SPRINGFIELD, IL—Beverley J. McClure, a director at Horace Mann Educators Corp (NYSE:HMN), has sold 5,634 shares of the company's common stock. The transaction, which took place on November 11, 2024, amounted to a total value of approximately $237,099.
The shares were sold at a weighted average price of $42.08, with individual transaction prices ranging from $41.35 to $42.35. This sale was part of a pre-arranged trading plan under Rule 10b5-1, which McClure adopted on August 12, 2024.
Following this transaction, McClure holds 19,057.425 shares, which include 12,925.425 vested restricted stock units and 6,132 shares of common stock.
In other recent news, Horace Mann Educators Corp. demonstrated robust growth in the third quarter of 2024, with core earnings increasing by 73% to $31.3 million and revenues rising by 9%. Despite a $22.5 million impact from Hurricane Helene, the company reported improvements in loss ratios and sales growth in Auto, Life, and Individual Supplemental Lines. The firm also repurchased 256,000 shares at a cost of $8.5 million.
Keefe, Bruyette & Woods recently downgraded Horace Mann's stock from Outperform to Market Perform, but raised its price target to $44.00. The firm also increased its earnings per share (EPS) estimates for Horace Mann, anticipating higher income from the Property & Casualty and Supplemental & Group Benefits sectors.
These are among the recent developments for Horace Mann Educators Corp., which continues to maintain its full-year core EPS guidance of $2.40 to $2.70 and aims to achieve a double-digit return on equity by 2025. However, the Supplemental & Group Benefits segment experienced a 6% decrease in core earnings, a factor that investors should consider.
InvestingPro Insights
While Beverley J. McClure's recent sale of Horace Mann Educators Corp (NYSE:HMN) shares might raise eyebrows, a closer look at the company's financials and market performance reveals a more nuanced picture. According to InvestingPro data, HMN's stock has shown strong returns over the past month and quarter, with a 20.55% and 27.54% price total return, respectively. This positive momentum suggests that the market remains optimistic about the company's prospects despite the insider sale.
Furthermore, HMN boasts a solid dividend history, which is often a sign of financial stability. An InvestingPro Tip highlights that the company has maintained dividend payments for 33 consecutive years and has raised its dividend for 14 consecutive years. This commitment to shareholder returns is underscored by the current dividend yield of 3.23%, making HMN an attractive option for income-focused investors.
The company's financial health appears robust, with InvestingPro data showing a revenue growth of 10.71% over the last twelve months as of Q3 2024. Additionally, HMN's P/E ratio of 15.99 suggests that the stock may be reasonably valued compared to its earnings potential. These metrics, combined with the InvestingPro Tip that net income is expected to grow this year, paint a picture of a company with solid fundamentals and growth prospects.
For investors seeking a more comprehensive analysis, InvestingPro offers 6 additional tips that could provide deeper insights into HMN's investment potential. These additional tips, available with an InvestingPro subscription, could offer valuable context to the recent insider transaction and help investors make more informed decisions.
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