Horace Mann Educators Co. (NYSE:HMN) Raises Dividend to $0.35 Per Share

Horace Mann Educators Co. (NYSE:HMN) announced a quarterly dividend on Monday, March 3rd, RTT News reports. Investors of record on Monday, March 17th will be paid a dividend of 0.35 per share by the insurance provider on Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a yield of 3.26%. This is an increase from Horace Mann Educators’s previous quarterly dividend of $0.34.

Horace Mann Educators has increased its dividend by an average of 3.1% annually over the last three years and has increased its dividend every year for the last 16 years. Horace Mann Educators has a payout ratio of 32.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Horace Mann Educators to earn $4.22 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 32.2%.

Horace Mann Educators Stock Up 1.6 %

Shares of NYSE HMN traded up $0.66 during trading hours on Monday, hitting $42.99. 12,041 shares of the stock were exchanged, compared to its average volume of 182,970. Horace Mann Educators has a 12 month low of $31.81 and a 12 month high of $43.26. The firm has a fifty day moving average price of $39.35 and a 200-day moving average price of $38.15. The company has a quick ratio of 0.09, a current ratio of 0.10 and a debt-to-equity ratio of 0.42. The company has a market cap of $1.75 billion, a PE ratio of 17.34 and a beta of 0.31.

Horace Mann Educators (NYSE:HMN) last issued its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.58. Horace Mann Educators had a return on equity of 10.58% and a net margin of 6.44%. On average, sell-side analysts expect that Horace Mann Educators will post 3.87 EPS for the current year.

Insider Buying and Selling

In other news, CEO Marita Zuraitis sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $37.37, for a total value of $149,480.00. Following the completion of the sale, the chief executive officer now directly owns 294,324 shares in the company, valued at $10,998,887.88. The trade was a 1.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Beverley J. Mcclure sold 2,817 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $38.36, for a total value of $108,060.12. Following the transaction, the director now owns 16,352 shares in the company, valued at $627,262.72. This trade represents a 14.70 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,817 shares of company stock valued at $415,140. 3.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on HMN shares. JMP Securities reissued a “market perform” rating on shares of Horace Mann Educators in a report on Friday, February 7th. Keefe, Bruyette & Woods increased their price objective on shares of Horace Mann Educators from $44.00 to $45.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 11th. Finally, Piper Sandler lifted their price target on Horace Mann Educators from $42.00 to $44.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Four analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $43.67.

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.