Keefe, Bruyette & Woods Downgrades Horace Mann Educators (NYSE:HMN) to Market Perform

Horace Mann Educators (NYSE:HMN) was downgraded by stock analysts at Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a note issued to investors on Tuesday, Marketbeat reports. They presently have a $44.00 price target on the insurance provider’s stock, up from their previous price target of $39.00. Keefe, Bruyette & Woods’ price objective points to a potential upside of 7.79% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Piper Sandler boosted their target price on Horace Mann Educators from $36.00 to $42.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Raymond James initiated coverage on Horace Mann Educators in a research report on Tuesday, August 6th. They issued a “strong-buy” rating and a $42.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $42.67.

Horace Mann Educators Stock Down 2.9 %

Shares of NYSE:HMN opened at $40.82 on Tuesday. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 16.26 and a beta of 0.27. The business’s 50 day moving average is $36.39 and its 200 day moving average is $35.00. Horace Mann Educators has a 12-month low of $31.81 and a 12-month high of $43.26. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.42.

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

Insider Transactions at Horace Mann Educators

In related news, Director Beverley J. Mcclure sold 5,634 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $42.08, for a total value of $237,078.72. Following the sale, the director now directly owns 19,057 shares in the company, valued at approximately $801,918.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Beverley J. Mcclure sold 5,634 shares of Horace Mann Educators stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $42.08, for a total value 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 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marita Zuraitis sold 4,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 292,336 shares in the company, valued at $10,886,592.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,751 shares of company stock worth $1,946,895. 3.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Horace Mann Educators

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. boosted its position in shares of Horace Mann Educators by 129.0% in the third quarter. Assenagon Asset Management S.A. now owns 291,164 shares of the insurance provider’s stock valued at $10,176,000 after acquiring an additional 164,036 shares during the period. Deprince Race & Zollo Inc. grew its position in shares of Horace Mann Educators by 8.7% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,083,715 shares of the insurance provider’s stock valued at $35,351,000 after purchasing an additional 86,766 shares in the last quarter. Arjuna Capital bought a new position in shares of Horace Mann Educators in the first quarter worth $2,858,000. Bank of Montreal Can increased its holdings in shares of Horace Mann Educators by 476.8% in the second quarter. Bank of Montreal Can now owns 77,527 shares of the insurance provider’s stock worth $2,571,000 after purchasing an additional 64,087 shares during the period. Finally, Hantz Financial Services Inc. purchased a new stake in shares of Horace Mann Educators in the second quarter worth $2,037,000. 99.28% of the stock is currently owned by institutional investors.

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.