Horace Mann Educators (NYSE:HMN) Cut to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Horace Mann Educators (NYSE:HMN) from a strong-buy rating to a hold rating in a research report report published on Tuesday, December 26th.

According to Zacks, “Horace Mann Educators Corporation is a multiline insurance holding company that targets the US educator market. The company and its subsidiaries, Horace Mann Insurance Co., Teachers Insurance Co., Horace Mann Life Insurance Co., and Allegiance Insurance Co., provide retirement annuities, automobile insurance, homeowners insurance, and life insurance to elementary and secondary teachers, administrators, and education support personnel in public and private schools. The company also offers group life and health insurance to school districts. “

Several other equities research analysts also recently issued reports on HMN. TheStreet raised Horace Mann Educators from a c+ rating to a b- rating in a research note on Wednesday, September 27th. Keefe, Bruyette & Woods reaffirmed a hold rating on shares of Horace Mann Educators in a research report on Wednesday, December 6th.

Shares of Horace Mann Educators (NYSE:HMN) opened at $44.05 on Tuesday. Horace Mann Educators has a fifty-two week low of $33.85 and a fifty-two week high of $47.65. The company has a market capitalization of $1,795.46, a price-to-earnings ratio of 28.60 and a beta of 1.17. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.18.

Horace Mann Educators (NYSE:HMN) last announced its quarterly earnings data on Tuesday, October 24th. The insurance provider reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.47. The firm had revenue of $289.80 million during the quarter, compared to the consensus estimate of $293.10 million. Horace Mann Educators had a return on equity of 4.94% and a net margin of 5.56%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the business earned $0.58 EPS. sell-side analysts anticipate that Horace Mann Educators will post 1.7 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Monday, December 18th were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date was Friday, December 15th. Horace Mann Educators’s dividend payout ratio is 71.43%.

In other news, Director Robert Stricker sold 3,829 shares of the stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $45.75, for a total transaction of $175,176.75. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 2.10% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Deprince Race & Zollo Inc. bought a new stake in shares of Horace Mann Educators in the 3rd quarter worth approximately $14,014,000. Victory Capital Management Inc. lifted its position in shares of Horace Mann Educators by 16.2% in the 3rd quarter. Victory Capital Management Inc. now owns 1,973,583 shares of the insurance provider’s stock worth $77,661,000 after acquiring an additional 275,740 shares during the period. Channing Capital Management LLC lifted its position in shares of Horace Mann Educators by 17.0% in the 3rd quarter. Channing Capital Management LLC now owns 1,219,629 shares of the insurance provider’s stock worth $47,992,000 after acquiring an additional 176,784 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Horace Mann Educators by 867.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 191,680 shares of the insurance provider’s stock worth $7,543,000 after acquiring an additional 171,872 shares during the period. Finally, Shell Asset Management Co. bought a new stake in shares of Horace Mann Educators in the 3rd quarter worth approximately $4,157,000. 98.26% of the stock is currently owned by hedge funds and other institutional investors.

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About Horace Mann Educators

Horace Mann Educators Corporation (HMEC) is an insurance holding company. Through its subsidiaries, HMEC markets and underwrites personal lines of property and casualty (primarily personal lines automobile and homeowners) insurance, retirement annuities (primarily tax-qualified products) and life insurance in the United States.

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