Donald M. Carley, the General Counsel of Horace Mann Educators Corp (NYSE:HMN), recently executed several stock transactions. On November 7, Carley sold a total of 4,187 shares of the company's common stock, with prices ranging from $42.40 to $42.92 per share, totaling approximately $178,406.
In addition to the sales, Carley acquired 14,988 shares through stock options at an exercise price of $31.01, amounting to $464,777. These transactions were part of his overall strategy to manage his holdings in the company. After these transactions, Carley holds 29,913.903 shares, which include vested restricted stock units and common stock.
In other recent news, Horace Mann Educators Corp. experienced a robust third quarter in 2024, with core earnings increasing by 73% to $31.3 million and revenues rising by 9%. Despite the $22.5 million impact from Hurricane Helene, the company noted improvements in loss ratios and sales growth in Auto, Life, and Individual Supplemental Lines. However, the Supplemental & Group Benefits segment saw a 6% decrease in core earnings.
Keefe, Bruyette & Woods recently downgraded Horace Mann's stock from Outperform to Market Perform, despite raising its price target to $44.00 from $39.00. The firm justified this change by pointing out a significant rise in Horace Mann's shares following recent election results.
Additionally, Keefe, Bruyette & Woods has increased its earnings per share (EPS) estimates for Horace Mann, taking into account better-than-expected performance. The 2024 EPS estimate was raised to $2.60 from $2.50, and the estimates for 2025 and 2026 have 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, offset by a projected decrease in income from the Life & Retirement segment.
These are among the recent developments for Horace Mann Educators Corp.
InvestingPro Insights
As Donald M. Carley adjusts his position in Horace Mann Educators Corp (NYSE:HMN), investors may find additional context in the company's recent performance and financial health. According to InvestingPro data, HMN's stock has shown impressive momentum, with a 21.27% price return over the past month and a robust 27.92% return over the last three months. This strong performance has brought the stock price to 97.16% of its 52-week high, indicating significant investor confidence.
InvestingPro Tips highlight that Horace Mann has raised its dividend for 14 consecutive years, demonstrating a commitment to shareholder returns. This is particularly noteworthy given the company's current dividend yield of 3.21%. The company's financial stability is further underscored by the fact that its liquid assets exceed short-term obligations, suggesting a solid balance sheet.
For investors seeking a deeper understanding of HMN's valuation, the company trades at a P/E ratio of 16.71, which is relatively moderate. This, coupled with a Price to Book ratio of 1.33, may indicate potential value for investors. Additionally, with revenue growth of 10.71% over the last twelve months, Horace Mann appears to be on a positive trajectory.
These insights from InvestingPro provide valuable context to Carley's recent stock transactions. Investors interested in a more comprehensive analysis can access additional tips and metrics through the InvestingPro product, which offers a total of 11 tips for Horace Mann Educators Corp.
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