Horace Mann Educators (NYSE:HMN) Reaches New 12-Month High After Dividend Announcement

Horace Mann Educators Co. (NYSE:HMN - Get Free Report) hit a new 52-week high during trading on Monday following a dividend announcement from the company. The stock traded as high as $43.41 and last traded at $43.40, with a volume of 29720 shares traded. The stock had previously closed at $42.33.

The newly announced dividend which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.39%. This is an increase from Horace Mann Educators's previous quarterly dividend of $0.34. Horace Mann Educators's dividend payout ratio (DPR) is currently 56.45%.

Analyst Ratings Changes

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

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Horace Mann Educators Trading Down 0.8 %

The business has a 50 day moving average of $39.50 and a 200 day moving average of $38.28. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of 16.67 and a beta of 0.25. The company has a quick ratio of 0.09, a current ratio of 0.10 and a debt-to-equity ratio of 0.42.

Horace Mann Educators (NYSE:HMN - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The insurance provider reported $1.62 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, research analysts forecast that Horace Mann Educators Co. will post 3.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Beverley J. Mcclure sold 2,817 shares of the firm's stock in a transaction dated 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 directly owns 16,352 shares in the company, valued at approximately $627,262.72. This trade represents a 14.70 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Marita Zuraitis sold 4,000 shares of the firm's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $39.40, for a total transaction of $157,600.00. Following the completion of the transaction, the chief executive officer now directly owns 298,324 shares in the company, valued at $11,753,965.60. This represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,817 shares of company stock worth $415,140 in the last quarter. 3.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. boosted its position in shares of Horace Mann Educators by 125.5% during the third quarter. Harbor Capital Advisors Inc. now owns 50,292 shares of the insurance provider's stock worth $1,758,000 after buying an additional 27,987 shares during the period. Principal Financial Group Inc. lifted its holdings in Horace Mann Educators by 10.6% in the 3rd quarter. Principal Financial Group Inc. now owns 223,512 shares of the insurance provider's stock valued at $7,812,000 after acquiring an additional 21,430 shares during the last quarter. Summit Global Investments bought a new stake in Horace Mann Educators during the third quarter worth approximately $674,000. State of New Jersey Common Pension Fund D grew its holdings in shares of Horace Mann Educators by 5.3% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 57,629 shares of the insurance provider's stock worth $2,014,000 after acquiring an additional 2,895 shares during the last quarter. Finally, KBC Group NV increased its stake in Horace Mann Educators by 60.2% in the 3rd quarter. KBC Group NV now owns 1,671 shares of the insurance provider's stock worth $58,000 after purchasing an additional 628 shares in the last quarter. 99.28% of the stock is currently owned by institutional investors.

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.