SPRINGFIELD, Ill.—Marita Zuraitis, President and CEO of Horace Mann Educators Corp (NYSE:HMN), recently sold 4,000 shares of the company's common stock. The transaction, which took place on December 2, 2024, was executed at a price of $41.97 per share, totaling approximately $167,880. This sale was conducted under a Rule 10b5-1 trading plan that Zuraitis adopted earlier this year on March 14. The stock has shown strong momentum, delivering a 29% return year-to-date, according to InvestingPro data.
Following the sale, Zuraitis retains ownership of 300,541.748 shares, which includes both vested restricted stock units and common stock. The transaction reflects her continued management of her equity stake in the company. Horace Mann Educators Corp, based in Springfield, Illinois, specializes in providing insurance products and financial solutions tailored for educators. The company maintains a strong financial profile with a "GOOD" health score from InvestingPro, offering a 3.3% dividend yield and having maintained dividend payments for 33 consecutive years. Analysis from InvestingPro suggests the stock is currently trading near its Fair Value, with additional insights available in the comprehensive Pro Research Report.
In other recent news, Horace Mann Educators Corp. has seen significant developments. The company reported a robust growth in the third quarter of 2024, with core earnings increasing by 73% to $31.3 million and revenues rising by 9%. This growth occurred despite a $22.5 million impact from Hurricane Helene. In addition, the company noted improvements in loss ratios due to a multi-year profitability strategy and sales growth in Auto, Life, and Individual Supplemental Lines.
Furthermore, Keefe, Bruyette & Woods downgraded the stock from Outperform to Market Perform, despite raising 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 (EPS) estimates for Horace Mann, with the 2024 EPS estimate raised to $2.60 from $2.50, and the estimates for 2025 and 2026 adjusted upward to $3.55 and $4.00, respectively.
These developments come as Horace Mann'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. However, the Supplemental & Group Benefits segment experienced a 6% decrease in core earnings. These are among the recent developments for Horace Mann Educators Corp.
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