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Horace Mann Educators Corporation (NYSE: HMN) is a diversified insurance holding company that offers a comprehensive range of financial services and insurance products tailored specifically for educators and their families. Founded in 1945 by two educators in Springfield, Illinois, the company honors the legacy of Horace Mann, the father of the American public education system. Initially known as the Illinois Education Association Mutual Insurance Company, the firm has since evolved into the largest national multiline insurance company dedicated to serving America's educators.
Horace Mann provides personalized service and advice through its professional agents and staff, offering insurance and financial products to the educational community across the United States. The company's core offerings include auto, homeowners, and life insurance, as well as retirement annuities. Their financial products are designed to ensure lifelong financial well-being for educators and their families.
The company's segments include Property and Casualty, which focuses on automobile and homeowner insurance, Supplemental & Group Benefits, Life & Retirement, which offers 403(b) tax-qualified retirement annuities, and Corporate and Other. Horace Mann employs several former teachers in its salesforce, ensuring that they understand the unique needs of their clientele.
Recently, Horace Mann announced a partnership with SimpliSafe, a maker of award-winning home security systems. This partnership provides Horace Mann policyholders with exclusive discounts on SimpliSafe systems, ensuring both financial and physical security for educators. This collaboration underscores the company's commitment to offering exceptional customer experiences and enhanced security solutions for educators.
The financial stability of Horace Mann Educators Corporation is noteworthy, with a strong commitment to ethical practices and community service. The company continues to grow and innovate, ensuring that they meet the evolving needs of the educational community. For more information, visit the company's website at horacemann.com.
A Horace Mann Educators (NYSE:HMN) survey reveals that educators face significant challenges as they prepare for the upcoming school year. Rising supply costs and preparation time are primary concerns. 25% of teachers spend over $500 of their own money on classroom supplies annually, while another 25% spend more than $300.
Teachers are working unpaid hours during summer vacations to prepare classrooms, create lesson plans, and attend workshops. Many feel there's insufficient time to complete all tasks before students arrive. To address these challenges, Horace Mann has launched the 'Set for Success' Sweepstakes, offering 100 educators a chance to win a $250 gift card and 25 schools an opportunity to receive $1,000 for welcoming teachers back.
Horace Mann Educators (NYSE:HMN) has revised its full-year 2024 core EPS guidance to $2.40-$2.70, with Q2 core EPS expected at $0.18-$0.20. The revision is primarily due to lower-than-expected net investment income from valuation adjustments in commercial mortgage loan funds. Despite this, the company reports strong sales growth across multiple business lines, with P&C sales increasing over 30%.
The company narrowed its P&C segment earnings guidance to $36-$39 million, with Q2 catastrophe losses estimated at $40-$42 million pretax. The Supplemental & Group Benefits segment's full-year earnings estimate was increased to $49-$52 million due to lower-than-expected benefits utilization. Horace Mann remains confident in achieving a 10% return on equity by 2025 through its P&C restoration strategy and profitable growth initiatives.
Horace Mann Educators (NYSE: HMN) will release its second-quarter 2024 financial results on August 7, after market close. The Quarterly Report on Form 10-Q, quarterly news release, investor supplement, and presentation will be available on the company's investor website.
A conference call to discuss these results is scheduled for August 8 at 9:00 a.m. Eastern Time. Investors can access the webcast through the company's investor site or by dialing 844-735-3325. An on-demand replay will be available later that day.
Horace Mann Educators (NYSE: HMN) has declared a quarterly cash dividend of $0.34 per share.
The dividend will be payable on June 28, 2024, to shareholders who are on record as of June 13, 2024.
Horace Mann Educators (NYSE:HMN) reported strong first-quarter 2024 results with net income of $27 million, core earnings of $25 million, and total revenue increasing by 9%. The Property & Casualty segment saw significant improvement, generating a profit of $11 million. The company maintained its full-year 2024 core EPS guidance of $3.00-$3.30. Horace Mann remains confident in its long-term objectives, focusing on expanding its market share and achieving a sustainable double-digit ROE by 2025.
Horace Mann Educators (HMN) shared insights from a survey of America’s K-12 educators, revealing their challenges, passion for teaching, and the need for support. Educators highlight concerns such as student behavior, workload, mental health services, and the impact of AI. Horace Mann launches the "Beyond Grateful" campaign to show appreciation for teachers with free activities and support.
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