Horace Mann Educators (HMN)
Market Price (7/26/2026): $52.03 | Market Cap: $2.1 BilSector: Financials | Industry: Multi-line Insurance
Horace Mann Educators (HMN)
Market Price (7/26/2026): $52.03Market Cap: $2.1 BilSector: FinancialsIndustry: Multi-line Insurance
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 10%, Dividend Yield is 2.7%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 6.2%, FCF Yield is 22% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 29%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 29% Low stock price volatilityVol 12M is 20% Megatrend and thematic driversMegatrends include Insurtech & Niche Financial Services. Themes include Digital Insurance for Educators, Public Sector Wealth Management Technology, and Personalized Educator Benefits & Risk Management. | Trading close to highsDist 52W High is -3.7%, Dist 3Y High is -3.7% | Key risksHMN key risks include [1] its heavy concentration on the K-12 education market, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 10%, Dividend Yield is 2.7%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 6.2%, FCF Yield is 22% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 29%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 29% |
| Low stock price volatilityVol 12M is 20% |
| Megatrend and thematic driversMegatrends include Insurtech & Niche Financial Services. Themes include Digital Insurance for Educators, Public Sector Wealth Management Technology, and Personalized Educator Benefits & Risk Management. |
| Trading close to highsDist 52W High is -3.7%, Dist 3Y High is -3.7% |
| Key risksHMN key risks include [1] its heavy concentration on the K-12 education market, Show more. |
Qualitative Assessment
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Horace Mann Educators (HMN) stock has gained about 25% since 3/31/2026 because of the following key factors:
1. Record First Quarter Fiscal 2026 Earnings Exceeded Expectations. Horace Mann Educators reported record first-quarter (ending March 31, 2026) core earnings of $53 million, or $1.28 per share, representing a 20% year-over-year increase. This significantly surpassed the consensus analyst estimate of $1.10 per share by 16.32%. Additionally, revenue for the quarter reached $429.3 million, exceeding projections by 34.37%. The strong earnings performance contributed to a positive market reaction, with the stock rising 3.51% in the immediate trading session.
2. Improved Profitability in Property & Casualty Segment and Strong Overall Return on Equity. The company demonstrated enhanced operational efficiency, particularly within its Property & Casualty (P&C) segment. The first-quarter P&C segment combined ratio improved by over 5 points year-over-year to 83.3%. This underlying performance, coupled with lower catastrophe costs, contributed to robust profitability. The core shareholder return on equity for the trailing twelve months reached 12.7%, aligning with the company's three-year strategic targets.
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Horace Mann Educators (HMN) stock has gained about 25% since 3/31/2026 because of the following key factors:
1. Record First Quarter Fiscal 2026 Earnings Exceeded Expectations. Horace Mann Educators reported record first-quarter (ending March 31, 2026) core earnings of $53 million, or $1.28 per share, representing a 20% year-over-year increase. This significantly surpassed the consensus analyst estimate of $1.10 per share by 16.32%. Additionally, revenue for the quarter reached $429.3 million, exceeding projections by 34.37%. The strong earnings performance contributed to a positive market reaction, with the stock rising 3.51% in the immediate trading session.
2. Improved Profitability in Property & Casualty Segment and Strong Overall Return on Equity. The company demonstrated enhanced operational efficiency, particularly within its Property & Casualty (P&C) segment. The first-quarter P&C segment combined ratio improved by over 5 points year-over-year to 83.3%. This underlying performance, coupled with lower catastrophe costs, contributed to robust profitability. The core shareholder return on equity for the trailing twelve months reached 12.7%, aligning with the company's three-year strategic targets.
3. Positive Analyst Sentiment and Upgraded Ratings. Investor confidence was bolstered by favorable analyst actions during the period. On June 15, 2026, Weiss Ratings upgraded Horace Mann Educators' stock from a "buy (b+)" to a "buy (a-)". The company generally holds a "Buy" consensus rating among analysts, with a median price target of $52.00 as of late June 2026, signaling continued upside potential.
4. Sustained Growth Across Diversified Business Segments and Consistent Shareholder Returns. Horace Mann Educators achieved healthy top-line growth, with premiums, contract charges, and fee revenue increasing 6% in Q1 2026. Notably, life sales rose 17%, individual supplemental sales advanced 11%, and group benefits sales more than tripled year-over-year to exceed $11 million. The company also continued its commitment to shareholder returns, distributing a quarterly dividend of $0.36 per share on June 30, 2026, marking its 18th consecutive year of dividend increases, and repurchasing $18 million in shares during Q1 2026.
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Stock Movement Drivers
Fundamental Drivers
The 23.0% change in HMN stock from 3/31/2026 to 7/25/2026 was primarily driven by a 20.7% change in the company's P/E Multiple.| (LTM values as of) | 3312026 | 7252026 | Change |
|---|---|---|---|
| Stock Price ($) | 42.37 | 52.10 | 23.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,628 | 1,644 | 1.0% |
| Net Income Margin (%) | 10.0% | 10.0% | 0.9% |
| P/E Multiple | 10.7 | 12.9 | 20.7% |
| Shares Outstanding (Mil) | 41 | 41 | 0.0% |
| Cumulative Contribution | 23.0% |
Market Drivers
3/31/2026 to 7/25/2026| Return | Correlation | |
|---|---|---|
| HMN | 23.0% | |
| Market (SPY) | 13.6% | -22.3% |
| Sector (XLF) | 14.1% | 37.4% |
Fundamental Drivers
The 14.6% change in HMN stock from 12/31/2025 to 7/25/2026 was primarily driven by a 13.1% change in the company's P/E Multiple.| (LTM values as of) | 12312025 | 7252026 | Change |
|---|---|---|---|
| Stock Price ($) | 45.45 | 52.10 | 14.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,602 | 1,644 | 2.6% |
| Net Income Margin (%) | 10.2% | 10.0% | -2.0% |
| P/E Multiple | 11.4 | 12.9 | 13.1% |
| Shares Outstanding (Mil) | 41 | 41 | 0.7% |
| Cumulative Contribution | 14.6% |
Market Drivers
12/31/2025 to 7/25/2026| Return | Correlation | |
|---|---|---|
| HMN | 14.6% | |
| Market (SPY) | 8.7% | -13.1% |
| Sector (XLF) | 3.3% | 30.4% |
Fundamental Drivers
The 25.1% change in HMN stock from 6/30/2025 to 7/25/2026 was primarily driven by a 37.7% change in the company's Net Income Margin (%).| (LTM values as of) | 6302025 | 7252026 | Change |
|---|---|---|---|
| Stock Price ($) | 41.66 | 52.10 | 25.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,570 | 1,644 | 4.7% |
| Net Income Margin (%) | 7.3% | 10.0% | 37.7% |
| P/E Multiple | 15.0 | 12.9 | -14.1% |
| Shares Outstanding (Mil) | 41 | 41 | 1.0% |
| Cumulative Contribution | 25.1% |
Market Drivers
6/30/2025 to 7/25/2026| Return | Correlation | |
|---|---|---|
| HMN | 25.1% | |
| Market (SPY) | 20.6% | 0.6% |
| Sector (XLF) | 8.8% | 35.6% |
Fundamental Drivers
The 95.5% change in HMN stock from 6/30/2023 to 7/25/2026 was primarily driven by a 2133.9% change in the company's Net Income Margin (%).| (LTM values as of) | 6302023 | 7252026 | Change |
|---|---|---|---|
| Stock Price ($) | 26.65 | 52.10 | 95.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,357 | 1,644 | 21.2% |
| Net Income Margin (%) | 0.4% | 10.0% | 2133.9% |
| P/E Multiple | 180.4 | 12.9 | -92.8% |
| Shares Outstanding (Mil) | 41 | 41 | 1.0% |
| Cumulative Contribution | 95.5% |
Market Drivers
6/30/2023 to 7/25/2026| Return | Correlation | |
|---|---|---|
| HMN | 95.5% | |
| Market (SPY) | 72.6% | 21.7% |
| Sector (XLF) | 74.5% | 46.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| HMN Return | -5% | -0% | -9% | 25% | 22% | 13% | 48% |
| Peers Return | 11% | 1% | 13% | 26% | 7% | 11% | 90% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 97% |
Monthly Win Rates [3] | |||||||
| HMN Win Rate | 33% | 42% | 42% | 50% | 50% | 43% | |
| Peers Win Rate | 56% | 48% | 58% | 50% | 58% | 69% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 43% | |
Max Drawdowns [4] | |||||||
| HMN Max Drawdown | -15% | -22% | -25% | -17% | -11% | -9% | |
| Peers Max Drawdown | -21% | -28% | -24% | -14% | -22% | -17% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: SLF, L, GNW, KMPR, PLGO.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/24/2026 (YTD)
How Low Can It Go
| Event | HMN | S&P 500 |
|---|---|---|
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -20.5% | -6.7% |
| % Gain to Breakeven | 25.9% | 7.1% |
| Time to Breakeven | 194 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -14.0% | -24.5% |
| % Gain to Breakeven | 16.3% | 32.4% |
| Time to Breakeven | 32 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -30.2% | -33.7% |
| % Gain to Breakeven | 43.2% | 50.9% |
| Time to Breakeven | 339 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -17.5% | -19.2% |
| % Gain to Breakeven | 21.1% | 23.8% |
| Time to Breakeven | 217 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -10.3% | -3.7% |
| % Gain to Breakeven | 11.5% | 3.9% |
| Time to Breakeven | 7 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -18.4% | -12.2% |
| % Gain to Breakeven | 22.6% | 13.9% |
| Time to Breakeven | 106 days | 62 days |
In The Past
Horace Mann Educators's stock fell -4.9% during the 2025 US Tariff Shock. Such a loss loss requires a 5.2% gain to breakeven.
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| Event | HMN | S&P 500 |
|---|---|---|
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -20.5% | -6.7% |
| % Gain to Breakeven | 25.9% | 7.1% |
| Time to Breakeven | 194 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -30.2% | -33.7% |
| % Gain to Breakeven | 43.2% | 50.9% |
| Time to Breakeven | 339 days | 140 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -27.4% | -17.9% |
| % Gain to Breakeven | 37.8% | 21.8% |
| Time to Breakeven | 99 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -72.8% | -53.4% |
| % Gain to Breakeven | 267.2% | 114.4% |
| Time to Breakeven | 711 days | 1085 days |
In The Past
Horace Mann Educators's stock fell -4.9% during the 2025 US Tariff Shock. Such a loss loss requires a 5.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Horace Mann Educators (HMN)
Horace Mann Educators Corporation (HMN) is an insurance holding company that specializes in providing financial solutions primarily to the education market. The company operates through three main segments: Property & Casualty, Life & Retirement, and Supplemental & Group Benefits, offering a comprehensive suite of products designed to meet the unique needs of its specific customer base.
HMN's product offerings include personal lines auto and property insurance under its Property & Casualty segment. The Life & Retirement segment provides fixed and variable annuities, as well as various life insurance products like whole life, term, and indexed universal life. Additionally, its Supplemental & Group Benefits segment offers coverages such as cancer, heart, hospital, supplemental disability, and accident insurance. The company also extends its services to include student loan solutions, providing online management accounts specifically for educators.
The primary customers for Horace Mann Educators are K-12 teachers, administrators, and other employees of public schools, along with their families. The company maintains a focused distribution strategy, marketing its products and services through a dedicated sales force of full-time exclusive agents who are deeply integrated within the education community.
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Here are a few analogies to describe Horace Mann Educators (HMN):
- USAA for K-12 public school employees. (USAA is known for exclusively serving military families with a range of financial products, similar to Horace Mann for educators.)
- A State Farm that only insures teachers and school staff. (State Farm is a well-known general insurer, and Horace Mann provides similar insurance products but focuses solely on the education community.)
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- Property & Casualty Insurance: Offers personal lines auto and property insurance products.
- Supplemental Insurance: Provides coverages for cancer, heart, hospital, supplemental disability, and accidents.
- Retirement Products: Includes tax-qualified fixed and variable annuities.
- Life Insurance: Offers whole life, term, and indexed universal life insurance products.
- Student Loan Solutions: Provides online student loan management accounts specifically for educators.
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Horace Mann Educators (HMN) primarily sells its insurance and financial products to individuals within the K-12 public education sector.
The company serves the following categories of customers:
- K-12 teachers
- K-12 public school administrators
- Other K-12 public school employees and their families
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- Munich Re (OTCQX: MURGY)
- Berkshire Hathaway Inc. (NYSE: BRK.A, NYSE: BRK.B)
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Marita Zuraitis, Director, President and Chief Executive Officer
Marita Zuraitis joined Horace Mann as President and CEO-elect in May 2013 and assumed her current role in September 2013. Prior to joining Horace Mann, she served as President of the property and casualty insurance companies of The Hanover Insurance Group from 2004 to 2013, overseeing personal and commercial lines with approximately $3 billion in annual premium. She was also a member of Hanover's Executive Leadership team. Before her time at The Hanover, Ms. Zuraitis held senior management positions at The St. Paul/Travelers Companies, where she was President and Chief Executive Officer of Commercial Lines for six years, as well as USF&G and Aetna Life and Casualty. Her career in the insurance industry spans over 30 years.
Ryan Greenier, Executive Vice President and Chief Financial Officer
Ryan Greenier was appointed Executive Vice President and Chief Financial Officer in September 2024. He previously served as Deputy CFO beginning in January 2023 and as Chief Investment Officer starting in 2021. Mr. Greenier joined Horace Mann in 2012 as Vice President, Investor Relations, and was later named Vice President, Corporate Finance in 2018 and Senior Vice President in 2019. Before joining Horace Mann, he worked at The Hartford from 2008 to 2012, holding positions in investments and investor relations. He began his career in public accounting at Deloitte & Touche and is a certified public accountant.
Donald M. Carley, Executive Vice President, General Counsel, Corporate Secretary and Chief Compliance Officer
Donald M. Carley joined Horace Mann in January 2016 as General Counsel. He brings over 30 years of private practice and corporate experience, with extensive expertise in representing the insurance and financial services industry. Before Horace Mann, he spent a decade in private practice at Sonnenschein Nath & Rosenthal LLP (now Dentons), where he was a partner.
Stephanie A. Fulks, Senior Vice President and Chief Information Officer
Stephanie A. Fulks serves as the Senior Vice President and Chief Information Officer for Horace Mann Educators Corporation.
Jennifer E. Thayer, Senior Vice President and Chief Human Resources Officer
Jennifer E. Thayer holds the position of Senior Vice President and Chief Human Resources Officer at Horace Mann Educators Corporation.
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- Concentration Risk in the K-12 Educator Market: Horace Mann Educators' business model is highly concentrated on serving K-12 educators and their families. This focus exposes the company to risks associated with the stability and demographics of the public education sector. Potential challenges such as educator burnout, staffing shortages, or changes in employment trends within K-12 public schools could directly impact Horace Mann's customer base and growth opportunities. For instance, reports indicate a significant percentage of educators are considering leaving their positions, which could reduce the company's potential customer pool.
- Catastrophe Loss Exposure: As an insurance provider, particularly within its Property & Casualty segment, Horace Mann Educators faces significant financial exposure to catastrophic events. Rising catastrophic losses are a key concern and a "key swing factor" for the company and the broader U.S. Property & Casualty insurance sector, which has been grappling with increasing underwriting losses. These losses can lead to substantial claims and impact profitability.
- Competitive Market Dynamics and Soft Demand: The insurance industry is highly competitive, with numerous companies vying for market share. Horace Mann Educators has experienced slower growth in net premiums earned compared to the broader insurance industry, suggesting potential soft demand for its products or intense competitive pressures. This competitive environment necessitates continuous innovation and differentiation to maintain market position and profitability.
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For Horace Mann Educators (HMN), the following are expected drivers of future revenue growth over the next 2-3 years:
- Price Increases and Underwriting Actions in Property & Casualty (P&C) Segment: Horace Mann has been implementing rate increases and non-rate underwriting actions in its P&C segment, which includes personal lines auto and property insurance. These actions are intended to improve profitability and are expected to drive higher average premiums and accelerate growth in total written premiums.
- Expansion and Deeper Penetration within the Educator Market: The company is focused on its strategy to achieve a larger share of the education market by expanding its products and solutions to more educators. This includes growing its customer base of K-12 teachers, administrators, and other public school employees, as well as cross-selling additional insurance and financial products to existing customers.
- Growth in Supplemental & Group Benefits Products: Horace Mann has reported strong sales momentum and significant increases in both individual supplemental sales and group benefits net written premiums. The company anticipates continued growth in its supplemental insurance products, which include cancer, heart, hospital, supplemental disability, and accident coverages.
- Growth in Life & Retirement Products, particularly Annuity Contract Deposits: The Life & Retirement segment, a stable source of earnings, is expected to contribute to revenue growth through increased net annuity contract deposits. Educators often begin their relationship with Horace Mann through 403(b) retirement savings products, which also provide opportunities for cross-selling other life insurance products.
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Capital Allocation Decisions for Horace Mann Educators (HMN)
Share Repurchases
- Horace Mann's Board of Directors authorized a new share repurchase program of up to $50 million in May 2025.
- The company repurchased 497,226 shares of its common stock at an average price of $41.85, totaling approximately $20.8 million, under the 2022 share repurchase program during the fiscal year ending December 31, 2025.
Share Issuance
- No significant public share issuances for capital raising were identified within the last 3-5 years. However, restricted stock units were granted to executives as part of compensation in March 2026.
Capital Expenditures
- Explicit dollar values for capital expenditures were not separately detailed in the available information. However, Horace Mann's operating expenses of $396.6 million for the fiscal year ending December 31, 2025, reflected investments in technology, marketing, and distribution.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 40.45 |
| Mkt Cap | 3.1 |
| Rev LTM | 5,880 |
| Op Inc LTM | - |
| FCF LTM | 474 |
| FCF 3Y Avg | 427 |
| CFO LTM | 493 |
| CFO 3Y Avg | 427 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 0.1% |
| Rev Chg 3Y Avg | 2.7% |
| Rev Chg Q | -4.6% |
| QoQ Delta Rev Chg LTM | -1.2% |
| Op Inc Chg LTM | - |
| Op Inc Chg 3Y Avg | - |
| Op Mgn LTM | - |
| Op Mgn 3Y Avg | - |
| QoQ Delta Op Mgn LTM | - |
| CFO/Rev LTM | 14.3% |
| CFO/Rev 3Y Avg | 12.3% |
| FCF/Rev LTM | 10.6% |
| FCF/Rev 3Y Avg | 11.9% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2007 | 2006 | 2005 |
|---|---|---|---|---|---|
| Property & Casualty | 863 | 785 | 573 | 573 | 583 |
| Life & Retirement | 553 | 538 | |||
| Supplemental & Group Benefits | 302 | 288 | |||
| Corporate & Other | 6 | 1 | 1 | 2 | 0 |
| Annuity | 151 | 140 | 131 | ||
| Life | 154 | 150 | 147 | ||
| Total | 1,725 | 1,612 | 879 | 864 | 861 |
| $ Mil | 2003 | 2002 | 2001 | 2000 | 1999 |
|---|---|---|---|---|---|
| Annuity | 14 | 17 | 21 | 19 | 27 |
| Life | 13 | 19 | 19 | 13 | 134 |
| Corporate & Other | 9 | -44 | -16 | ||
| Property & Casualty | -18 | 20 | 5 | 9 | 40 |
| Other | -11 | ||||
| Total | 19 | 11 | 44 | 25 | 191 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Property & Casualty | 112 | 49 | -36 | -44 | 57 |
| Life & Retirement | 57 | 56 | 72 | 49 | |
| Supplemental & Group Benefits | 45 | 60 | 55 | 58 | 46 |
| Corporate & Other | -52 | -63 | -46 | -66 | -29 |
| Life | 16 | ||||
| Retirement | 52 | ||||
| Total | 162 | 103 | 45 | -3 | 143 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Life & Retirement | 12,204 | 11,671 | 11,365 | 10,754 | 12,065 |
| Supplemental & Group Benefits | 1,402 | 1,378 | 1,339 | 1,359 | 859 |
| Property & Casualty | 1,372 | 1,272 | 1,218 | 1,084 | 1,243 |
| Corporate & Other | 309 | 191 | 190 | 173 | 282 |
| Intersegment eliminations | -20 | -24 | -62 | -65 | -65 |
| Total | 15,267 | 14,488 | 14,050 | 13,306 | 14,384 |
Price Behavior
| Market Price | $52.10 | |
| Market Cap ($ Bil) | 2.1 | |
| First Trading Date | 11/15/1991 | |
| Distance from 52W High | -3.7% | |
| 50 Days | 200 Days | |
| DMA Price | $49.16 | $45.06 |
| DMA Trend | up | up |
| Distance from DMA | 6.0% | 15.6% |
| 3M | 1YR | |
| Volatility | 20.6% | 20.5% |
| Downside Capture | -84.22 | -20.97 |
| Upside Capture | -3.26 | 16.30 |
| Correlation (SPY) | -33.2% | -0.3% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.60 | -0.51 | -0.36 | -0.18 | 0.03 | 0.33 |
| Up Beta | 0.07 | 0.10 | -0.08 | -0.17 | 0.05 | 0.32 |
| Down Beta | -1.09 | -1.18 | -1.29 | -0.53 | 0.00 | 0.35 |
| Up Capture | 15% | 12% | 21% | 8% | 12% | 16% |
| Bmk +ve Days | 11 | 24 | 40 | 67 | 140 | 429 |
| Stock +ve Days | 14 | 24 | 39 | 72 | 146 | 419 |
| Down Capture | -135% | -104% | -92% | -25% | -15% | 45% |
| Bmk -ve Days | 10 | 17 | 23 | 58 | 112 | 321 |
| Stock -ve Days | 7 | 17 | 24 | 53 | 105 | 326 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HMN | |
|---|---|---|---|---|
| HMN | 29.1% | 20.5% | 1.14 | - |
| Sector ETF (XLF) | 7.3% | 14.6% | 0.27 | 34.2% |
| Equity (SPY) | 17.6% | 12.7% | 1.00 | -0.5% |
| Gold (GLD) | 19.2% | 28.1% | 0.61 | -14.5% |
| Commodities (DBC) | 34.7% | 19.1% | 1.42 | -11.2% |
| Real Estate (VNQ) | 13.8% | 14.1% | 0.69 | 22.3% |
| Bitcoin (BTCUSD) | -46.2% | 42.9% | -1.32 | -5.4% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HMN | |
|---|---|---|---|---|
| HMN | 10.0% | 24.0% | 0.36 | - |
| Sector ETF (XLF) | 11.1% | 18.5% | 0.46 | 47.8% |
| Equity (SPY) | 12.8% | 17.1% | 0.58 | 28.3% |
| Gold (GLD) | 17.0% | 18.4% | 0.75 | -6.0% |
| Commodities (DBC) | 9.6% | 19.5% | 0.38 | 2.2% |
| Real Estate (VNQ) | 3.0% | 18.9% | 0.06 | 33.1% |
| Bitcoin (BTCUSD) | 15.3% | 53.4% | 0.47 | 8.8% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HMN | |
|---|---|---|---|---|
| HMN | 7.4% | 27.3% | 0.29 | - |
| Sector ETF (XLF) | 13.4% | 22.0% | 0.56 | 62.9% |
| Equity (SPY) | 14.9% | 17.9% | 0.71 | 47.6% |
| Gold (GLD) | 11.3% | 16.1% | 0.57 | -4.5% |
| Commodities (DBC) | 7.2% | 17.9% | 0.32 | 11.7% |
| Real Estate (VNQ) | 5.2% | 20.7% | 0.21 | 47.0% |
| Bitcoin (BTCUSD) | 58.1% | 66.2% | 0.98 | 9.5% |
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Returns Analyses
Earnings Returns History
Updated 7/21/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/6/2026 | -1.1% | -3.4% | 2.9% |
| 2/3/2026 | -3.8% | -4.4% | -3.2% |
| 11/4/2025 | 3.3% | 0.8% | -3.6% |
| 8/6/2025 | 2.5% | 5.5% | 9.3% |
| 5/6/2025 | 0.2% | -0.0% | 3.7% |
| 2/5/2025 | 5.1% | 4.4% | 7.5% |
| 11/4/2024 | 5.1% | 13.2% | 10.4% |
| 8/7/2024 | -1.5% | -1.4% | 3.0% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 12 | 11 |
| # Negative | 12 | 12 | 13 |
| Median Positive | 3.6% | 5.0% | 5.3% |
| Median Negative | -3.5% | -3.5% | -3.2% |
| Max Positive | 5.7% | 14.0% | 15.7% |
| Max Negative | -9.2% | -10.3% | -12.6% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/6/2026 | -1.1% | -3.4% | 2.9% |
| 2/3/2026 | -3.8% | -4.4% | -3.2% |
| 11/4/2025 | 3.3% | 0.8% | -3.6% |
| 8/6/2025 | 2.5% | 5.5% | 9.3% |
| 5/6/2025 | 0.2% | -0.0% | 3.7% |
| 2/5/2025 | 5.1% | 4.4% | 7.5% |
| 11/4/2024 | 5.1% | 13.2% | 10.4% |
| 8/7/2024 | -1.5% | -1.4% | 3.0% |
| 5/8/2024 | -9.2% | -10.3% | -12.6% |
| 2/7/2024 | 3.3% | 3.6% | -2.0% |
| 11/2/2023 | 3.2% | -0.3% | 5.3% |
| 8/1/2023 | -4.1% | -3.8% | -3.7% |
| 5/2/2023 | 4.9% | 7.5% | -1.5% |
| 2/7/2023 | -1.9% | 2.1% | -1.6% |
| 11/3/2022 | -2.4% | -3.7% | -5.7% |
| 8/5/2022 | 0.3% | 6.8% | -0.5% |
| 5/5/2022 | -5.8% | -5.3% | -4.9% |
| 2/1/2022 | 4.3% | 14.0% | 10.7% |
| 11/3/2021 | -4.0% | -1.0% | -8.2% |
| 8/2/2021 | -2.2% | 0.2% | 3.0% |
| 5/4/2021 | -3.3% | -4.3% | -2.7% |
| 2/2/2021 | -4.2% | -2.1% | 3.3% |
| 11/2/2020 | 5.7% | 10.8% | 15.7% |
| 8/6/2020 | 3.8% | 2.4% | -0.8% |
| SUMMARY STATS | |||
| # Positive | 12 | 12 | 11 |
| # Negative | 12 | 12 | 13 |
| Median Positive | 3.6% | 5.0% | 5.3% |
| Median Negative | -3.5% | -3.5% | -3.2% |
| Max Positive | 5.7% | 14.0% | 15.7% |
| Max Negative | -9.2% | -10.3% | -12.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 02/27/2026 | 10-K |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 02/28/2025 | 10-K |
| 09/30/2024 | 11/04/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 02/27/2024 | 10-K |
| 09/30/2023 | 11/07/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/10/2023 | 10-Q |
| 12/31/2022 | 02/28/2023 | 10-K |
| 09/30/2022 | 11/08/2022 | 10-Q |
| 06/30/2022 | 08/08/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 02/27/2026 | 10-K |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 02/28/2025 | 10-K |
| 09/30/2024 | 11/04/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 02/27/2024 | 10-K |
| 09/30/2023 | 11/07/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/10/2023 | 10-Q |
| 12/31/2022 | 02/28/2023 | 10-K |
| 09/30/2022 | 11/08/2022 | 10-Q |
| 06/30/2022 | 08/08/2022 | 10-Q |
| 03/31/2022 | 05/09/2022 | 10-Q |
| 12/31/2021 | 02/25/2022 | 10-K |
| 09/30/2021 | 11/05/2021 | 10-Q |
| 06/30/2021 | 08/06/2021 | 10-Q |
| 03/31/2021 | 05/07/2021 | 10-Q |
| 12/31/2020 | 02/26/2021 | 10-K |
| 09/30/2020 | 11/06/2020 | 10-Q |
| 06/30/2020 | 08/07/2020 | 10-Q |
| 03/31/2020 | 05/08/2020 | 10-Q |
| 12/31/2019 | 03/02/2020 | 10-K |
| 09/30/2019 | 11/08/2019 | 10-Q |
| 06/30/2019 | 08/08/2019 | 10-Q |
Insider Activity
Updated 7/2/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Zuraitis, Marita | President & CEO | Direct | Sell | 7022026 | 52.62 | 7,500 | 394,612 | 16,554,221 | Form |
| 2 | Zuraitis, Marita | President & CEO | Direct | Sell | 6042026 | 46.25 | 7,500 | 346,845 | 14,235,053 | Form |
| 3 | Zuraitis, Marita | President & CEO | Direct | Sell | 5212026 | 46.15 | 14 | 646 | 14,551,943 | Form |
| 4 | Zuraitis, Marita | President & CEO | Direct | Sell | 5072026 | 46.15 | 2 | 92 | 14,550,698 | Form |
| 5 | Zuraitis, Marita | President & CEO | Direct | Sell | 5072026 | 46.02 | 403 | 18,548 | 14,512,950 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Zuraitis, Marita | President & CEO | Direct | Sell | 7022026 | 52.62 | 7,500 | 394,612 | 16,554,221 | Form |
| 2 | Zuraitis, Marita | President & CEO | Direct | Sell | 6042026 | 46.25 | 7,500 | 346,845 | 14,235,053 | Form |
| 3 | Zuraitis, Marita | President & CEO | Direct | Sell | 5212026 | 46.15 | 14 | 646 | 14,551,943 | Form |
| 4 | Zuraitis, Marita | President & CEO | Direct | Sell | 5072026 | 46.15 | 2 | 92 | 14,550,698 | Form |
| 5 | Zuraitis, Marita | President & CEO | Direct | Sell | 5072026 | 46.02 | 403 | 18,548 | 14,512,950 | Form |
| 6 | Zuraitis, Marita | President & CEO | Direct | Sell | 5052026 | 46.16 | 266 | 12,278 | 14,573,175 | Form |
| 7 | Zuraitis, Marita | President & CEO | Direct | Sell | 5052026 | 46.16 | 6,815 | 314,601 | 14,587,349 | Form |
| 8 | Zuraitis, Marita | President & CEO | Direct | Sell | 4272026 | 46.16 | 7,500 | 346,215 | 14,901,627 | Form |
| 9 | McClure, Beverley J | Direct | Sell | 4032026 | 42.54 | 1,081 | 45,986 | 629,468 | Form | |
| 10 | Chauby, Steven R | Chief Marketing Officer | Direct | Buy | 3302026 | 42.40 | 180 | 7,632 | 196,864 | Form |
| 11 | Fetter, Victor | Direct | Buy | 2272026 | 42.73 | 3,500 | 149,540 | 952,420 | Form | |
| 12 | McClure, Beverley J | Direct | Sell | 1062026 | 45.18 | 1,081 | 48,837 | 711,929 | Form | |
| 13 | Zuraitis, Marita | President & CEO | Direct | Sell | 1062026 | 45.15 | 5,000 | 225,760 | 12,660,565 | Form |
| 14 | Zuraitis, Marita | President & CEO | Direct | Sell | 12032025 | 45.35 | 5,000 | 226,750 | 12,869,805 | Form |
| 15 | Reece, Henry Wade | Direct | Sell | 11262025 | 45.27 | 1,316 | 59,575 | 1,765,593 | Form | |
| 16 | Desrochers, Mark R | Senior Vice President | Direct | Sell | 11252025 | 47.00 | 3,000 | 141,000 | 966,132 | Form |
| 17 | McClure, Beverley J | Direct | Sell | 11172025 | 45.40 | 1,082 | 49,123 | 759,670 | Form | |
| 18 | Zuraitis, Marita | President & CEO | Direct | Sell | 11052025 | 44.17 | 5,000 | 220,865 | 12,756,651 | Form |
| 19 | Zuraitis, Marita | President & CEO | Direct | Sell | 10032025 | 44.81 | 5,000 | 224,050 | 13,164,659 | Form |
| 20 | Zuraitis, Marita | President & CEO | Direct | Sell | 9042025 | 45.76 | 5,000 | 228,800 | 13,597,800 | Form |
| 21 | Carley, Donald M | General Counsel | Direct | Sell | 8262025 | 45.94 | 3,500 | 160,790 | 1,014,886 | Form |
| 22 | Zuraitis, Marita | President & CEO | Direct | Sell | 8052025 | 42.28 | 5,000 | 211,400 | 12,775,102 | Form |
| 23 | Zuraitis, Marita | President & CEO | Direct | Sell | 7032025 | 42.87 | 5,000 | 214,350 | 13,167,723 | Form |
Industry Resources
| Financials Resources |
| Federal Reserve Economic Data |
| Federal Reserve |
| FDIC Data |
| American Banker |
| The Banker |
| Banking Technology |
| Multi-line Insurance Resources |
| Insurance Business America |
| A.M. Best |
| National Underwriter |
| Insurance News |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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