New York Mellon Corp now owns 598,357 shares of the insurance provider’s stock worth $25,029,000 after purchasing an additional 12,787 shares during the last quarter. Citigroup Inc. raised its stake in shares of Horace Mann Educators by 9.7% in the first quarter. Citigroup Inc. now owns 35,896 shares of the insurance provider’s stock worth $1,502,000 after purchasing an additional 3,173 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Horace Mann Educators by 21.9% in the first quarter. PNC Financial Services Group Inc. now owns 12,224 shares of the insurance provider’s stock worth $512,000 after purchasing an additional 2,198 shares during the last quarter. Institutional investors own 99.28% 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.