Horace Mann Educators (HMN) Declares $0.33 Dividend

Horace Mann Educators said on March 6, 2023 that its board of directors declared a regular quarterly dividend of $0.33 per share ($1.32 annualized). Previously, the company paid $0.32 per share.

Shares must be purchased before the ex-div date of March 15, 2023 to qualify for the dividend. Shareholders of record as of March 16, 2023 will receive the payment on March 31, 2023.

At the current share price of $35.98 / share, the stock's dividend yield is 3.67%. Looking back five years and taking a sample every week, the average dividend yield has been 3.03%, the lowest has been 2.42%, and the highest has been 3.91%. The standard deviation of yields is 0.34 (n=236).

The current dividend yield is 1.90 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is -20.10. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.07%, demonstrating that it has increased its dividend over time.

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Analyst Price Forecast Suggests 10.56% Upside

As of March 8, 2023, the average one-year price target for Horace Mann Educators is $39.78. The forecasts range from a low of $38.38 to a high of $42.00. The average price target represents an increase of 10.56% from its latest reported closing price of $35.98.

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The projected annual revenue for Horace Mann Educators is $1,477MM, an increase of 6.80%. The projected annual non-GAAP EPS is $3.30.

What is the Fund Sentiment?

There are 487 funds or institutions reporting positions in Horace Mann Educators. This is a decrease of 5 owner(s) or 1.02% in the last quarter. Average portfolio weight of all funds dedicated to HMN is 0.18%, an increase of 9.07%. Total shares owned by institutions decreased in the last three months by 1.23% to 51,910K shares. The put/call ratio of HMN is 1.33, indicating a bearish outlook.

What are Large Shareholders Doing?

Earnest Partners holds 3,051K shares representing 7.47% ownership of the company. In it's prior filing, the firm reported owning 3,079K shares, representing a decrease of 0.90%. The firm decreased its portfolio allocation in HMN by 4.24% over the last quarter.

IJR - iShares Core S&P Small-Cap ETF holds 2,732K shares representing 6.69% ownership of the company. No change in the last quarter.

Franklin Resources holds 2,657K shares representing 6.51% ownership of the company. In it's prior filing, the firm reported owning 2,662K shares, representing a decrease of 0.18%. The firm decreased its portfolio allocation in HMN by 77.73% over the last quarter.

FRVLX - Franklin Small Cap Value Fund holds 1,842K shares representing 4.51% ownership of the company. No change in the last quarter.

Bank Of America holds 1,571K shares representing 3.85% ownership of the company. In it's prior filing, the firm reported owning 1,560K shares, representing an increase of 0.65%. The firm decreased its portfolio allocation in HMN by 99.90% over the last quarter.

Horace Mann Educators Background Information
(This description is provided by the company.)

Horace Mann is the largest financial services company focused on providing America's educators and school employees with insurance and retirement solutions. Founded by Educators for Educators® in 1945, the company is headquartered in Springfield, Ill.

This story originally appeared on Fintel.