Marita Zuraitis, President and CEO of Horace Mann Educators Corp (NYSE:HMN), recently executed several transactions involving the company's common stock. On October 17, Zuraitis sold a total of 42,117 shares, generating approximately $1.56 million. The shares were sold at prices ranging from $37.00 to $37.099 per share.
In addition to the sales, Zuraitis also acquired shares through the exercise of stock options. On the same day, she exercised options to acquire 26,117 shares at a price of $32.35 per share, totaling around $907,449. Following these transactions, Zuraitis holds a direct ownership of 294,401.748 shares in the company.
In other recent news, financial services company Horace Mann Educators Corporation has reported its second-quarter core earnings that aligned with market expectations. The company posted a profit of 20 cents per share on a diluted basis, with a 9% increase in total revenues. This growth was primarily driven by an 8% rise in net premiums and contract deposits. Moreover, the company experienced a surge in sales in property and casualty by 37%, and the supplemental and group benefit segment saw a 20% increase.
Horace Mann has also announced the appointment of Ryan Greenier as the Executive Vice President and Chief Financial Officer, effective from October 1, 2024. Greenier, who has held various leadership roles within the company, including Chief Investment Officer and Senior Vice President of Finance, will succeed Bret Conklin. Additionally, Chief Operating Officer Stephen McAnena has taken over the company's Worksite division as part of Horace Mann's commitment to its strategic vision.
However, the company noted a decrease in core earnings in the life and retirement segment by 29% due to lower income from commercial mortgage loan funds and higher interest credited. Despite this, Horace Mann remains on track to achieve underwriting profit by 2024 and aims for improved profitability by 2025, with a robust investment portfolio and strategic capital management, including share repurchases at an average price of $33.30.
InvestingPro Insights
While Marita Zuraitis's recent stock transactions have caught attention, it's worth examining Horace Mann Educators Corp's (NYSE:HMN) broader financial picture. According to InvestingPro data, the company boasts a market capitalization of $1.49 billion and a P/E ratio of 18.73, suggesting a reasonable valuation relative to earnings.
Horace Mann has demonstrated a commitment to shareholder returns, with InvestingPro Tips highlighting that the company has raised its dividend for 14 consecutive years and maintained dividend payments for 33 consecutive years. This track record of consistent dividend growth may be particularly appealing to income-focused investors. The current dividend yield stands at 3.68%, which is attractive in the current market environment.
Furthermore, Horace Mann's financial health appears solid. An InvestingPro Tip indicates that the company's liquid assets exceed short-term obligations, suggesting a strong balance sheet position. This financial stability, combined with the expectation that net income will grow this year, paints a positive picture for the company's near-term prospects.
Investors seeking a more comprehensive analysis can find additional insights on InvestingPro, which offers 6 more tips for Horace Mann Educators Corp.
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