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Horace Mann Educators Corporation
NYSE: HMN Financials Insurance 🔎 Screen
🏹 Trader: 🎯 Near 52W High | BRS 63 Forming View all →
$2.0B
Market Cap
11.8
P/E
1.03
PEG
6.4%
ROCE
11.7%
ROE
1.10
D/E
14.0%
OPM
-9.9%
% from 52W High
55
α RS
🔍 HMN is showing an earnings-catalyst setup because an ECS of 72.9 last quarter and it's within 9.9% of its 52-week high. The main caution: turnaround_watch's Backtest win rate is only 45.1%. Net: Mixed signal stack, not a recommendation. ? ECS 52W High Backtest
Sources
ECS 72.9 · 9.9% from 52W high · Backtest win rate 45.1%
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🌏 Global Investor Returns
Currency-adjusted total returns for HMN including FX impact
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📈 Price History
Ratio Health
Excellent
Good
Average
Poor
By Category
📊 Sector Averages
About

Horace Mann Educators Corporation, together with its subsidiaries, operates as an insurance holding company in the United States. It operates through three segments: Property & Casualty, Life & Retirement, and Supplemental & Group Benefits segments. The Property & Casualty segment offers insurance products, including private passenger auto insurance, residential home insurance, and personal umbrella insurance; standard auto coverage including liability, collision, and comprehensive; property coverage for homeowners and renters. The Life & Retirement segment sells tax-qualified fixed, fixed indexed, and variable annuities; the Horace Mann Retirement Advantage open architecture platform and other defined contribution plans; traditional term, whole life insurance products, and indexed universal life (IUL) products. This segment also offers Life by Design, a portfolio of individual whole life and individual term insurance products that address the financial planning needs of educators; Life Select, a combination product that mixes a base of either traditional whole life, 20-pay life, or life paid-up at age 65 with a variety of term riders; single premium whole life products; and cash value term. The Supplemental & Group Benefits segment offers employer-sponsored products, including accident, critical illness, limited-benefit fixed indemnity insurance, term life, and short-term and long-term disability, as well as worksite direct products, such as supplemental heart, cancer, disability, and accident coverages. The company offers individual protection and savings solutions, including auto insurance, property insurance, liability insurance, 403(b) retirement plans, mutual funds, life insurance, student loan solutions, credit monitoring, and financial wellness workshops. It distributes its products and services through agents, brokers, benefit specialists, direct and digital channels. The company was founded in 1945 and is headquartered in Springfield, Illinois.

Key Ratios Snapshot
📈 Growth Pattern
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⭐ Superinvestors Holding HMN
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Manager Shares Value % of Fund Period
Steve Cohen Point72 Asset Management 38.4K $1.6M 0.00% Mar 2026
Jim Simons Renaissance Technologies LLC 28.4K $1.2M 0.00% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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3-Statement Financial Model
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📊 MIXED Record Q1 core EPS $1.28, 20% YoY growth; P&C combined ratio 83.3%.
Revenue & Profitability
Core earnings per share were $1.28, with total core earnings of $53 million, up 20% year-over-year. P&C core earnings increased 46% to $39 million. Life & Retirement core earnings rose 16% to $9 million. Supplemental & Group Benefits contributed $12.6 million. P&C net written premiums increased 5% to $194 million. Life sales grew 17% and individual supplemental sales increased 11%. The company returned $33 million to shareholders including $18 million in share repurchases.
Outlook
Management maintained 2026 Core EPS guidance of $4.20-$4.50, confident in achieving a 10% compound annual growth rate in core EPS and a sustainable 12%-13% shareholder ROE. They see tailwinds from educator demand for improved healthcare and protection benefits, with 13 states having enacted paid family leave mandates and more proposals under consideration. The competitive auto market was noted as a headwind, but the multi-line model provides insulation.
Growth Drivers
Key growth drivers include the enhanced cancer product in individual supplemental, which saw sales double year-over-year. Group benefits sales more than tripled, driven by the new Paid Family Medical Leave offering in Minnesota. Life sales increased 17% and property sales rose 11% countrywide. Auto sales grew at a high single-digit rate excluding California. Points of distribution increased 8% year-over-year. The Horace Mann Club platform has enrolled thousands of educators since its launch.
Balance Sheet & CapEx
Not discussed in this earnings call.
Margins
The P&C combined ratio improved 5.4 points year-over-year to 83.3%, with auto at 89.2 and property at 74.3 (supported by lower catastrophe costs). The group benefits benefit ratio was 51.9%. The corporate expense ratio is expected to decline by about 25 basis points in 2026 as scale builds. Life and retirement persistency remains strong near 96%, and individual supplemental persistency is above 90%. Management sees room for further margin improvement through disciplined underwriting.
Key Risks
Risks flagged include regulatory complexity in California's auto market, where the company has taken a conservative approach. Catastrophe losses and weather variability can impact results. Group sales are lumpy quarter-to-quarter. Limited partnership returns were slightly below expectations. Commercial mortgage loan fund and runoff pressures were noted, though management expects improvement. The competitive auto environment remains a headwind, but the multi-line strategy provides insulation.
Generated by AI · Q1 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-08-06
Record Q2 core earnings and revenue growth driven by diversified business and strong segment performance. Full-year guidance raised, with catastrophe loss assumptions lowered and continued investment in educator-focused solutions. Recent acquisitions expected to be accretive from 2027.
Q1 2026 Q1 2026 2026-05-07
Record first quarter results with core EPS up 20% year-over-year, strong growth in life, supplemental, and group benefits, and improved P&C profitability. Guidance and strategic targets remain unchanged, with continued disciplined capital management.
Q4 2025 Q4 2025 2026-02-04
Record 2025 results featured 39% core earnings growth, 7% revenue increase, and strong segment performance, aided by low catastrophe losses and expanded distribution. 2026 guidance targets 10% EPS growth, continued margin improvement, and robust capital management.
Q3 2025 Q3 2025 2025-11-05
Record third quarter results featured a 64% EPS increase, strong revenue growth, and all segments at or above target profitability. Full-year EPS guidance was raised, with disciplined capital management and strategic investments supporting long-term growth.
Q2 2025 Q2 2025 2025-08-07
Second quarter core EPS nearly tripled year-over-year, with strong growth across all segments and lower catastrophe losses. Full-year 2025 core EPS guidance was raised, and capital returns to shareholders increased, supported by robust investment income and strategic initiatives.
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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
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Information Sources:
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