Franklin Resources Inc. Decreases Stake in Horace Mann Educators Co. (NYSE:HMN)

Franklin Resources Inc. lowered its holdings in Horace Mann Educators Co. (NYSE:HMNGet Rating) by 11.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,662,000 shares of the insurance provider’s stock after selling 355,129 shares during the quarter. Franklin Resources Inc. owned 6.43% of Horace Mann Educators worth $102,168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Rhumbline Advisers increased its position in Horace Mann Educators by 5.5% during the second quarter. Rhumbline Advisers now owns 124,978 shares of the insurance provider’s stock valued at $4,797,000 after acquiring an additional 6,506 shares during the last quarter. Trexquant Investment LP increased its position in Horace Mann Educators by 76.4% during the second quarter. Trexquant Investment LP now owns 11,931 shares of the insurance provider’s stock valued at $458,000 after acquiring an additional 5,167 shares during the last quarter. Martingale Asset Management L P purchased a new stake in Horace Mann Educators during the second quarter valued at $1,199,000. Mutual of America Capital Management LLC increased its position in Horace Mann Educators by 16.7% during the second quarter. Mutual of America Capital Management LLC now owns 6,958 shares of the insurance provider’s stock valued at $267,000 after acquiring an additional 994 shares during the last quarter. Finally, Trillium Asset Management LLC increased its position in Horace Mann Educators by 0.9% during the second quarter. Trillium Asset Management LLC now owns 80,154 shares of the insurance provider’s stock valued at $3,075,000 after acquiring an additional 739 shares during the last quarter.

Insider Activity at Horace Mann Educators

In other news, EVP Matthew P. Sharpe sold 3,500 shares of the stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $36.12, for a total value of $126,420.00. Following the sale, the executive vice president now directly owns 70,886 shares in the company, valued at $2,560,402.32. The sale was disclosed in a document filed with the SEC, which is available at this link. Over the last three months, insiders sold 10,500 shares of company stock valued at $385,245. Insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on HMN. StockNews.com began coverage on Horace Mann Educators in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Piper Sandler upgraded Horace Mann Educators from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $38.00 to $42.00 in a research report on Friday, August 19th. Finally, TheStreet lowered Horace Mann Educators from a “b-” rating to a “c” rating in a report on Thursday, August 4th.

Horace Mann Educators Stock Performance

NYSE:HMN opened at $37.13 on Thursday. The stock has a 50-day simple moving average of $37.47 and a two-hundred day simple moving average of $37.05. Horace Mann Educators Co. has a 52-week low of $32.60 and a 52-week high of $42.95. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.10 and a current ratio of 0.10. The firm has a market capitalization of $1.52 billion, a PE ratio of 27.71 and a beta of 0.43.

Horace Mann Educators Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date was Thursday, September 15th. Horace Mann Educators’s payout ratio is presently 95.52%.

About Horace Mann Educators

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Horace Mann Educators Corporation, together with its subsidiaries, operates as an insurance holding company in the United States. It operates in three segments: Property & Casualty, Life & Retirement, and Supplemental & Group Benefits. The company underwrites and markets personal lines of property and casualty insurance, including personal lines auto and property insurance products; supplemental insurance products, which include cancer, heart, hospital, supplemental disability, and accident coverages; retirement products, such as tax-qualified fixed and variable annuities; and life insurance products comprising whole life and term, as well as indexed universal life insurance products.

See Also

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Institutional Ownership by Quarter for Horace Mann Educators (NYSE:HMN)

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