Horace Mann Educators Co. (NYSE:HMN – Get Free Report) was the recipient of a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 666,800 shares, a drop of 21.1% from the February 13th total of 844,900 shares. Based on an average daily volume of 198,400 shares, the short-interest ratio is currently 3.4 days. Currently, 1.6% of the shares of the stock are sold short.
Insider Activity at Horace Mann Educators
In other news, Director Beverley J. Mcclure sold 2,817 shares of Horace Mann Educators stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $38.36, for a total transaction of $108,060.12. Following the completion of the sale, the director now owns 16,352 shares in the company, valued at $627,262.72. The trade was a 14.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Marita Zuraitis sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $39.40, for a total transaction of $157,600.00. Following the transaction, the chief executive officer now owns 298,324 shares of the company’s stock, valued at approximately $11,753,965.60. This represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,817 shares of company stock valued at $415,140 in the last ninety days. Insiders own 3.80% of the company’s stock.
Institutional Trading of Horace Mann Educators
A number of institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can lifted its position in Horace Mann Educators by 2.1% during the fourth quarter. Bank of Montreal Can now owns 13,269 shares of the insurance provider’s stock valued at $521,000 after buying an additional 272 shares during the period. Victory Capital Management Inc. boosted its position in Horace Mann Educators by 1.4% in the fourth quarter. Victory Capital Management Inc. now owns 21,690 shares of the insurance provider’s stock worth $851,000 after purchasing an additional 305 shares during the last quarter. Sit Investment Associates Inc. boosted its position in Horace Mann Educators by 1.9% in the fourth quarter. Sit Investment Associates Inc. now owns 21,825 shares of the insurance provider’s stock worth $856,000 after purchasing an additional 400 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in Horace Mann Educators by 1.2% in the fourth quarter. Harbor Capital Advisors Inc. now owns 50,873 shares of the insurance provider’s stock worth $1,996,000 after purchasing an additional 581 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in Horace Mann Educators by 389.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 779 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 620 shares during the last quarter. Hedge funds and other institutional investors own 99.28% of the company’s stock.
Horace Mann Educators Stock Up 0.8 %
Horace Mann Educators (NYSE:HMN – Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.58. Horace Mann Educators had a net margin of 6.44% and a return on equity of 10.58%. As a group, sell-side analysts forecast that Horace Mann Educators will post 3.87 earnings per share for the current fiscal year.
Horace Mann Educators Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a dividend of $0.35 per share. This is a boost from Horace Mann Educators’s previous quarterly dividend of $0.34. This represents a $1.40 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date is Monday, March 17th. Horace Mann Educators’s dividend payout ratio (DPR) is presently 56.45%.
Wall Street Analyst Weigh In
Several analysts have issued reports on HMN shares. Keefe, Bruyette & Woods upped their price target on shares of Horace Mann Educators from $44.00 to $45.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 11th. Piper Sandler raised their target price on shares of Horace Mann Educators from $42.00 to $44.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Finally, JMP Securities reissued a “market perform” rating on shares of Horace Mann Educators in a 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 presently has a consensus rating of “Hold” and a consensus target price of $43.67.
Read Our Latest Research Report on Horace Mann Educators
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.
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