Horace Mann Educators (NYSE:HMN) Hits New 1-Year High on Earnings Beat

Horace Mann Educators Co. (NYSE:HMN)’s share price hit a new 52-week high during trading on Tuesday following a better than expected earnings announcement. The stock traded as high as $39.48 and last traded at $38.62, with a volume of 5108 shares changing hands. The stock had previously closed at $37.38.

The insurance provider reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.04. Horace Mann Educators had a return on equity of 8.29% and a net margin of 6.55%. The business had revenue of $412.10 million for the quarter, compared to analyst estimates of $293.87 million. During the same period in the prior year, the company earned $0.44 EPS. Horace Mann Educators’s revenue for the quarter was up 8.8% on a year-over-year basis.

Horace Mann Educators Announces Dividend

The firm also recently declared 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 of this dividend was Monday, September 16th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.19%. Horace Mann Educators’s dividend payout ratio is 54.18%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Piper Sandler increased their price objective on shares of Horace Mann Educators from $36.00 to $42.00 and gave the stock a “neutral” rating in a report on Wednesday. Raymond James began coverage on shares of Horace Mann Educators in a research report on Tuesday, August 6th. They set a “strong-buy” rating and a $42.00 target price on the stock. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Horace Mann Educators from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Tuesday, August 13th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

Insiders Place Their Bets

In other news, CEO Marita Zuraitis sold 4,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $37.24, for a total value of $148,960.00. Following the transaction, the chief executive officer now owns 292,336 shares of the company’s stock, valued at approximately $10,886,592.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Horace Mann Educators

Institutional investors have recently made changes to their positions in the stock. Bessemer Group Inc. boosted its holdings in Horace Mann Educators by 228.9% during the first quarter. Bessemer Group Inc. now owns 694 shares of the insurance provider’s stock worth $27,000 after buying an additional 483 shares during the last quarter. Quarry LP raised its position in shares of Horace Mann Educators by 1,798.0% in the 2nd quarter. Quarry LP now owns 949 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 899 shares during the period. GAMMA Investing LLC boosted its stake in Horace Mann Educators by 142.1% during the 3rd quarter. GAMMA Investing LLC now owns 920 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 540 shares during the last quarter. Summit Securities Group LLC acquired a new position in Horace Mann Educators during the second quarter valued at approximately $35,000. Finally, KBC Group NV increased its stake 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 valued at $58,000 after purchasing an additional 628 shares in the last quarter. 99.28% of the stock is owned by institutional investors and hedge funds.

Horace Mann Educators Trading Up 8.5 %

The company’s fifty day simple moving average is $35.81 and its two-hundred day simple moving average is $34.84. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 16.98 and a beta of 0.27. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.45.

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.