Horace Mann Educators Co. (NYSE:HMN) Announces Quarterly Dividend of $0.35

Horace Mann Educators Co. (NYSE:HMN) declared a quarterly dividend on Wednesday, May 14th, RTT News reports. Stockholders of record on Monday, June 16th will be paid a dividend of 0.35 per share by the insurance provider on Monday, June 30th. This represents a $1.40 annualized dividend and a dividend yield of 3.38%.

Horace Mann Educators has increased its dividend payment by an average of 3.1% per year over the last three years and has increased its dividend annually for the last 17 consecutive years. Horace Mann Educators has a payout ratio of 33.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Horace Mann Educators to earn $4.22 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 33.2%.

Horace Mann Educators Trading Down 0.3%

NYSE HMN opened at $41.48 on Thursday. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 16.73 and a beta of 0.28. Horace Mann Educators has a twelve month low of $31.81 and a twelve month high of $43.69. The company has a quick ratio of 0.09, a current ratio of 0.10 and a debt-to-equity ratio of 0.42. The business’s fifty day moving average is $41.31 and its 200 day moving average is $40.45.

Horace Mann Educators (NYSE:HMN) last released its quarterly earnings data on Tuesday, May 6th. The insurance provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.19. Horace Mann Educators had a return on equity of 10.58% and a net margin of 6.44%. The company had revenue of $416.40 million during the quarter, compared to the consensus estimate of $421.40 million. During the same quarter in the prior year, the firm posted $0.62 earnings per share. The firm’s revenue was up 7.9% compared to the same quarter last year. As a group, sell-side analysts expect that Horace Mann Educators will post 3.87 EPS for the current fiscal year.

Horace Mann Educators declared that its board has approved a share buyback program on Tuesday, May 13th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to purchase up to 3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on HMN shares. Piper Sandler boosted their price objective on Horace Mann Educators from $42.00 to $44.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Keefe, Bruyette & Woods boosted their target price on shares of Horace Mann Educators from $44.00 to $45.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 11th. JMP Securities reissued a “market perform” rating on shares of Horace Mann Educators in a research report on Friday, February 7th. Finally, StockNews.com raised shares of Horace Mann Educators from a “hold” rating to a “buy” rating in a research report on Thursday, May 8th. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Horace Mann Educators presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.67.

Insider Transactions at Horace Mann Educators

In related news, CEO Marita Zuraitis sold 5,000 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $43.09, for a total value of $215,450.00. Following the completion of the transaction, the chief executive officer now directly owns 320,451 shares in the company, valued at approximately $13,808,233.59. The trade was a 1.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Beverley J. Mcclure sold 2,816 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $42.86, for a total value of $120,693.76. Following the completion of the transaction, the director now directly owns 13,643 shares in the company, valued at approximately $584,738.98. This represents a 17.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,816 shares of company stock valued at $543,144 in the last quarter. Insiders own 3.80% of the company’s stock.

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.