Horace Mann Educators Corp Stock Price, News & Analysis

Horace Mann Educators Corporation (NYSE:HMN) announced its expected core earnings per share (EPS) for Q1 2023 in the range of $0.21 to $0.23, impacted by significant catastrophe losses due to weather events, particularly in March. Catastrophe losses are projected at $22 million to $23 million, compared to $7.3 million in the same quarter last year, contributing 15 points to the combined ratio. Despite these challenges, the company maintains its full-year EPS outlook between $2.00 and $2.30 and aims for a double-digit return on equity by 2024, with core EPS anticipated to reach $4. A financial results conference call is scheduled for May 3.

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.