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Bret A. Conklin, Executive Vice President of Horace Mann Educators Corp (NYSE:HMN), a $1.78 billion market cap education-focused financial services company trading near its 52-week high of $44.44, recently reported a series of stock transactions. According to InvestingPro data, the company maintains a healthy P/E ratio of 15.79 and offers a 3.23% dividend yield. On May 28 and 29, Conklin sold a total of 20,200 shares of common stock, generating approximately $877,545. The shares were sold at prices ranging from $43.182 to $43.535.
In addition to the sales, Conklin exercised options to acquire 10,000 shares of common stock at a price of $38.99 per share, totaling $389,900. After these transactions, Conklin’s direct ownership stands at 56,362.813 shares.
In other recent news, Horace Mann Educators Corporation has extended its credit agreement with PNC Bank, pushing the termination date to May 19, 2030. This strategic amendment ensures the company’s financial flexibility, with $325 million in available commitments. Additionally, Raymond (NSE:RYMD) James has increased its price target for Horace Mann shares to $49, maintaining a Strong Buy rating, citing the company’s solid distribution network and durable customer relationships. The firm also revised its earnings per share estimates for the next three years, reflecting a positive growth outlook. Meanwhile, JMP analysts have reiterated a Market Perform rating on Horace Mann, noting the company’s efforts to achieve target margins in the property and casualty insurance sector by 2025.
Horace Mann also reported outcomes from its Annual Meeting of Shareholders, including the election of nine directors and the approval of executive compensation. Furthermore, the company announced a new $50 million share repurchase program as part of its strategy to enhance shareholder value. This follows $130.9 million in repurchases since 2011. The company continues to focus on strategic growth initiatives, as highlighted during their recent Investor Day in New York City. These developments indicate Horace Mann’s ongoing commitment to financial planning and shareholder relations.
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