Horace Mann Educators Corp Stock Price, News & Analysis

Horace Mann Educators Corporation (NYSE:HMN) has raised its 2021 EPS guidance by over 15%, now expecting $3.50 to $3.70, up from $3.00 to $3.20. This revision is driven by strong second-quarter net investment income and lower catastrophe losses, estimated at $15 million to $18 million, significantly under previous expectations. The company anticipates total net investment income for the year to reach $385 million to $405 million. Despite signs of improving Auto loss ratios, Supplemental policyholder behavior remains sluggish as the post-vaccine environment unfolds.

Horace Mann Educators Corporation (NYSE:HMN) has declared a quarterly cash dividend of $0.31 per share, scheduled for payment on June 30, 2021. The record date for shareholders is June 16, 2021. Founded in 1945, Horace Mann focuses on financial services for educators, providing insurance and retirement solutions.

Horace Mann reported solid Q1 2021 results, with total revenues of $322 million, up 4.8% from Q1 2020. Net income surged 112.4% to $39.3 million, translating to EPS of $0.93, an increase of 111.4%. Core earnings reached $46.4 million, a 40.6% rise year-over-year. Book value per share also grew by 14.1% to $40.83. The company anticipates full-year core EPS guidance of $3.00 to $3.20. While the Property and Casualty segment saw a decline in premiums written, improvements in the combined ratio to 86.2% highlight operational efficiency. Overall, the positive performance indicates strength as the company adapts post-pandemic.

Horace Mann Educators Corporation (NYSE:HMN) will release its Q1 2021 financial results on May 4, after market close. The quarterly news release and investor materials will be accessible on the company’s investor website. A conference call to discuss the results is scheduled for May 5 at 9 a.m. ET, available via webcast or by calling 844-735-3325. Founded in 1945, Horace Mann specializes in insurance and retirement solutions for educators, headquartered in Springfield, Ill.

According to a March 2021 report by Horace Mann Educators Corporation (NYSE:HMN), over 97% of K-12 educators believe students have experienced significant learning losses due to the COVID-19 pandemic. The study highlights that 57% of educators feel students are more than three months behind in social-emotional learning. Many educators express concern about the widening gap between struggling and high-performing students. However, the 2021-2022 school year offers potential for recovery as vaccines become available and social distancing guidelines adjust. Suggestions from educators include focusing on key concepts and increasing support for students.

Horace Mann Educators Corporation (NYSE:HMN) announced the departure of Wade Rugenstein, EVP Supplemental, effective April 15, 2021. Rugenstein joined Horace Mann in July 2019 during the acquisition of NTA Life Enterprises. His contributions were significant in integrating NTA into the Supplemental Insurance segment, which generated $43.1 million in core earnings for 2020. Following his exit, responsibilities will be redistributed among the existing leadership to maintain growth in the company's financial solutions for educators.

Horace Mann Educators Corporation (NYSE:HMN) has announced a 3.3% increase in its quarterly cash dividend, raising it to $0.31 per share, with an indicated annual dividend of $1.24 per share. This marks the 13th consecutive year of dividend increases. The dividend will be payable on March 31, 2021, to shareholders of record as of March 17, 2021. The company continues to repurchase shares, having acquired almost 40,000 shares in February for $1.5 million. Core earnings per share for 2021 are projected between $3.00 and $3.20.

Horace Mann Educators Corporation (NYSE:HMN) reported that its Student Loan Solutions (SLS) program identified over $100 million in Public Service Loan Forgiveness (PSLF) opportunities for educators in 2020, raising the lifetime total to over $350 million. The SLS program offers resources and coaching to help public school educators achieve loan forgiveness. Over 85% of participants benefit from reduced payments, saving an average of $330 monthly, or over $4,000 annually. The program is freely available to districts and educators, extending through the 2021-2022 school year.

Horace Mann Educators Corporation (NYSE:HMN) has established the Horace Mann Educators Foundation with an initial contribution of $1 million. The Foundation aims to support educators in enhancing student success through critical resources and initiatives. Its first grant of $25,000 will fund a social-emotional learning program in Springfield Public Schools. Additionally, the Foundation will match employee donations to nonprofit organizations, promoting community engagement. This initiative underscores Horace Mann's long-term commitment to educators and their communities.