Raymond James Starts Horace Mann Educators (HMN) at Strong Buy

Raymond James analyst Wilma Burdis initiates coverage on Horace Mann Educators (NYSE: HMN) with a Strong Buy rating and a price target of $42.00.

The analyst comments "Assuming coverage with a Strong Buy; our $42 target price implies 28% upside potential. HMN offers property, auto, and life insurance, and retirement products to the attractive educators market. HMN’s plan should achieve targeted double-digit tangible ROE in 2025. ● Strengthening P&C profitability on 10-15% rate increase in 2024 and as underappreciated new catastrophe loss (cat) mitigation program takes effect. HMN is a “fast follower” in implementing roof schedules (which it has rolled out in one-third of states) and is adopting a predictive platform to increase pricing accuracy; we think these efforts will sharply improve combined ratios (CRs) over 12-18 months."

For an analyst ratings summary and ratings history on Horace Mann Educators click here. For more ratings news on Horace Mann Educators click here.

Shares of Horace Mann Educators closed at $32.76 yesterday.

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