Teacher Retirement System of Texas bought a new stake in Horace Mann Educators Co. (NYSE:HMN) in the 4th quarter, HoldingsChannel.com reports. The fund bought 14,065 shares of the insurance provider’s stock, valued at approximately $620,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Earnest Partners LLC increased its stake in shares of Horace Mann Educators by 2.9% in the 3rd quarter. Earnest Partners LLC now owns 1,577,320 shares of the insurance provider’s stock valued at $62,068,000 after buying an additional 44,440 shares during the period. New York State Common Retirement Fund increased its stake in shares of Horace Mann Educators by 1.3% in the 3rd quarter. New York State Common Retirement Fund now owns 478,789 shares of the insurance provider’s stock valued at $18,840,000 after buying an additional 6,306 shares during the period. Dalton Greiner Hartman Maher & Co. increased its stake in shares of Horace Mann Educators by 3.4% in the 4th quarter. Dalton Greiner Hartman Maher & Co. now owns 455,724 shares of the insurance provider’s stock valued at $20,097,000 after buying an additional 15,105 shares during the period. Cramer Rosenthal Mcglynn LLC increased its stake in shares of Horace Mann Educators by 45.5% in the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 366,405 shares of the insurance provider’s stock valued at $14,418,000 after buying an additional 114,645 shares during the period. Finally, Deprince Race & Zollo Inc. acquired a new stake in shares of Horace Mann Educators in the 3rd quarter valued at $14,014,000. 98.26% of the stock is owned by institutional investors.
Shares of Horace Mann Educators Co. (HMN) opened at $44.05 on Monday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.08 and a current ratio of 0.08. Horace Mann Educators Co. has a 52 week low of $33.85 and a 52 week high of $47.65. The company has a market capitalization of $1,796.37, a price-to-earnings ratio of 25.46 and a beta of 0.99.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Monday, March 19th will be paid a dividend of $0.285 per share. The ex-dividend date is Friday, March 16th. This is a boost from Horace Mann Educators’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.59%. Horace Mann Educators’s payout ratio is 27.09%.
Several research firms have recently commented on HMN. ValuEngine raised Horace Mann Educators from a “hold” rating to a “buy” rating in a research note on Thursday. Zacks Investment Research cut Horace Mann Educators from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th. Finally, Keefe, Bruyette & Woods set a $43.00 price objective on Horace Mann Educators and gave the stock a “hold” rating in a research note on Wednesday, February 7th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $46.50.
In related news, CFO Bret A. Conklin sold 2,938 shares of Horace Mann Educators stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $42.81, for a total transaction of $125,775.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.40% of the stock is owned by insiders.
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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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