Cornercap Investment Counsel Inc. Sells 1,842 Shares of Horace Mann Educators Co. (NYSE:HMN)

Cornercap Investment Counsel Inc. cut its stake in shares of Horace Mann Educators Co. (NYSE:HMN) by 11.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 13,722 shares of the insurance provider’s stock after selling 1,842 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Horace Mann Educators were worth $480,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. bought a new position in Horace Mann Educators during the first quarter worth $233,000. SG Americas Securities LLC purchased a new position in Horace Mann Educators during the first quarter valued at approximately $176,000. State Board of Administration of Florida Retirement System grew its stake in Horace Mann Educators by 14.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 13,452 shares of the insurance provider’s stock valued at $498,000 after acquiring an additional 1,710 shares in the last quarter. UniSuper Management Pty Ltd purchased a new position in Horace Mann Educators during the first quarter valued at approximately $356,000. Finally, Bessemer Group Inc. grew its stake in Horace Mann Educators by 228.9% during the first quarter. Bessemer Group Inc. now owns 694 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 483 shares in the last quarter. 99.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Raymond James assumed 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. Keefe, Bruyette & Woods lowered shares of Horace Mann Educators from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $39.00 to $44.00 in a research report on Tuesday, November 12th. Finally, Piper Sandler boosted their price objective 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 analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $42.67.

Insider Buying and Selling 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 shares were sold at an average price of $37.06, for a total value of $1,560,856.02. Following the transaction, the chief executive officer now owns 294,402 shares in the company, valued at $10,910,538.12. This represents a 12.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Beverley J. Mcclure sold 5,634 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 19,057 shares of the company’s stock, valued at $801,918.56. This represents a 22.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,751 shares of company stock worth $1,946,895. Company insiders own 3.80% of the company’s stock.

Horace Mann Educators Stock Up 0.9 %

Shares of NYSE HMN opened at $41.30 on Friday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.42. The firm’s fifty day moving average is $36.62 and its 200 day moving average is $35.06. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 16.45 and a beta of 0.27. Horace Mann Educators Co. has a 52 week low of $31.81 and a 52 week high of $43.26.

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

Horace Mann Educators Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend was Monday, September 16th. Horace Mann Educators’s dividend payout ratio is currently 54.18%.

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.