Horace Mann Educators (NYSE:HMN) Releases Quarterly Earnings Results, Meets Expectations

Horace Mann Educators (NYSE:HMN) posted its quarterly earnings results on Monday. The insurance provider reported $0.76 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.76, Briefing.com reports. The company had revenue of $412.10 million for the quarter, compared to analysts’ expectations of $293.87 million. Horace Mann Educators had a return on equity of 7.44% and a net margin of 5.24%. Horace Mann Educators’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the firm earned $0.44 earnings per share. Horace Mann Educators updated its FY24 guidance to $2.40-2.70 EPS and its FY 2024 guidance to 2.400-2.700 EPS.

Horace Mann Educators Price Performance

Shares of HMN stock traded up $1.60 during midday trading on Tuesday, reaching $38.98. 155,762 shares of the company traded hands, compared to its average volume of 237,661. The firm’s 50 day simple moving average is $35.56 and its two-hundred day simple moving average is $34.76. Horace Mann Educators has a 1-year low of $31.53 and a 1-year high of $39.48. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.08 and a quick ratio of 0.08. The firm has a market cap of $1.59 billion, a PE ratio of 19.57 and a beta of 0.27.

Horace Mann Educators Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.34 per share. The ex-dividend date was Monday, September 16th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.49%. Horace Mann Educators’s payout ratio is 69.39%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Raymond James assumed coverage on Horace Mann Educators in a report on Tuesday, August 6th. They set a “strong-buy” rating and a $42.00 price target on the stock. Piper Sandler lifted their price objective on Horace Mann Educators from $34.00 to $36.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods lowered their price objective on Horace Mann Educators from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Tuesday, August 13th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Horace Mann Educators has an average rating of “Moderate Buy” and a consensus price target of $39.00.

Insider Activity

In other news, CEO Marita Zuraitis sold 4,000 shares of Horace Mann Educators stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $37.24, for a total transaction of $148,960.00. Following the completion of the sale, the chief executive officer now directly owns 292,336 shares in the company, valued at approximately $10,886,592.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.80% of the company’s stock.

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.