SPRINGFIELD, IL— Horace Mann Educators Corp (NYSE:HMN) has reported that its General Counsel, Donald M. Carley, sold a significant portion of his holdings in the company. According to a recent SEC filing, Carley sold a total of 5,000 shares of common stock on November 13, 2024, at a consistent price of $42.00 per share. The transactions amounted to a total value of $210,000.
Following these transactions, Carley retains ownership of 24,913.903 shares in the company, which includes both vested restricted stock units and common stock. The sales reflect his ongoing management of personal investment holdings within Horace Mann, a leading provider of insurance and financial solutions tailored for educators and their families.
In other recent news, Horace Mann Educators Corp. has reported significant growth in its third quarter of 2024, with core earnings increasing by 73% to $31.3 million and revenues rising by 9%. This robust performance comes despite a $22.5 million impact from Hurricane Helene. The company also noted improvements in loss ratios due to a multi-year profitability strategy and sales growth in Auto, Life, and Individual Supplemental Lines.
In a recent analyst note, Keefe, Bruyette & Woods downgraded Horace Mann shares from Outperform to Market Perform, citing the stock's strong performance in the market. However, the firm raised its price target on the shares to $44.00, up from the previous target of $39.00. The firm also increased its earnings per share estimates for Horace Mann, taking into account better-than-expected performance in the third quarter of 2024.
Despite the downgrade, the company's management maintains its full-year core EPS guidance of $2.40 to $2.70 and remains on track to achieve strategic goals, including a double-digit return on equity by 2025. These are among the recent developments for Horace Mann Educators Corp.
InvestingPro Insights
Horace Mann Educators Corp's recent insider sale by General Counsel Donald M. Carley comes at a time when the company's stock is showing strong performance. According to InvestingPro data, HMN has demonstrated a robust return of 23.41% over the last three months, indicating positive market sentiment.
The company's financial health appears solid, with a price-to-earnings (P/E) ratio of 15.97, suggesting a reasonable valuation compared to earnings. This is particularly noteworthy given that Horace Mann has maintained dividend payments for 33 consecutive years, as highlighted by an InvestingPro Tip. The company's commitment to shareholder returns is further underscored by its current dividend yield of 3.33%.
Another InvestingPro Tip reveals that Horace Mann has raised its dividend for 14 consecutive years, reflecting a strong track record of increasing shareholder value. This consistent dividend growth, combined with the company's profitability over the last twelve months, paints a picture of financial stability that may provide context for Mr. Carley's decision to sell a portion of his holdings.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights that could provide further clarity on Horace Mann's financial position and future prospects. With 9 more tips available on the InvestingPro platform, subscribers can gain a deeper understanding of the company's potential.
SPRINGFIELD, IL—Horace Mann Educators Corp (NYSE:HMN) has reported that its General Counsel, Donald M. Carley, sold a significant portion of his holdings in the company. According to a recent SEC filing, Carley sold a total of 5,000 shares of common stock on November 13, 2024, at a consistent price of $42.00 per share. The transactions amounted to a total value of $210,000.
Following these transactions, Carley retains ownership of 24,913.903 shares in the company, which includes both vested restricted stock units and common stock. The sales reflect his ongoing management of personal investment holdings within Horace Mann, a leading provider of insurance and financial solutions tailored for educators and their families.
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