On July 1st, 2025, I observed Marita Zuraitis, the President and CEO of Horace Mann Educators Corporation (HMN, holding 1.10%), sell off a batch of 5,000 shares in an open market deal, amounting to a total value of $214,350.
Transaction summary
| Metric | Value |
|---|---|
| Shares Traded | 5,000 |
| Transaction Value | $214,350 |
| Post-Transaction Shares | 307,154 |
| Post-Transaction Value | $12.46 million as of July 3, 2025 |
Key questions
Let me explain how this transaction aligns with Marita Zuraitis’s usual trading patterns: This sale falls in line with her median trade volume of 5,000 shares, but it is significantly smaller than the larger trades she makes approximately 25% of the time, which average around 52,758 shares. On average, Marita engages in about 7.3 trades per year, suggesting a fairly active trading frequency.
How does this deal affect the percentage of shares owned by insiders within the corporation? Following the transaction, she possesses approximately 307,154 shares, which equates to about 0.75% of the issued and outstanding shares, thereby preserving a substantial ownership in the company’s equity.
Company overview
| Metric | Value |
|---|---|
| Market Capitalization | $1.65 billion |
| Trailing 12-Month Revenue | $1.57 billion |
| Net Income (TTM) | $114.5 million |
| Dividend Yield | 3.43% |
Company snapshot
Horace Mann Educators Corporation is a financial services company that caters specifically to the education sector. They offer a wide range of services including property and casualty insurance, additional insurance options, life and retirement solutions, as well as student loan assistance. Utilizing a multi-line platform, they distribute these products through a specialized sales force who primarily work with educators and school staff within the K-12 system.
This business caters to public school teachers, administrators, and their families nationwide, offering customized financial services specifically designed for the educational sector.
Foolish take
It appears that CEO Marita Zuartis’ recent trade is typical. The amount involved, roughly $214,000, is relatively small compared to her overall stock holdings. Insiders may choose to sell shares for a variety of reasons.
So far this year, Horace Mann has had an impressive run, as its operating income more than doubled compared to the previous six quarters. This significant growth has been reflected in the stock’s performance over the past year, which yielded a return of 18%. Remarkably, this outperformed the S&P 500’s return of 11% for the same period. The company’s Property and Casualty (P&C) segment started the year on a high note, reporting a robust first quarter with a combined ratio of 89.4%. This favorable figure underscores the strong profitability, boosted by an 8% increase in net written premiums within this segment.
Management is equally emphasizing business growth through the broadening of sales and distribution networks, coupled with the strategic application of technology. The organization unveiled a unique customer relationship management tool, dubbed Catalyst, which not only improves interactions with customers but also optimizes the performance of our insurance agents.
Observing from here, it appears Horace Mann’s share price is significantly lower than its historical averages over the past five and ten years, with a trailing 12-month price-to-earnings ratio of 14.9 compared to an average of 30 and 25 respectively. However, given the management’s apparent focus on growth and the stock’s current outperformance against the broader market, there seems to be a strong possibility that it might be undervalued.
Glossary
1. Insider: An individual with access to confidential company information, such as an executive, director, or significant shareholder
2. Open market transaction: The act of buying or selling securities on a public exchange without private or pre-arranged deals
3. Median trade size: The middle value of all trade sizes made by an insider, representing typical transaction volume
4. 75th percentile trade size: A trade larger than 75% of all other trades executed by the insider, indicating unusual activity
5. Material equity stake: A substantial ownership position in a company, often enough to influence decisions
6. Moving average (MA50, MA200): The average stock price over the previous 50 or 200 days, used to identify trends
7. Insider ownership: The proportion of a company’s shares owned by executives, directors, and key employees
8. Insurance holding company: A parent organization that owns one or more insurance businesses without directly selling insurance itself
9. Dividend yield: The annual dividend payment divided by the current stock price, expressed as a percentage
10. Supplemental insurance: Additional coverage to complement primary policies, covering any gaps or extra expenses
11. Dedicated sales force: A team of employees who focus on selling products directly to specific customers
12. Trailing 12-Month (TTM): Financial data from the most recent 12 months, not limited by either calendar or fiscal year.
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2025-07-17 23:55