Franklin Resources Inc. Reduces Stock Position in Horace Mann Educators Co. (NYSE:HMN)

Franklin Resources Inc. cut its stake in Horace Mann Educators Co. (NYSE:HMN – Get Rating) by 0.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,657,166 shares of the insurance provider’s stock after selling 4,893 shares during the period. Franklin Resources Inc. owned approximately 6.50% of Horace Mann Educators worth $99,298,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of HMN. Rockefeller Capital Management L.P. increased its stake in shares of Horace Mann Educators by 246.2% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 1,890 shares of the insurance provider’s stock worth $66,000 after purchasing an additional 1,344 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Horace Mann Educators during the 2nd quarter worth approximately $83,000. SG Americas Securities LLC purchased a new position in shares of Horace Mann Educators during the 4th quarter worth approximately $118,000. UBS Group AG increased its stake in shares of Horace Mann Educators by 191.5% during the 3rd quarter. UBS Group AG now owns 4,247 shares of the insurance provider’s stock worth $149,000 after purchasing an additional 2,790 shares in the last quarter. Finally, Captrust Financial Advisors increased its stake in shares of Horace Mann Educators by 37.9% during the 1st quarter. Captrust Financial Advisors now owns 3,882 shares of the insurance provider’s stock worth $162,000 after purchasing an additional 1,066 shares in the last quarter.

Insider Activity

In related news, SVP Michael Weckenbrock sold 1,600 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $32.82, for a total transaction of $52,512.00. Following the completion of the sale, the senior vice president now directly owns 5,424 shares in the company, valued at $178,015.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.20% of the company’s stock.

Horace Mann Educators Trading Down 1.8 %

HMN opened at $30.87 on Friday. Horace Mann Educators Co. has a fifty-two week low of $30.61 and a fifty-two week high of $42.24. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.22. The company’s 50-day moving average price is $32.75 and its 200 day moving average price is $35.43.

Horace Mann Educators Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Thursday, March 16th were issued a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, March 15th. This is a boost from Horace Mann Educators’s previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a dividend yield of 4.28%. Horace Mann Educators’s dividend payout ratio (DPR) is -507.69%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Piper Sandler dropped their price objective on shares of Horace Mann Educators from $38.00 to $36.00 in a research note on Wednesday, April 5th. StockNews.com began coverage on shares of Horace Mann Educators in a research report on Thursday, May 18th. They set a “hold” rating for the company.

About Horace Mann Educators

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Horace Mann Educators Corp. is an insurance holding company, which engages in the provision of insurance and retirement solutions to educators and school employees. It operates through the following business segments: Property and Casualty, Supplemental, Retirement, Life, and Corporate and Other. The Property and Casualty segment focuses on personal lines of automobile and property insurance products.