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SPRINGFIELD, IL—Marita Zuraitis, President and CEO of Horace Mann Educators Corp (NYSE:HMN), has recently sold 4,000 shares of the company's common stock, according to a filing with the Securities and Exchange Commission. The company, which InvestingPro analysis shows maintains a "GOOD" financial health score, has demonstrated strong dividend reliability with 33 consecutive years of payments. The transaction, executed on January 2, 2025, was conducted under a Rule 10b5-1 trading plan that Zuraitis adopted on March 14, 2024. The shares were sold at a price of $39.40 each, amounting to a total of $157,600. According to InvestingPro data, the company appears undervalued based on its Fair Value analysis, with a healthy current ratio of 2.82 and a P/E ratio of 15.28.
Following this sale, Zuraitis retains direct ownership of 298,324.133 shares, which includes 207,438.133 vested restricted stock units and 90,886 shares of common stock. This transaction is part of routine financial planning for executives and does not necessarily indicate any change in the executive's confidence in the company's prospects, particularly given the company's strong fundamentals and expected net income growth this year.
In other recent news, Horace Mann Educators Corp. has reported significant growth in its third quarter of 2024. The company's core earnings increased by 73% to $31.3 million, while revenues rose by 9%, despite a $22.5 million impact from Hurricane Helene. This growth was attributed to improvements in loss ratios and sales growth in Auto, Life, and Individual Supplemental Lines.
Meanwhile, Keefe, Bruyette & Woods adjusted their stance on Horace Mann, downgrading the stock from Outperform to Market Perform. Despite the downgrade, the firm raised its price target on the shares to $44.00 and increased its earnings per share (EPS) estimates for Horace Mann. The firm's revised EPS expectations are based on anticipated higher income from the Property & Casualty and Supplemental & Group Benefits sectors.
The company also repurchased 256,000 shares at a cost of $8.5 million. Despite a 6% decrease in core earnings in the Supplemental & Group Benefits segment, the company's management maintains its full-year core EPS guidance of $2.40 to $2.70. These are among the recent developments for Horace Mann Educators Corp.
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