UPDATE: Piper Sandler Upgrades Horace Mann Educators (HMN) to Overweight on Improved Earnings Prospects
- Wall Street ends sharply lower as jobs report cements rate hike regime
- Rebound in Stocks is Limited, Fade Any Further Squeeze; Stay Bullish on Dollar - Citi
- 5 Top AMD Analysts Reflect on Preliminary Results, Shares Down 5%
- Weekly Inflow to Cash of $88.8 Billion Was Highest Since Pandemic - BofA
- Oil jumps 4% to 5-week high lifted by OPEC+ output cut
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."
Shares of Horace Mann Educators closed at $37.62 yesterday.
You May Also Be Interested In
- Navient (NAVI) and SLM Corporation (SLM) Near-Term Risks Skew Negative - Morgan Stanley
- ASMedia Technology inc. (5269:TT) PT Lowered to NT$860 at Nomura/Instinet
- Titan Company (TTAN:IN) PT Raised to INR3,100 at Macquarie
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Upgrades
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!