Horace Mann Educators Corporation - HMN STOCK NEWS

Horace Mann Educators Corporation (NYSE: HMN) announced the appointment of Stephen J. McAnena as Executive Vice President and Chief Operating Officer, effective May 8, 2023. McAnena brings extensive experience from his previous roles at Farmers Insurance and Liberty Mutual, where he successfully drove profitable growth. His focus at Horace Mann will be on retail market opportunities to support household acquisition and market share expansion, aligning with the company's goal to provide tailored solutions for educators. CEO Marita Zuraitis expressed confidence in McAnena's ability to enhance value and advance the company’s strategic plans. Founded in 1945, Horace Mann is dedicated to helping educators achieve financial success.

Horace Mann Educators Corporation (NYSE:HMN) is set to release its first-quarter 2023 results on May 2, after market close. The quarterly news release, investor supplement, and presentation will be accessible on its website. A conference call to discuss these results will occur on May 3 at noon Eastern Time, with access available via the Events page or by calling 844-735-3325. Additionally, the company has adopted the FASB's Accounting Standard Update 2018-12, effective January 1, 2023, with adjustments reflected in its Fourth Quarter 2022 Investor Supplement.

Horace Mann Educators Corporation (NYSE:HMN) has released its 2022 Corporate Social Responsibility report, highlighting significant achievements in sustainability and community support. The company has reached a 50% reduction in carbon emissions ahead of its 2030 target, thanks to initiatives like installing energy-efficient HVAC systems and solar panels. In 2022, Horace Mann contributed nearly $1 million to various charitable causes, focusing on supporting educators amid a U.S. teacher shortage. The firm is committed to achieving net-zero carbon emissions by 2050 and enhancing transparency in its corporate governance practices.

Horace Mann Educators Corporation (NYSE:HMN) announced a 3.1% increase in its quarterly cash dividend to $0.33 per share, payable on March 31, 2023, to shareholders of record as of March 16, 2023. This marks the 15th consecutive year of dividend increases, showcasing a commitment to shareholder value. Management projects a return to double-digit return on equity (ROE) by 2024 with core EPS nearing $4. Strong sales growth is reported, with Worksite Division sales up over 150% in early 2023. Rate increases for auto (18%-20%) and property (12%-15%) are on track for targeted combined ratios in 2024.

Horace Mann Educators Corporation (NYSE: HMN) reported a significant net loss of $18.5 million, or $0.45 per share, for Q4 2022, and an annual net loss of $2.6 million, or $0.06 per share. Core earnings for 2022 were $45.7 million, or $1.09 per share, but a core loss of $4.7 million, or $0.11 per share, was recorded for Q4. The company experienced realized investment losses and elevated loss costs in its Property & Casualty segment, which saw a combined ratio of 128%. The firm anticipates 2023 core earnings per share between $2.00 and $2.30 and aims for a return on equity (ROE) of approximately 10% by 2024.

According to a February 2023 report by Horace Mann Educators Corporation (NYSE: HMN), over 60% of public K-12 educators are contemplating leaving their positions. Factors driving this trend include staff shortages, stress, and financial concerns. The research indicates that 30% of educators plan to exit the profession within three years, with an additional 33% considering it. Furthermore, 80% of educators believe understaffing significantly impacts both students and teachers. While educators seek improved salaries and support, chronic understaffing is pushing many towards leaving, raising concerns about the educational workforce's future.

Horace Mann Educators Corporation (NYSE:HMN) expects a fourth-quarter loss of $25 million to $29 million after tax, primarily due to severe weather events like Winter Storm Elliott, which caused approximately $8 million in property losses. The company is also increasing reserves by roughly $14 million for prior claims. Despite these setbacks, management remains committed to long-term profitability and is focusing on increasing rates and enhancing underwriting strategies. The fourth-quarter results will be announced on Feb. 7, with a conference call scheduled for Feb. 8.

Horace Mann Educators Corporation (NYSE:HMN) will announce its fourth-quarter and full-year 2022 results on February 7, after market close. This information, along with an investor supplement and presentation, will be accessible on the company’s website. A conference call to discuss these results is scheduled for February 8 at 12 p.m. Eastern Time, with options for web access or dialing in. Founded in 1945, Horace Mann focuses on providing financial services tailored for educators, aiming to support their lifelong financial success.

Horace Mann Educators Corporation (NYSE:HMN) has declared a quarterly cash dividend of $0.32 per share, payable on December 30, 2022. Shareholders of record as of December 15, 2022 will receive this dividend. Founded in 1945, Horace Mann is dedicated to providing financial services tailored to educators, making it the largest financial services company focused on this community. For more information, visit horacemann.com.