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SPRINGFIELD, Ill. - Horace Mann Educators Corporation (NYSE:HMN), a financial services company focusing on educators, has authorized a new share repurchase program of up to $50 million. The announcement comes as part of the company’s long-term strategy to drive shareholder value and follows $130.9 million in repurchases since 2011. According to InvestingPro data, the company maintains strong financial health with a current ratio of 3.02, indicating robust liquidity to support such initiatives.
President and CEO Marita Zuraitis expressed confidence in the company’s capital generation and its commitment to creating shareholder value through both share repurchases and the nearly $60 million in annual cash dividends. The company has maintained dividend payments for 34 consecutive years, with a current yield of 3.33%. The repurchase program is seen as a complement to Horace Mann’s strategic growth initiatives and capital management plan, with analysts projecting 7% revenue growth for fiscal year 2025.
The share repurchase authorization allows Horace Mann to buy back shares on an opportunistic basis, depending on market conditions and other considerations. With the stock currently trading at a P/E ratio of 15.1 and showing positive momentum with a 24.4% return over the past year, these repurchases may be made through various methods, including open market purchases and privately negotiated transactions, without the obligation to acquire a specific number of shares or to complete purchases by a set date.
In addition to the repurchase program, Horace Mann will host an Investor Day today in New York City. The event, scheduled from 10 a.m. to 1 p.m. ET, will include presentations from the executive leadership team, offering insights into strategic initiatives and future visions, complemented by a Q&A session. Interested parties can register to view the live webcast through the company’s investor relations website, with a replay available after the event.
Horace Mann, founded in 1945 and headquartered in Springfield, Illinois, prides itself on providing tailored insurance and financial solutions to educators and those serving the community. This news is based on a press release statement and includes forward-looking statements subject to risks and uncertainties that could cause actual results to differ from those projected.
In other recent news, Horace Mann Educators Corporation reported impressive first-quarter earnings for 2025, exceeding analyst expectations with an earnings per share (EPS) of $1.07, surpassing the forecasted $1.03. The company also reported a significant revenue figure of $416.4 million, well above the anticipated $302.65 million. Horace Mann’s core EPS saw a remarkable 73% year-over-year increase, with total revenues rising by 8%, driven by strong sales across various segments. The company has updated its core EPS guidance for the year to a range of $3.85 to $4.15, reflecting confidence in achieving record core earnings.
Additionally, Horace Mann announced a strategic partnership with Crayola to enhance creative educational programs, including sponsoring Crayola Creativity Week, which reached millions of educators and students. This collaboration aims to provide interactive content and resources to foster creativity in learning. The company’s recent launch of a new customer relationship management system, Catalyst, is expected to bolster operational efficiency. Analysts from firms like Raymond James have shown interest in Horace Mann’s growth in individual supplemental sales, with the company confirming robust sales growth. The company also foresees that California rate increases will positively impact future earnings.
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