Commerce Bank Trims Position in Horace Mann Educators Co. (NYSE:HMN)

Commerce Bank trimmed its position in Horace Mann Educators Co. (NYSE:HMN) by 3.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 13,680 shares of the insurance provider’s stock after selling 510 shares during the period. Commerce Bank’s holdings in Horace Mann Educators were worth $478,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Harbor Capital Advisors Inc. lifted its stake in Horace Mann Educators by 270.1% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 22,305 shares of the insurance provider’s stock worth $728,000 after purchasing an additional 16,278 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Horace Mann Educators by 10.6% in the third quarter. Principal Financial Group Inc. now owns 223,512 shares of the insurance provider’s stock worth $7,812,000 after purchasing an additional 21,430 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in shares of Horace Mann Educators in the second quarter worth $636,000. Cornercap Investment Counsel Inc. purchased a new position in Horace Mann Educators during the second quarter worth about $508,000. Finally, Hantz Financial Services Inc. bought a new position in Horace Mann Educators in the 2nd quarter worth about $2,037,000. 99.28% of the stock is currently owned by institutional investors.

Horace Mann Educators Stock Up 0.4 %

Shares of HMN opened at $41.42 on Wednesday. Horace Mann Educators Co. has a 1 year low of $31.81 and a 1 year high of $43.26. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.09 and a quick ratio of 0.09. The stock has a 50 day simple moving average of $37.47 and a two-hundred day simple moving average of $35.17. The firm has a market cap of $1.69 billion, a P/E ratio of 16.50 and a beta of 0.27.

Horace Mann Educators (NYSE:HMN) last announced its quarterly earnings data on Monday, November 4th. The insurance provider reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.04. The company had revenue of $412.10 million during the quarter, compared to analysts’ expectations of $293.87 million. Horace Mann Educators had a net margin of 6.55% and a return on equity of 8.14%. The firm’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 EPS. On average, analysts forecast that Horace Mann Educators Co. will post 2.61 earnings per share for the current fiscal year.

Horace Mann Educators Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date was Monday, September 16th. Horace Mann Educators’s dividend payout ratio (DPR) is presently 54.18%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Keefe, Bruyette & Woods downgraded Horace Mann Educators from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $39.00 to $44.00 in a research report on Tuesday, November 12th. Raymond James started 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 for the company. Finally, Piper Sandler increased their price target on shares of Horace Mann Educators from $36.00 to $42.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Horace Mann Educators presently has a consensus rating of “Hold” and an average target price of $42.67.

Insider Activity at Horace Mann Educators

In other news, CEO Marita Zuraitis sold 42,117 shares of the stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $37.06, for a total transaction of $1,560,856.02. Following the completion of the sale, the chief executive officer now owns 294,402 shares of the company’s stock, valued at approximately $10,910,538.12. This represents a 12.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Beverley J. Mcclure sold 5,634 shares of Horace Mann Educators stock in a transaction on Monday, November 11th. The stock was sold at an average price of $42.08, for a total transaction of $237,078.72. Following the completion of the transaction, the director now directly owns 19,057 shares in the company, valued at approximately $801,918.56. The trade was a 22.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,751 shares of company stock worth $1,946,895 in the last ninety days. 3.80% of the stock is owned by company insiders.

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.