Raymond James Financial Inc. Makes New $1.12 Million Investment in Horace Mann Educators Co. (NYSE:HMN)

Raymond James Financial Inc. purchased a new position in shares of Horace Mann Educators Co. (NYSE:HMN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 28,572 shares of the insurance provider's stock, valued at approximately $1,121,000. Raymond James Financial Inc. owned approximately 0.07% of Horace Mann Educators at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Franklin Resources Inc. lifted its stake in Horace Mann Educators by 13.9% in the third quarter. Franklin Resources Inc. now owns 2,942,494 shares of the insurance provider's stock worth $104,194,000 after acquiring an additional 359,083 shares during the period. State Street Corp raised its holdings in shares of Horace Mann Educators by 1.3% in the 3rd quarter. State Street Corp now owns 1,633,717 shares of the insurance provider's stock valued at $57,098,000 after purchasing an additional 20,771 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Horace Mann Educators by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 954,080 shares of the insurance provider's stock worth $33,351,000 after purchasing an additional 22,358 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Horace Mann Educators by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 566,880 shares of the insurance provider's stock valued at $22,239,000 after purchasing an additional 8,570 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Horace Mann Educators by 13.1% during the fourth quarter. Bank of New York Mellon Corp now owns 470,255 shares of the insurance provider's stock valued at $18,448,000 after buying an additional 54,398 shares during the period. Hedge funds and other institutional investors own 99.28% of the company's stock.

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Horace Mann Educators Stock Down 1.8 %

HMN traded down $0.75 during trading on Tuesday, hitting $39.67. The stock had a trading volume of 409,925 shares, compared to its average volume of 239,853. The stock has a 50 day simple moving average of $41.20 and a two-hundred day simple moving average of $39.53. The company has a market capitalization of $1.62 billion, a PE ratio of 16.00 and a beta of 0.21. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.09 and a current ratio of 0.10. Horace Mann Educators Co. has a twelve month low of $31.81 and a twelve month high of $43.69.

Horace Mann Educators (NYSE:HMN - Get Free Report) last posted its quarterly earnings data 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 return on equity of 10.58% and a net margin of 6.44%. On average, research analysts predict that Horace Mann Educators Co. will post 3.87 earnings per share for the current year.

Horace Mann Educators Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a $0.35 dividend. This is a positive change from Horace Mann Educators's previous quarterly dividend of $0.34. This represents a $1.40 annualized dividend and a dividend yield of 3.53%. The ex-dividend date of this dividend was Monday, March 17th. Horace Mann Educators's dividend payout ratio (DPR) is presently 56.45%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Horace Mann Educators news, CEO Marita Zuraitis sold 5,000 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $43.09, for a total value of $215,450.00. Following the completion of the transaction, the chief executive officer now owns 320,451 shares of the company's stock, valued at approximately $13,808,233.59. This trade represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Beverley J. Mcclure sold 2,816 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $42.86, for a total transaction of $120,693.76. Following the sale, the director now directly owns 13,643 shares in the company, valued at $584,738.98. This trade represents a 17.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,816 shares of company stock worth $485,624 in the last three months. Corporate insiders own 3.80% of the company's stock.

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.