Horace Mann Educators Corp Stock Price, News & Analysis

Horace Mann Educators Corporation (NYSE:HMN) reported a second-quarter net loss of $0.30 per share, attributed to high catastrophe losses and inflation's impact on auto insurance. Total revenues decreased slightly by 0.2% to $346.3 million, while net investment income was $79 million. Core EPS guidance for 2022 has been revised upward to $2.15 to $2.35. Sales momentum in the Supplemental & Group Benefits segment surged 83%. However, the Property & Casualty segment experienced a significant net loss, with a combined ratio of 126.9%. The company remains focused on enhancing shareholder value through share repurchase programs.

AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and Long-Term Issuer Credit Ratings of 'a' (Excellent) for Horace Mann Insurance Group and its subsidiaries. The FSR for Madison National Life is A- (Excellent), and the Long-Term ICR for Horace Mann Educators Corporation (HMN) is 'bbb' (Good). The outlook for all ratings is stable, reflecting strong balance sheet strength and adequate operating performance across the group. Horace Mann Life is a leading provider of fixed and variable annuities for educators, demonstrating consistent operating gains and favorable persistency.

Horace Mann Educators Corporation (NYSE:HMN) updated its full-year 2022 earnings guidance due to higher catastrophe losses and equity market declines. The new core earnings per share estimate is $2.10 to $2.30, with a second-quarter loss per share of 10 to 20 cents. Catastrophe losses are projected at $44 million to $47 million for Q2. Despite these challenges, sales momentum in the Supplemental & Group Benefits segment remains strong, and the company continues to support policyholders affected by severe weather. The second-quarter financial results will be announced on August 4.

Horace Mann Educators Corporation (NYSE: HMN) has authorized a share repurchase program of up to $50 million, following a total of $95.5 million repurchased since 2011. The company targets a 10% average annual EPS growth and plans to generate over $50 million in excess capital annually. A quarterly cash dividend of $0.32 per share was declared, reflecting a 3.2% increase from March 2022. This commitment underscores Horace Mann's intention to enhance shareholder value while continuing strategic growth initiatives.

Horace Mann Educators Corporation (NYSE:HMN) reported Q1 2022 results with revenues of $346.8 million, up 7.7% year-over-year. Net income plummeted 63.1% to $14.5 million, while core earnings fell 42.5% to $26.7 million. Property & Casualty earnings dropped significantly due to inflation and rising auto loss costs, with a combined ratio of 98.4% compared to 86.2% last year. Despite challenges, the company expects EPS to grow at an average annual rate of 10% from 2023. The adjusted book value per share rose 5% year-over-year, signaling some resilience amidst financial headwinds.

Horace Mann Educators Corporation (NYSE:HMN) will release its first-quarter 2022 results on May 5 after the market closes. A conference call to discuss these results is scheduled for May 6 at 11 a.m. Eastern Time. The company is restructuring its financial reporting into three segments: Property & Casualty, Life & Retirement, and Supplemental & Group Benefits, which includes results from the recently acquired Madison National Life Insurance Company. Historical data reflecting these changes is available on their investor site.

Horace Mann Educators Corporation (NYSE:HMN) has released its 2021 Corporate Social Responsibility report, emphasizing its commitment to stakeholder interests and progress towards net-zero carbon emissions. The report details a materiality assessment focused on key ESG topics, including business ethics and data privacy. The company aims to halve its Scope 1 and 2 carbon emissions by 2030 and achieve net-zero by 2050. Notably, initiatives at its headquarters like solar panel installation and HVAC upgrades are already underway. The report also highlights the Horace Mann Educators Foundation's community support efforts.

Horace Mann Educators Corporation (NYSE:HMN) announced a 3.2% increase in its quarterly cash dividend to $0.32 per share, resulting in an indicated annual dividend of $1.28. This marks the 14th consecutive year of dividend increases and reflects the company's commitment to long-term shareholder value. CEO Marita Zuraitis emphasized expectations of generating over $50 million in excess capital annually and targeted core earnings per share between $3.45 and $3.65 for 2022. The dividend is payable on March 31, 2022.

Horace Mann Educators Corporation (NYSE:HMN) announced its President & CEO Marita Zuraitis will present at Raymond James & Associates’ 43rd Annual Institutional Investors Conference in Orlando, Florida, on March 8, 2022, at 11 a.m. ET. A live audio webcast will be accessible via the Events page on the company’s investor relations website, with a replay available later that same day. Founded in 1945, Horace Mann focuses on providing financial services tailored for educators, headquartered in Springfield, Illinois.