Horace Mann Educators Co. (NYSE:HMN) Increases Dividend to $0.35 Per Share

Horace Mann Educators Co. (NYSE:HMN) declared a quarterly dividend on Monday, March 3rd, RTT News reports. Shareholders of record on Monday, March 17th will be given a dividend of 0.35 per share by the insurance provider on Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a yield of 3.28%. This is a positive change from Horace Mann Educators’s previous quarterly dividend of $0.34.

Horace Mann Educators has increased its dividend by an average of 3.1% annually over the last three years and has increased its dividend annually for the last 16 consecutive years. Horace Mann Educators has a payout ratio of 32.2% meaning its dividend is sufficiently covered by earnings. 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 $1.36 annual dividend with an expected future payout ratio of 32.2%.

Horace Mann Educators Trading Up 0.9 %

NYSE HMN opened at $42.71 on Tuesday. The firm’s 50-day moving average is $39.42 and its two-hundred day moving average is $38.21. Horace Mann Educators has a 12 month low of $31.81 and a 12 month high of $43.53. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.10 and a quick ratio of 0.09. The stock has a market capitalization of $1.74 billion, a P/E ratio of 17.22 and a beta of 0.31.

Horace Mann Educators (NYSE:HMN) last posted its earnings results on Wednesday, February 5th. The insurance provider reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.58. Horace Mann Educators had a net margin of 6.44% and a return on equity of 10.58%. On average, sell-side analysts anticipate that Horace Mann Educators will post 3.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on HMN shares. Keefe, Bruyette & Woods increased their price target 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, Piper Sandler increased their price target on shares of Horace Mann Educators from $42.00 to $44.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Four analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Horace Mann Educators presently has an average rating of “Hold” and a consensus price target of $43.67.

Insider Transactions at Horace Mann Educators

In related news, CEO Marita Zuraitis sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $37.37, for a total transaction of $149,480.00. Following the sale, the chief executive officer now directly owns 294,324 shares in the company, valued at approximately $10,998,887.88. This represents a 1.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Beverley J. Mcclure sold 2,817 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $38.36, for a total transaction of $108,060.12. Following the sale, the director now owns 16,352 shares in the company, valued at $627,262.72. The trade was a 14.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,817 shares of company stock valued at $415,140. 3.80% of the stock is currently owned by corporate insiders.

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.