Bank of Montreal Can Increases Stock Position in Horace Mann Educators Co. (NYSE:HMN)

Bank of Montreal Can boosted its stake in Horace Mann Educators Co. (NYSE:HMN) by 476.8% during the second quarter, HoldingsChannel reports. The firm owned 77,527 shares of the insurance provider’s stock after buying an additional 64,087 shares during the period. Bank of Montreal Can’s holdings in Horace Mann Educators were worth $2,571,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Public Sector Pension Investment Board raised its stake in Horace Mann Educators by 7.7% in the second quarter. Public Sector Pension Investment Board now owns 90,121 shares of the insurance provider’s stock valued at $2,940,000 after purchasing an additional 6,410 shares in the last quarter. Sei Investments Co. raised its stake in Horace Mann Educators by 56.8% in the second quarter. Sei Investments Co. now owns 21,247 shares of the insurance provider’s stock valued at $693,000 after purchasing an additional 7,696 shares in the last quarter. Intech Investment Management LLC purchased a new stake in Horace Mann Educators in the second quarter valued at approximately $551,000. Inspire Investing LLC raised its stake in Horace Mann Educators by 10.5% in the second quarter. Inspire Investing LLC now owns 10,705 shares of the insurance provider’s stock valued at $349,000 after purchasing an additional 1,015 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Horace Mann Educators by 1.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,533,774 shares of the insurance provider’s stock valued at $82,653,000 after purchasing an additional 43,064 shares in the last quarter. 99.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on HMN. Raymond James began coverage on shares of Horace Mann Educators in a research note on Tuesday, August 6th. They set a “strong-buy” rating and a $42.00 price target on the stock. JMP Securities reissued a “market perform” rating on shares of Horace Mann Educators in a research note on Tuesday, June 18th. Keefe, Bruyette & Woods decreased their price target on shares of Horace Mann Educators from $40.00 to $39.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 13th. Finally, Piper Sandler lifted their price target on shares of Horace Mann Educators from $34.00 to $36.00 and gave the stock a “neutral” rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Horace Mann Educators presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

Horace Mann Educators Stock Down 1.1 %

Shares of Horace Mann Educators stock opened at $35.13 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.08 and a current ratio of 0.08. Horace Mann Educators Co. has a 52-week low of $28.49 and a 52-week high of $39.25. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 22.44 and a beta of 0.28. The company’s 50 day moving average price is $34.42 and its 200-day moving average price is $34.65.

Horace Mann Educators (NYSE:HMN) last issued its earnings results on Wednesday, August 7th. The insurance provider reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.01. Horace Mann Educators had a net margin of 5.24% and a return on equity of 7.44%. The firm had revenue of $388.10 million for the quarter, compared to analysts’ expectations of $288.67 million. During the same quarter last year, the business earned $0.03 earnings per share. The business’s revenue was up 8.9% on a year-over-year basis. Equities research analysts forecast that Horace Mann Educators Co. will post 2.56 EPS for the current year.

Horace Mann Educators Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.87%. The ex-dividend date of this dividend was Monday, September 16th. Horace Mann Educators’s dividend payout ratio (DPR) is currently 87.18%.

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.