Horace Mann Educators (NYSE:HMN) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Horace Mann Educators (NYSE:HMN) from a hold rating to a buy rating in a report released on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $44.00 target price on the insurance provider’s stock.

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. “

Separately, Raymond James assumed coverage on Horace Mann Educators in a research note on Thursday, February 18th. They set a market perform rating for the company.

Shares of NYSE HMN opened at $38.27 on Tuesday. Horace Mann Educators has a one year low of $32.35 and a one year high of $44.74. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 10.46 and a beta of 0.62. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.05 and a quick ratio of 0.05. The business’s 50-day simple moving average is $40.33.

Horace Mann Educators (NYSE:HMN) last posted its quarterly earnings results on Tuesday, May 4th. The insurance provider reported $1.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.30. Horace Mann Educators had a return on equity of 9.15% and a net margin of 11.62%. The company had revenue of $322.00 million during the quarter, compared to the consensus estimate of $327.27 million. During the same period last year, the business earned $0.78 EPS. The business’s quarterly revenue was up 4.8% on a year-over-year basis. On average, equities research analysts forecast that Horace Mann Educators will post 3.3 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 30th. Investors of record on Wednesday, June 16th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend is Tuesday, June 15th. Horace Mann Educators’s payout ratio is 36.47%.

In related news, EVP Matthew P. Sharpe sold 987 shares of the firm’s stock in a transaction that occurred on Monday, March 15th. The stock was sold at an average price of $43.90, for a total value of $43,329.30. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Marita Zuraitis sold 3,333 shares of the firm’s stock in a transaction that occurred on Monday, March 15th. The shares were sold at an average price of $43.90, for a total value of $146,318.70. The disclosure for this sale can be found here. Insiders sold a total of 8,203 shares of company stock worth $355,503 over the last three months. 2.60% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Prudential Financial Inc. grew its holdings in Horace Mann Educators by 0.6% in the 1st quarter. Prudential Financial Inc. now owns 48,337 shares of the insurance provider’s stock valued at $2,089,000 after buying an additional 277 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in Horace Mann Educators by 1.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 16,996 shares of the insurance provider’s stock valued at $734,000 after buying an additional 300 shares during the last quarter. Commerce Bank grew its holdings in Horace Mann Educators by 2.4% in the 1st quarter. Commerce Bank now owns 13,910 shares of the insurance provider’s stock valued at $601,000 after buying an additional 330 shares during the last quarter. Private Capital Group LLC grew its holdings in Horace Mann Educators by 49.4% in the 1st quarter. Private Capital Group LLC now owns 1,046 shares of the insurance provider’s stock valued at $45,000 after buying an additional 346 shares during the last quarter. Finally, Mutual of America Capital Management LLC grew its holdings in Horace Mann Educators by 7.0% in the 1st quarter. Mutual of America Capital Management LLC now owns 5,532 shares of the insurance provider’s stock valued at $239,000 after buying an additional 360 shares during the last quarter. 99.99% of the stock is currently owned by hedge funds and other institutional investors.

Horace Mann Educators Company Profile

Horace Mann Educators Corporation, together with its subsidiaries, operates as a multiline insurance company in the United States. The Company operates through five segments: Property and Casualty, Supplemental, Retirement, Life, and Corporate and Other. It underwrites and markets personal lines of property and casualty insurance, including personal lines automobile and property insurance products; supplemental insurance products, which includes cancer, heart, hospital, supplemental disability, and accident coverages; retirement products, such as tax-qualified fixed and variable annuities; and life insurance products comprising whole life and term and indexed universal life insurance.

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