SPRINGFIELD, IL— Horace Mann Educators Corp . (NYSE:HMN) President and CEO Marita Zuraitis recently sold 4,000 shares of the company's common stock, generating a total of $148,960. The shares were sold at a price of $37.24 each, according to a filing with the Securities and Exchange Commission.
Following this transaction, Zuraitis holds 292,335.748 shares, which include 205,655.748 vested restricted stock units and 86,680 shares of common stock. The sale was conducted under a pre-established Rule 10b5-1 trading plan, which was adopted on March 14, 2024.
Horace Mann Educators Corp., a company specializing in fire, marine, and casualty insurance, is headquartered in Springfield, Illinois.
In other recent news, Horace Mann Educators Corporation saw significant changes and financial growth. The company appointed Ryan Greenier as the new Executive Vice President and Chief Financial Officer, effective October 1, 2024. Greenier, with his robust financial background and previous leadership roles within the company, is expected to take over from Bret Conklin, who plans to retire in 2025.
In terms of financial performance, Horace Mann's second-quarter core earnings matched market expectations, with a profit of 20 cents per share on a diluted basis. The company reported a 9% increase in total revenues, driven by an 8% rise in net premiums and contract deposits. Sales in property and casualty surged by 37%, while the supplemental and group benefit segment saw a 20% increase.
However, core earnings in the life and retirement segment decreased by 29% due to lower income from commercial mortgage loan funds and higher interest credited. Despite this, the company's fixed income portfolio with a credit rating of A plus exceeded expectations in the higher interest rate environment. Horace Mann remains committed to its strategic vision and is on track to achieve underwriting profit by 2024 and improved profitability by 2025.
InvestingPro Insights
While Horace Mann Educators Corp. (NYSE:HMN) CEO Marita Zuraitis recently sold shares, the company's financial health and market performance paint a positive picture. According to InvestingPro data, HMN boasts a market capitalization of $1.57 billion and has demonstrated strong revenue growth of 10.61% over the last twelve months as of Q3 2024.
InvestingPro Tips highlight HMN's commitment to shareholder value. The company has raised its dividend for 14 consecutive years and maintained dividend payments for 33 years straight. This consistent dividend policy is supported by a current dividend yield of 3.64%, making HMN an attractive option for income-focused investors.
The stock's recent performance has been noteworthy, with a 15.26% price total return over the past three months. This aligns with another InvestingPro Tip indicating that HMN is trading near its 52-week high, with the current price at 97.85% of that peak.
Analysts remain optimistic about HMN's prospects, with expectations of net income growth this year and three analysts revising their earnings estimates upward for the upcoming period. The company's profitability over the last twelve months further reinforces this positive outlook.
For investors seeking a deeper understanding of HMN's financial health and growth potential, InvestingPro offers 9 additional tips, providing a comprehensive analysis to inform investment decisions.
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