Piper Sandler Cuts Horace Mann Educators (NYSE:HMN) Price Target to $37.00

Horace Mann Educators (NYSE:HMN) had its price target cut by investment analysts at Piper Sandler from $39.00 to $37.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the insurance provider’s stock. Piper Sandler’s price target would indicate a potential upside of 6.08% from the company’s previous close.

Several other research firms also recently commented on HMN. TheStreet upgraded shares of Horace Mann Educators from a “c” rating to a “b” rating in a report on Wednesday, February 7th. Keefe, Bruyette & Woods upgraded Horace Mann Educators from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $33.00 to $40.00 in a research note on Monday, January 29th. Finally, StockNews.com cut Horace Mann Educators from a “buy” rating to a “hold” rating in a research report on Tuesday, April 16th.

Horace Mann Educators Stock Performance

Shares of HMN traded down $0.69 during trading hours on Friday, hitting $34.88. The stock had a trading volume of 57,599 shares, compared to its average volume of 212,604. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.09 and a quick ratio of 0.09. The stock has a fifty day moving average price of $36.02 and a 200 day moving average price of $34.65. Horace Mann Educators has a 12 month low of $27.81 and a 12 month high of $39.25. The firm has a market capitalization of $1.43 billion, a PE ratio of 32.30 and a beta of 0.26.

Horace Mann Educators (NYSE:HMN) last released its quarterly earnings results on Wednesday, February 7th. The insurance provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.65 by $0.19. Horace Mann Educators had a net margin of 3.02% and a return on equity of 5.71%. The business had revenue of $402.90 million for the quarter, compared to analyst estimates of $394.40 million. Analysts anticipate that Horace Mann Educators will post 3.15 EPS for the current year.

Insider Activity at Horace Mann Educators

In other Horace Mann Educators news, CFO Bret A. Conklin sold 9,689 shares of Horace Mann Educators stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $35.80, for a total transaction of $346,866.20. Following the transaction, the chief financial officer now directly owns 63,922 shares of the company’s stock, valued at approximately $2,288,407.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, General Counsel Donald M. Carley sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $35.11, for a total value of $175,550.00. Following the completion of the sale, the general counsel now directly owns 29,627 shares in the company, valued at $1,040,203.97. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Bret A. Conklin sold 9,689 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $35.80, for a total transaction of $346,866.20. Following the sale, the chief financial officer now directly owns 63,922 shares of the company’s stock, valued at $2,288,407.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,529 shares of company stock valued at $770,237. Insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. raised its stake in Horace Mann Educators by 43.7% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 4,083,838 shares of the insurance provider’s stock worth $119,983,000 after buying an additional 1,241,193 shares in the last quarter. Franklin Resources Inc. raised its holdings in Horace Mann Educators by 9.3% in the fourth quarter. Franklin Resources Inc. now owns 3,578,005 shares of the insurance provider’s stock valued at $117,001,000 after acquiring an additional 303,501 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Horace Mann Educators by 3,398.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 244,236 shares of the insurance provider’s stock worth $9,034,000 after purchasing an additional 237,255 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in Horace Mann Educators by 381.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 144,357 shares of the insurance provider’s stock worth $4,241,000 after purchasing an additional 114,380 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Horace Mann Educators by 95.3% in the third quarter. Envestnet Asset Management Inc. now owns 185,712 shares of the insurance provider’s stock valued at $5,456,000 after buying an additional 90,607 shares during the last quarter. 99.28% of the stock is owned by institutional investors and hedge funds.

Horace Mann Educators Company Profile

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.