UPDATE: Piper Sandler Upgrades Horace Mann Educators (HMN) to Overweight on Improved Earnings Prospects

August 19, 2022 3:27 AM EDT
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Price: $36.06 -0.39%

Rating Summary:
    2 Buy, 5 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 8 | Down: 9 | New: 24
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(Updated - August 19, 2022 8:42 AM EDT)

Piper Sandler analyst John Barnidge upgraded Horace Mann Educators (NYSE: HMN) from Neutral to Overweight with a price target of $42.00 (from $38.00) following investor meetings on improved earnings prospects.

The analyst commented, "Representing HMN in meetings: 1) President & CEO – Marita Zuraitis, 2) EVP, CFO – Bret Conklin, 3) EVP, Supplemental & Group Benefits – Matt Sharpe, 4) SVP, Chief Investment Officer– Ryan Greenier, 5) SVP, Life & Retirement – Mike Weckenbrock, 6) Mark Desrochers – SVP, P&C & Chief Corporate Actuary & 7) VP, Investor Relations – Heather Wietzel. We are upgrading shares to Overweight with our takeaways suggesting improved earnings prospectively. 1) Given pricing actions needed are industry-related & not HMN-specific, retention should be stable. 2) ’22 back-to-school is the first “normal” back-to-school since ’19, which sets up a strong distribution tailwind in our opinion. 3) We believe ’22 guidance could prove conservative. 4) We are now out of HMN’s historically most active catastrophe loss quarter."

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 $37.62 yesterday.

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