Connor Clark & Lunn Investment Management Ltd. Grows Stock Position in Horace Mann Educators Co. (NYSE:HMN)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Horace Mann Educators Co. (NYSE:HMN) by 28.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,683 shares of the insurance provider’s stock after acquiring an additional 5,953 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.07% of Horace Mann Educators worth $933,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in HMN. Bessemer Group Inc. grew its stake in shares of Horace Mann Educators by 228.9% during the 1st quarter. Bessemer Group Inc. now owns 694 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 483 shares during the period. CANADA LIFE ASSURANCE Co boosted its stake in Horace Mann Educators by 9.9% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 42,252 shares of the insurance provider’s stock worth $1,561,000 after purchasing an additional 3,796 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Horace Mann Educators by 5.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 30,454 shares of the insurance provider’s stock worth $1,127,000 after purchasing an additional 1,478 shares during the period. Harbor Capital Advisors Inc. boosted its stake in Horace Mann Educators by 270.1% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 22,305 shares of the insurance provider’s stock worth $728,000 after purchasing an additional 16,278 shares during the period. Finally, Louisiana State Employees Retirement System boosted its stake in Horace Mann Educators by 2.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 20,600 shares of the insurance provider’s stock worth $672,000 after purchasing an additional 400 shares during the period. 99.28% of the stock is currently owned by institutional investors.

Insider Activity at Horace Mann Educators

In other Horace Mann Educators news, Director Beverley J. Mcclure sold 5,634 shares of Horace Mann Educators stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $42.08, for a total value of $237,078.72. Following the transaction, the director now owns 19,057 shares in the company, valued at $801,918.56. The trade was a 22.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marita Zuraitis sold 42,117 shares of Horace Mann Educators stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $37.06, for a total value of $1,560,856.02. Following the completion of the transaction, the chief executive officer now owns 294,402 shares in the company, valued at $10,910,538.12. This trade represents a 12.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,751 shares of company stock worth $1,946,895 over the last three months. 3.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods downgraded Horace Mann Educators from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $39.00 to $44.00 in a research note on Tuesday, November 12th. Piper Sandler upped their price target on Horace Mann Educators from $36.00 to $42.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Finally, Raymond James initiated coverage on Horace Mann Educators in a research report on Tuesday, August 6th. They set a “strong-buy” rating and a $42.00 target price for the company. Four analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Horace Mann Educators presently has a consensus rating of “Hold” and an average price target of $42.67.

Horace Mann Educators Stock Up 1.0 %

Shares of HMN opened at $41.84 on Thursday. The company has a market cap of $1.71 billion, a PE ratio of 16.60 and a beta of 0.27. The business has a fifty day moving average of $37.61 and a 200 day moving average of $35.22. Horace Mann Educators Co. has a 52-week low of $31.81 and a 52-week high of $43.26. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.42.

Horace Mann Educators (NYSE:HMN) last released its earnings results on Monday, November 4th. The insurance provider reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.04. Horace Mann Educators had a return on equity of 8.14% and a net margin of 6.55%. The business had revenue of $412.10 million during the quarter, compared to the consensus estimate of $293.87 million. During the same period last year, the company earned $0.44 earnings per share. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, sell-side analysts expect that Horace Mann Educators Co. will post 2.61 EPS for the current year.

Horace Mann Educators Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.34 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.36 annualized dividend and a dividend yield of 3.25%. Horace Mann Educators’s payout ratio is currently 54.18%.

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.