SPRINGFIELD, IL—Bret A. Conklin, Executive Vice President of Horace Mann Educators Corp (NYSE:HMN), recently sold shares worth approximately $1.12 million, according to a regulatory filing with the Securities and Exchange Commission. The transactions, dated November 7 and 8, involved the sale of common stock at prices ranging from $41.107 to $41.886 per share.
The filing indicates several sales, including 2,655 shares at a weighted average price of $41.886, 3,778 shares at $41.819, 8,239 shares at $41.829, and 12,345 shares at $41.107. Following these transactions, Conklin retains direct ownership of 58,896.232 shares.
Additionally, Conklin exercised stock options to acquire shares at prices between $31.01 and $32.35, totaling $477,790. These options were converted into common stock, increasing his holdings before the subsequent sales.
The transactions were part of routine financial management by Conklin, who holds a significant position within Horace Mann, a company specializing in providing insurance and financial solutions for educators.
In other recent news, Horace Mann Educators reported significant growth in the third quarter of 2024, with an increase of 73% in core earnings to $31.3 million and a rise of 9% in revenues. Despite a $22.5 million impact from Hurricane Helene, the company noted improvements in loss ratios due to a multi-year profitability strategy and sales growth in Auto, Life, and Individual Supplemental Lines. Analyst firm Keefe, Bruyette & Woods recently adjusted their stance on Horace Mann, downgrading the stock from Outperform to Market Perform, but raised its price target to $44.00, up from $39.00. The firm also increased its earnings per share (EPS) estimates for Horace Mann, expecting higher income from the Property & Casualty and Supplemental & Group Benefits sectors. These are among the recent developments for Horace Mann Educators Corp.
InvestingPro Insights
Horace Mann Educators Corp (NYSE:HMN) has demonstrated strong performance recently, with its stock trading near its 52-week high and showing robust returns over the past month and quarter. This aligns with the timing of Executive Vice President Bret A. Conklin's recent stock transactions.
According to InvestingPro data, HMN's market capitalization stands at $1.71 billion, with a price-to-earnings ratio of 16.71, suggesting a reasonable valuation relative to earnings. The company's revenue growth of 10.71% over the last twelve months indicates positive business momentum, which may have contributed to the stock's recent strength.
InvestingPro Tips highlight that Horace Mann has raised its dividend for 14 consecutive years and maintained payments for 33 years, underscoring its commitment to shareholder returns. This consistent dividend policy, coupled with a current dividend yield of 3.23%, may be attractive to income-focused investors.
The company's financial health appears solid, with InvestingPro Tips noting that liquid assets exceed short-term obligations. This strong balance sheet position supports the company's ability to sustain its dividend policy and potentially fund future growth initiatives.
Investors seeking a more comprehensive analysis can access additional insights through InvestingPro, which offers 10 more tips for Horace Mann Educators Corp.
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