COLUMBUS, Ohio - Huntington Bancshares Incorporated (NASDAQ:HBAN), the parent company of The Huntington National Bank, announced today the appointment of Angie Klett as President of Huntington Insurance, Inc. Klett will take over the role following the retirement of Mary Beth Sullivan on July 1, 2024.
Klett, who has a background in corporate development at Nationwide Insurance, will be in charge of expanding Huntington's insurance division. Her responsibilities will encompass a range of insurance services, including commercial and personal lines, employee benefits, and title insurance. Brant Standridge, Consumer & Regional Banking President, expressed confidence in Klett's expertise and leadership abilities to drive growth within the company.
The outgoing president, Mary Beth Sullivan, is recognized for her significant contribution to the growth and expansion of Huntington Insurance over her nearly two-decade tenure. Standridge acknowledged Sullivan's role in positioning the insurance business for continued success in delivering customer service and expertise.
Before her new role at Huntington, Klett held the position of Senior Vice President of Corporate Development at Nationwide Insurance. There, she was responsible for mergers and acquisitions, strategic partnerships, and led Nationwide Brokerage Solutions. Klett's professional history includes leadership roles in finance, procurement, product development, technology, and business transformation.
Huntington Bancshares Incorporated, established in 1866, is a regional bank holding company with assets worth $194 billion. It operates approximately 970 branches across 11 states, providing a wide range of financial products and services. Huntington Insurance, Inc., a wholly-owned subsidiary of Huntington Bancshares Incorporated, offers insurance products underwritten by third-party carriers.
This leadership change is based on a press release statement from Huntington National Bank.
InvestingPro Insights
As Angie Klett steps into her new role as President of Huntington Insurance, Inc., a subsidiary of Huntington Bancshares Incorporated (NASDAQ:HBAN), it's an opportune time to consider the financial health and market performance of the parent company. According to the latest data from InvestingPro, Huntington Bancshares boasts a robust market capitalization of $20.41 billion. The bank's commitment to shareholder returns is evident in its impressive track record of maintaining dividend payments for 54 consecutive years, a testament to its financial stability and prudent management.
Analyzing the company's performance metrics, Huntington Bancshares has demonstrated a high return over the last year, with a 55.23% price total return. This performance is further highlighted by the stock trading near its 52-week high, at 99.44% of the peak value. With a P/E ratio of 12.56, the bank presents itself as a potentially attractive investment, given that analysts predict the company will be profitable this year, having already been profitable over the last twelve months. These financial indicators, coupled with a consistent dividend yield of 4.4%, may appeal to investors looking for both growth and income.
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