Palisade Capital Management LLC NJ Decreases Stock Position in Horace Mann Educators Co. (NYSE:HMN)

Palisade Capital Management LLC NJ cut its position in Horace Mann Educators Co. (NYSE:HMN) by 1.0% during the second quarter, Holdings Channel reports. The firm owned 411,186 shares of the insurance provider’s stock after selling 3,961 shares during the period. Palisade Capital Management LLC NJ’s holdings in Horace Mann Educators were worth $15,387,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Great Lakes Advisors LLC grew its holdings in Horace Mann Educators by 3.0% during the second quarter. Great Lakes Advisors LLC now owns 52,534 shares of the insurance provider’s stock worth $1,966,000 after acquiring an additional 1,509 shares during the period. BlackRock Inc. grew its holdings in Horace Mann Educators by 0.6% during the second quarter. BlackRock Inc. now owns 6,078,621 shares of the insurance provider’s stock worth $227,461,000 after acquiring an additional 36,989 shares during the period. Deutsche Bank AG grew its holdings in Horace Mann Educators by 27.3% during the second quarter. Deutsche Bank AG now owns 36,935 shares of the insurance provider’s stock worth $1,381,000 after acquiring an additional 7,924 shares during the period. Susquehanna International Group LLP grew its holdings in Horace Mann Educators by 54.6% during the second quarter. Susquehanna International Group LLP now owns 9,762 shares of the insurance provider’s stock worth $365,000 after acquiring an additional 3,448 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Horace Mann Educators by 0.9% during the second quarter. Principal Financial Group Inc. now owns 287,211 shares of the insurance provider’s stock worth $10,747,000 after acquiring an additional 2,512 shares during the period. 98.80% of the stock is currently owned by institutional investors and hedge funds.

In related news, CEO Marita Zuraitis sold 3,333 shares of Horace Mann Educators stock in a transaction that occurred on Monday, August 16th. The stock was sold at an average price of $40.39, for a total transaction of $134,619.87. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.60% of the company’s stock.

A number of equities analysts have issued reports on the company. Zacks Investment Research upgraded Horace Mann Educators from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research report on Thursday, June 17th. Piper Sandler lowered their price target on Horace Mann Educators from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, July 8th. They noted that the move was a valuation call.

NYSE HMN opened at $39.63 on Friday. The company has a market cap of $1.64 billion, a PE ratio of 9.81 and a beta of 0.63. The stock’s 50 day simple moving average is $40.00 and its 200-day simple moving average is $40.17. Horace Mann Educators Co. has a 1-year low of $32.35 and a 1-year high of $44.74. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.04 and a quick ratio of 0.04.

Horace Mann Educators (NYSE:HMN) last released its earnings results on Sunday, August 1st. The insurance provider reported $1.02 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.01. The business had revenue of $347.10 million for the quarter, compared to the consensus estimate of $336.10 million. Horace Mann Educators had a return on equity of 9.77% and a net margin of 12.54%. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, equities research analysts anticipate that Horace Mann Educators Co. will post 3.7 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 30th. Stockholders of record on Thursday, September 16th will be given a $0.31 dividend. The ex-dividend date is Wednesday, September 15th. This represents a $1.24 annualized dividend and a dividend yield of 3.13%. Horace Mann Educators’s dividend payout ratio (DPR) is presently 36.47%.

Horace Mann Educators Profile

Horace Mann Educators Corp. is an insurance holding company, which engages in the provision of insurance and retirement solutions to the educators and school employees. It operates through the following business segments: Property and Casualty; Supplemental; Retirement, Life, and Corporate and Other.

See Also: Equity Income

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Institutional Ownership by Quarter for Horace Mann Educators (NYSE:HMN)

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