Zacks Investment Research Downgrades Horace Mann Educators (HMN) to Hold

Horace Mann Educators (NYSE:HMN) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday.

According to Zacks, “Horace Mann Educators Corporation is a multiline insurance holding company that targets the US educator market. The company and its subsidiaries, Horace Mann Insurance Co., Teachers Insurance Co., Horace Mann Life Insurance Co., and Allegiance Insurance Co., provide retirement annuities, automobile insurance, homeowners insurance, and life insurance to elementary and secondary teachers, administrators, and education support personnel in public and private schools. The company also offers group life and health insurance to school districts. “

HMN has been the subject of a number of other reports. Keefe, Bruyette & Woods raised shares of Horace Mann Educators from an “underperform” rating to a “market perform” rating and set a $37.00 price objective for the company in a report on Tuesday, September 5th. TheStreet downgraded shares of Horace Mann Educators from a “b” rating to a “c+” rating in a report on Monday, August 28th.

Horace Mann Educators (NYSE HMN) traded up $0.40 during trading hours on Tuesday, hitting $44.55. 93,909 shares of the stock were exchanged, compared to its average volume of 160,215. The company has a market cap of $1,795.46, a P/E ratio of 28.93 and a beta of 1.17. Horace Mann Educators has a one year low of $33.85 and a one year high of $47.65. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.18.

Horace Mann Educators (NYSE:HMN) last released its quarterly earnings data on Tuesday, October 24th. The insurance provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.47. The company had revenue of $289.80 million during the quarter, compared to the consensus estimate of $293.10 million. Horace Mann Educators had a net margin of 5.56% and a return on equity of 4.94%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the firm earned $0.58 EPS. equities research analysts predict that Horace Mann Educators will post 1.7 earnings per share for the current fiscal year.

In related news, Director Robert Stricker sold 3,829 shares of the stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $45.75, for a total transaction of $175,176.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.40% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. Advisor Group Inc. increased its position in shares of Horace Mann Educators by 32.0% during the 2nd quarter. Advisor Group Inc. now owns 3,023 shares of the insurance provider’s stock worth $114,000 after purchasing an additional 733 shares in the last quarter. Stifel Financial Corp acquired a new stake in shares of Horace Mann Educators during the 3rd quarter worth about $203,000. Amalgamated Bank increased its position in shares of Horace Mann Educators by 1.4% during the 2nd quarter. Amalgamated Bank now owns 5,563 shares of the insurance provider’s stock worth $210,000 after purchasing an additional 78 shares in the last quarter. CIBC Asset Management Inc acquired a new stake in Horace Mann Educators in the 3rd quarter valued at about $214,000. Finally, Piedmont Investment Advisors LLC acquired a new stake in Horace Mann Educators in the 2nd quarter valued at about $331,000. Institutional investors and hedge funds own 98.26% of the company’s stock.

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About Horace Mann Educators

Horace Mann Educators Corporation (HMEC) is an insurance holding company. Through its subsidiaries, HMEC markets and underwrites personal lines of property and casualty (primarily personal lines automobile and homeowners) insurance, retirement annuities (primarily tax-qualified products) and life insurance in the United States.

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