Horace Mann Educators Co. (NYSE:HMN – Get Rating) declared a quarterly dividend on Wednesday, September 7th, Wall Street Journal reports. Shareholders of record on Friday, September 16th will be given a dividend of 0.32 per share by the insurance provider on Friday, September 30th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend is Thursday, September 15th.

Horace Mann Educators has increased its dividend by an average of 2.8% annually over the last three years and has increased its dividend every year for the last 14 years. Horace Mann Educators has a dividend payout ratio of 34.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Horace Mann Educators to earn $3.50 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 36.6%.

Horace Mann Educators Price Performance

Shares of HMN stock traded up $0.63 during mid-day trading on Wednesday, hitting $35.66. The company had a trading volume of 203,432 shares, compared to its average volume of 233,850. Horace Mann Educators has a 52-week low of $32.60 and a 52-week high of $42.95. The stock's 50 day moving average price is $36.22 and its 200-day moving average price is $38.57. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.11 and a quick ratio of 0.11. The company has a market capitalization of $1.46 billion, a P/E ratio of 25.02 and a beta of 0.43.

Wall Street Analyst Weigh In

Several research firms have recently commented on HMN. Piper Sandler raised shares of Horace Mann Educators from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $38.00 to $42.00 in a report on Friday, August 19th. TheStreet downgraded shares of Horace Mann Educators from a "b-" rating to a "c" rating in a research note on Thursday, August 4th.

Insider Activity

In other news, EVP Matthew P. Sharpe sold 3,500 shares of the company's stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $34.43, for a total value of $120,505.00. Following the transaction, the executive vice president now directly owns 74,386 shares in the company, valued at $2,561,109.98. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 3.20% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd purchased a new position in shares of Horace Mann Educators in the 2nd quarter valued at approximately $83,000. Captrust Financial Advisors raised its position in shares of Horace Mann Educators by 37.9% in the 1st quarter. Captrust Financial Advisors now owns 3,882 shares of the insurance provider's stock valued at $162,000 after purchasing an additional 1,066 shares during the last quarter. APG Asset Management N.V. purchased a new position in shares of Horace Mann Educators in the 1st quarter valued at approximately $211,000. Eaton Vance Management raised its position in shares of Horace Mann Educators by 50.2% in the 1st quarter. Eaton Vance Management now owns 5,781 shares of the insurance provider's stock valued at $242,000 after purchasing an additional 1,932 shares during the last quarter. Finally, Keeley Teton Advisors LLC purchased a new position in Horace Mann Educators during the 1st quarter worth approximately $251,000.

Horace Mann Educators Company Profile

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Horace Mann Educators Corporation, together with its subsidiaries, operates as an insurance holding company in the United States. It operates in three segments: Property & Casualty, Life & Retirement, and Supplemental & Group Benefits. The company underwrites and markets personal lines of property and casualty insurance, including personal lines auto and property insurance products; supplemental insurance products, which include cancer, heart, hospital, supplemental disability, and accident coverages; retirement products, such as tax-qualified fixed and variable annuities; and life insurance products comprising whole life and term, as well as indexed universal life insurance products.

Further Reading

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