Horace Mann Educators (NYSE:HMN) Hits New 12-Month High After Better-Than-Expected Earnings

Shares of Horace Mann Educators Corporation (NYSE:HMN) hit a new 52-week high during trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $48.21 and last traded at $46.8220, with a volume of 46187 shares changing hands. The stock had previously closed at $45.24.

The insurance provider reported $1.18 earnings per share for the quarter. The business had revenue of $330.60 million for the quarter. Horace Mann Educators had a net margin of 8.49% and a return on equity of 14.23%.

Horace Mann Educators Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Tuesday, September 16th. Horace Mann Educators’s dividend payout ratio (DPR) is currently 41.42%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. BMO Capital Markets set a $48.00 price target on shares of Horace Mann Educators and gave the company an “outperform” rating in a research report on Monday, July 28th. Wall Street Zen downgraded shares of Horace Mann Educators from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 2nd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Horace Mann Educators in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $46.75.

Insider Activity at Horace Mann Educators

In related news, General Counsel Donald M. Carley sold 3,500 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $45.94, for a total value of $160,790.00. Following the completion of the transaction, the general counsel directly owned 22,092 shares of the company’s stock, valued at approximately $1,014,906.48. This trade represents a 13.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marita Zuraitis sold 5,000 shares of the firm’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $44.81, for a total transaction of $224,050.00. Following the completion of the transaction, the chief executive officer directly owned 293,788 shares of the company’s stock, valued at $13,164,640.28. This represents a 1.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 13,500 shares of company stock valued at $613,640 over the last ninety days. Company insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On Horace Mann Educators

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Captrust Financial Advisors lifted its holdings in shares of Horace Mann Educators by 3.6% during the second quarter. Captrust Financial Advisors now owns 6,504 shares of the insurance provider’s stock worth $279,000 after buying an additional 229 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Horace Mann Educators by 33.0% during the third quarter. Blue Trust Inc. now owns 1,201 shares of the insurance provider’s stock worth $54,000 after buying an additional 298 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Horace Mann Educators by 4.0% during the first quarter. PNC Financial Services Group Inc. now owns 8,478 shares of the insurance provider’s stock worth $362,000 after buying an additional 325 shares in the last quarter. Martingale Asset Management L P raised its stake in Horace Mann Educators by 0.7% in the first quarter. Martingale Asset Management L P now owns 48,332 shares of the insurance provider’s stock valued at $2,065,000 after purchasing an additional 340 shares in the last quarter. Finally, Versant Capital Management Inc raised its stake in Horace Mann Educators by 36.6% in the third quarter. Versant Capital Management Inc now owns 1,307 shares of the insurance provider’s stock valued at $59,000 after purchasing an additional 350 shares in the last quarter. 99.28% of the stock is owned by institutional investors.

Horace Mann Educators Stock Performance

The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 13.80 and a beta of 0.21. The stock has a 50 day moving average of $45.30 and a 200 day moving average of $43.49. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.40.

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.