SPRINGFIELD, IL—Kimberly A. Johnson, Senior Vice President and Controller at Horace Mann Educators Corp (NYSE:HMN), recently sold 3,000 shares of the company's common stock. The transaction, which took place on November 7, 2024, was executed at a price of $42.88 per share, totaling approximately $128,640.
Following this sale, Johnson retains ownership of 19,349.715 shares, which includes 19,186.687 vested restricted stock units and 163.028 shares of common stock. The transaction was filed with the Securities and Exchange Commission on November 12, 2024.
Horace Mann Educators Corp, based in Springfield, Illinois, is a provider of insurance and financial solutions tailored for educators and their families.
In other recent news, Horace Mann Educators Corp. has undergone significant developments. The company recently reported a robust growth in its third quarter of 2024, with core earnings increasing by 73% to $31.3 million, despite a $22.5 million impact from Hurricane Helene. Revenues also saw an increase of 9%. Analysts from Keefe, Bruyette & Woods have adjusted their stance on Horace Mann, downgrading the stock from Outperform to Market Perform, although they have raised their price target to $44.00.
The analysts have also increased their earnings per share (EPS) estimates for Horace Mann, with the 2024 EPS estimate raised to $2.60 from $2.50. Estimates for 2025 and 2026 have also been adjusted upward to $3.55 and $4.00, respectively. These revised expectations are based on anticipated higher income from the Property & Casualty and Supplemental & Group Benefits sectors, despite a projected decrease in income from the Life & Retirement segment.
In addition to these, Horace Mann has repurchased 256,000 shares at a cost of $8.5 million. These are among the recent developments for Horace Mann Educators Corp.
InvestingPro Insights
The recent stock sale by Kimberly A. Johnson, Senior Vice President and Controller at Horace Mann Educators Corp (NYSE:HMN), comes at a time when the company's stock is performing strongly. According to InvestingPro data, HMN has seen impressive returns, with a 21.27% price total return over the past month and a 27.92% return over the last three months. This performance aligns with an InvestingPro Tip indicating that the stock is trading near its 52-week high, currently at 97.16% of that peak.
Investors may find comfort in HMN's financial stability and growth prospects. The company boasts a market capitalization of $1.72 billion and a P/E ratio of 16.57, suggesting a reasonable valuation relative to earnings. Moreover, an InvestingPro Tip highlights that HMN has raised its dividend for 14 consecutive years, demonstrating a commitment to shareholder returns. The current dividend yield stands at 3.21%, which may be attractive to income-focused investors.
For those considering the long-term potential of HMN, it's worth noting that the company's revenue growth is solid, with a 10.71% increase in the last twelve months as of Q3 2024. This growth, coupled with the InvestingPro Tip that net income is expected to grow this year, paints a positive picture for the company's financial trajectory.
InvestingPro offers additional insights, with 11 more tips available for HMN, providing a comprehensive view of the company's financial health and market position. These tips can be valuable for investors looking to make informed decisions about Horace Mann Educators Corp's stock.
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