HORACE MANN EDUCATORS CORP DE
For the period ended Dec 31, 2023. Filed Feb 27, 2024.
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FY2023 · Filed Feb 27, 2024
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Item 5. Market Information and Dividends
Our common stock is traded on the NYSE under the symbol HMN. The following table provides the high and low bid information of our common stock on the NYSE Composite Tape and the cash dividends paid per share of common stock during the periods indicated.
| Market Price · Dividends | |||
|---|---|---|---|
| Fiscal Period | High | Low | Paid |
| 2023: | |||
| Fourth Quarter | $33.79 | $28.67 | $0.33 |
| Third Quarter | 30.12 | 27.94 | 0.33 |
| Second Quarter | 33.85 | 29.04 | 0.33 |
| First Quarter | 38.10 | 32.33 | 0.33 |
| 2022: | |||
| Fourth Quarter | $40.13 | $35.01 | $0.32 |
| Third Quarter | 39.51 | 32.60 | 0.32 |
| Second Quarter | 42.62 | 34.22 | 0.32 |
| First Quarter | 42.95 | 36.58 | 0.32 |
The payment of dividends in the future is subject to the discretion of the Board and will depend upon general business conditions, legal restrictions and other factors the Board may deem to be relevant. Additional information is contained in Part I - Item 1, Cash Flow and in Part II - Item 8, Note 13 of the Consolidated Financial Statements in this Annual Report on Form 10-K.
Shareholder Return Performance Graph
The graph below sets forth the total five-year shareholder return on our common stock. The graph assumes a $100 investment as of December 31, 2018. The S&P 500 Index and the S&P 500 Insurance Index assume an annual reinvestment of dividends in calculating total return. We assume reinvestment of quarterly dividends when paid.
Comparison of Cumulative Five-Year Total Return to Shareholders
| Dec. 2018 | Dec. 2019 | Dec. 2020 | Dec. 2021 | Dec. 2022 | Dec. 2023 | |
|---|---|---|---|---|---|---|
| HMEC | $100 | $120 | $119 | $113 | $113 | $103 |
| S&P 500 Insurance Index | 100 | 129 | 129 | 169 | 186 | 203 |
| S&P 500 Index | 100 | 126 | 156 | 200 | 164 | 207 |
Holders and Shares Issued
As of February 16, 2024, the number of holders of our common stock was approximately 32,000.
For information required by Item 201(d) of Regulation S-K regarding the equity compensation plan, see Part III - Item 12, of this Annual Report on Form 10-K.
Issuer Purchases of Equity Securities
On May 25, 2022, our Board of Directors authorized a share repurchase program allowing repurchases of up to $50 million (2022 Program) to begin following the completion of the $50 million repurchase plan which was authorized on September 30, 2015 (2015 Program). Both Programs authorize the repurchase of our common shares in open market or privately negotiated transactions, from time to time, depending on market conditions. The Programs do not have expiration dates and may be limited or terminated at any time without notice. During the three months ended September 30, 2022, the 2015 Program was completed and we began repurchasing shares under the 2022 Program.
For the quarterly periods ended 2023 and 2022, we repurchased shares of our common stock under the Programs as follows:
| Period | Total Numberof SharesPurchased | Average PricePaid per Share | Total Number ofShares Purchasedunder the Programs | Approximate DollarValue of Sharesthat may yet bePurchased under the Programs |
|---|---|---|---|---|
| 2023: | ||||
| Fourth Quarter | — | $— | — | $34.9 million |
| Third Quarter | 33,000 | $28.73 | 33,000 | $34.9 million |
| Second Quarter | 35,394 | $32.47 | 35,394 | $35.8 million |
| First Quarter | 128,540 | $34.01 | 128,540 | $36.9 million |
| 2022: | ||||
| Fourth Quarter | — | $— | — | $41.3 million |
| Third Quarter | 295,445 | $33.87 | 295,445 | $41.3 million |
| Second Quarter | 315,625 | $37.40 | 315,625 | $1.3 million |
| First Quarter | 59,746 | $37.14 | 59,746 | $13.1 million |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.