Horace Mann Educators (HMN) Upgraded to “Strong-Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Horace Mann Educators (NYSE:HMN) from a hold rating to a strong-buy rating in a report published on Thursday. They currently have $50.00 price objective on the insurance provider’s stock.

According to Zacks, “Horace Mann Educators Corporation is a multiline insurance holding company that targets the US educator market. The company and its subsidiaries, Horace Mann Insurance Co., Teachers Insurance Co., Horace Mann Life Insurance Co., and Allegiance Insurance Co., provide retirement annuities, automobile insurance, homeowners insurance, and life insurance to elementary and secondary teachers, administrators, and education support personnel in public and private schools. The company also offers group life and health insurance to school districts. “

HMN has been the subject of several other research reports. TheStreet raised Horace Mann Educators from a c+ rating to a b- rating in a report on Wednesday, September 27th. Keefe, Bruyette & Woods reissued a hold rating on shares of Horace Mann Educators in a report on Wednesday, December 6th.

Horace Mann Educators (NYSE:HMN) traded up $0.60 during trading hours on Thursday, reaching $44.70. The company’s stock had a trading volume of 123,862 shares, compared to its average volume of 136,723. Horace Mann Educators has a twelve month low of $33.85 and a twelve month high of $47.65. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $1,820.00, a price-to-earnings ratio of 29.03 and a beta of 1.17.

Horace Mann Educators (NYSE:HMN) last released its quarterly earnings results on Tuesday, October 24th. The insurance provider reported $0.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.47. Horace Mann Educators had a return on equity of 4.94% and a net margin of 5.56%. The business had revenue of $289.80 million during the quarter, compared to analyst estimates of $293.10 million. During the same quarter in the previous year, the company posted $0.58 earnings per share. Horace Mann Educators’s revenue for the quarter was down .5% on a year-over-year basis.

The business also recently declared a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Monday, December 18th were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend was Friday, December 15th. Horace Mann Educators’s dividend payout ratio is presently 71.43%.

In other Horace Mann Educators news, Director Robert Stricker sold 3,829 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $45.75, for a total transaction of $175,176.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.10% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HMN. Deprince Race & Zollo Inc. bought a new position in shares of Horace Mann Educators in the third quarter worth about $14,014,000. Victory Capital Management Inc. boosted its stake in shares of Horace Mann Educators by 16.2% in the third quarter. Victory Capital Management Inc. now owns 1,973,583 shares of the insurance provider’s stock worth $77,661,000 after acquiring an additional 275,740 shares during the period. Channing Capital Management LLC boosted its stake in shares of Horace Mann Educators by 17.0% in the third quarter. Channing Capital Management LLC now owns 1,219,629 shares of the insurance provider’s stock worth $47,992,000 after acquiring an additional 176,784 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Horace Mann Educators by 867.7% in the third quarter. Russell Investments Group Ltd. now owns 191,680 shares of the insurance provider’s stock worth $7,543,000 after acquiring an additional 171,872 shares during the period. Finally, Shell Asset Management Co. bought a new position in shares of Horace Mann Educators in the third quarter worth about $4,157,000.

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Horace Mann Educators Company Profile

Horace Mann Educators Corporation (HMEC) is an insurance holding company. Through its subsidiaries, HMEC markets and underwrites personal lines of property and casualty (primarily personal lines automobile and homeowners) insurance, retirement annuities (primarily tax-qualified products) and life insurance in the United States.

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