Horace Mann Educators (HMN)


Market Price (9/21/2026): $48.37 | Market Cap: $2.0 BilSector: Financials | Industry: Multi-line Insurance

Horace Mann Educators (HMN)


Market Price (9/21/2026): $48.37
Market Cap: $2.0 Bil
Sector: Financials
Industry: Multi-line Insurance

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 12%, Dividend Yield is 2.9%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.7%, FCF Yield is 29%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 34%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 34%

Low stock price volatility
Vol 12M is 21%

Megatrend and thematic drivers
Megatrends include Insurtech & Niche Financial Services. Themes include Digital Insurance for Educators, Public Sector Wealth Management Technology, and Personalized Educator Benefits & Risk Management.

Key risks
HMN key risks include [1] its heavy concentration on the K-12 education market, Show more.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 12%, Dividend Yield is 2.9%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.7%, FCF Yield is 29%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 34%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 34%
2 Low stock price volatility
Vol 12M is 21%
3 Megatrend and thematic drivers
Megatrends include Insurtech & Niche Financial Services. Themes include Digital Insurance for Educators, Public Sector Wealth Management Technology, and Personalized Educator Benefits & Risk Management.
4 Key risks
HMN key risks include [1] its heavy concentration on the K-12 education market, Show more.

HMN in ETFs

Weight = HMN's share of each fund

VTI0.00%
ITOT0.00%
IWM0.07%
IJR0.11%
VIG0.01%
VYM0.01%
VB0.03%
AVUV0.16%
+15 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 9/1/2026

Horace Mann Educators (HMN) stock has gained about 5% since 5/31/2026 because of the following key factors:

1. Horace Mann Educators surpassed analysts' expectations with its fiscal Q2 2026 earnings, reporting an EPS of $1.17 against a consensus estimate of $0.79, representing a 48.7% beat. The company's revenue for the quarter also exceeded forecasts, rising 7.7% year-over-year to $443.5 million, compared to the $321.7 million consensus. This strong performance led management to increase its full-year fiscal 2026 core EPS guidance to a range of $4.60 to $4.90 per share.

2. The Property & Casualty segment demonstrated exceptional operational improvement, with core earnings increasing 56% year-over-year to $26 million. This was driven by a significant 7-point improvement in the combined ratio, reaching 89.6%, attributed to favorable weather conditions, lower catastrophe losses, positive prior year reserve development, and disciplined underwriting actions.

Show more
Updated on 9/1/2026

Horace Mann Educators (HMN) stock has gained about 5% since 5/31/2026 because of the following key factors:

1. Horace Mann Educators surpassed analysts' expectations with its fiscal Q2 2026 earnings, reporting an EPS of $1.17 against a consensus estimate of $0.79, representing a 48.7% beat. The company's revenue for the quarter also exceeded forecasts, rising 7.7% year-over-year to $443.5 million, compared to the $321.7 million consensus. This strong performance led management to increase its full-year fiscal 2026 core EPS guidance to a range of $4.60 to $4.90 per share.

2. The Property & Casualty segment demonstrated exceptional operational improvement, with core earnings increasing 56% year-over-year to $26 million. This was driven by a significant 7-point improvement in the combined ratio, reaching 89.6%, attributed to favorable weather conditions, lower catastrophe losses, positive prior year reserve development, and disciplined underwriting actions.

3. Analyst sentiment turned increasingly positive during the period, with several firms upgrading ratings and reaffirming "Strong Buy" recommendations. Weiss Ratings upgraded Horace Mann Educators from a "buy (b+)" to a "buy (a-)" rating on June 15, 2026, while Zacks Research moved the stock from "hold" to "strong-buy" on August 10, 2026. Raymond James Financial reiterated a "strong-buy" rating and set a price target of $59.00 on August 13, 2026.

4. The company experienced robust sales growth in its Individual Supplemental and Group Benefits segment, which grew by 44%, and its Life segment, which saw a 20% increase. This growth was supported by product enhancements and strategic investments in distribution channels.

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Stock Movement Drivers

Fundamental Drivers

The 7.4% change in HMN stock from 5/31/2026 to 9/20/2026 was primarily driven by a 5.2% change in the company's Net Income Margin (%).
(LTM values as of)53120269202026Change
Stock Price ($)45.0648.387.4%
Change Contribution By: 
Total Revenues ($ Mil)1,6441,6792.1%
Net Income Margin (%)10.0%10.6%5.2%
P/E Multiple11.211.20.0%
Shares Outstanding (Mil)41410.0%
Cumulative Contribution7.4%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2026 to 9/20/2026
ReturnCorrelation
HMN7.4% 
Market (SPY)0.9%-24.8%
Sector (XLF)8.3%34.7%

Fundamental Drivers

The 13.8% change in HMN stock from 2/28/2026 to 9/20/2026 was primarily driven by a 6.1% change in the company's Net Income Margin (%).
(LTM values as of)22820269202026Change
Stock Price ($)42.5148.3813.8%
Change Contribution By: 
Total Revenues ($ Mil)1,6281,6793.1%
Net Income Margin (%)10.0%10.6%6.1%
P/E Multiple10.711.24.0%
Shares Outstanding (Mil)41410.0%
Cumulative Contribution13.8%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 9/20/2026
ReturnCorrelation
HMN13.8% 
Market (SPY)11.6%-11.6%
Sector (XLF)9.2%35.1%

Fundamental Drivers

The 9.3% change in HMN stock from 8/31/2025 to 9/20/2026 was primarily driven by a 19.3% change in the company's Net Income Margin (%).
(LTM values as of)83120259202026Change
Stock Price ($)44.2548.389.3%
Change Contribution By: 
Total Revenues ($ Mil)1,5821,6796.1%
Net Income Margin (%)8.9%10.6%19.3%
P/E Multiple13.011.2-14.4%
Shares Outstanding (Mil)41411.0%
Cumulative Contribution9.3%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2025 to 9/20/2026
ReturnCorrelation
HMN9.3% 
Market (SPY)19.4%-4.9%
Sector (XLF)4.7%34.2%

Fundamental Drivers

The 89.3% change in HMN stock from 8/31/2023 to 9/20/2026 was primarily driven by a 52.4% change in the company's P/S Multiple.
(LTM values as of)83120239202026Change
Stock Price ($)25.5648.3889.3%
Change Contribution By: 
Total Revenues ($ Mil)1,3651,67923.0%
P/S Multiple0.81.252.4%
Shares Outstanding (Mil)41411.0%
Cumulative Contribution89.3%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2023 to 9/20/2026
ReturnCorrelation
HMN89.3% 
Market (SPY)75.6%20.9%
Sector (XLF)69.8%46.2%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
HMN Return-5%-0%-9%25%22%8%41%
Peers Return20%4%15%19%9%2%88%
S&P 500 Return27%-19%24%23%16%12%103%

Monthly Win Rates [3]
HMN Win Rate33%42%42%50%50%44% 
Peers Win Rate58%52%55%52%60%58% 
S&P 500 Win Rate75%42%67%75%67%44% 

Max Drawdowns [4]
HMN Max Drawdown-15%-22%-25%-17%-11%-10% 
Peers Max Drawdown-20%-28%-25%-12%-21%-18% 
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, AIG.
[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 9/18/2026 (YTD)

How Low Can It Go

EventHMNS&P 500
2023 SVB Regional Banking Crisis
  % Loss-20.5%-6.7%
  % Gain to Breakeven25.9%7.1%
  Time to Breakeven194 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-14.0%-24.5%
  % Gain to Breakeven16.3%32.4%
  Time to Breakeven32 days427 days
2020 COVID-19 Crash
  % Loss-30.2%-33.7%
  % Gain to Breakeven43.2%50.9%
  Time to Breakeven339 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-17.5%-19.2%
  % Gain to Breakeven21.1%23.8%
  Time to Breakeven217 days105 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-10.3%-3.7%
  % Gain to Breakeven11.5%3.9%
  Time to Breakeven7 days6 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-18.4%-12.2%
  % Gain to Breakeven22.6%13.9%
  Time to Breakeven106 days62 days

Compare to SLF, L, GNW, KMPR, AIG

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.

EventHMNS&P 500
2023 SVB Regional Banking Crisis
  % Loss-20.5%-6.7%
  % Gain to Breakeven25.9%7.1%
  Time to Breakeven194 days31 days
2020 COVID-19 Crash
  % Loss-30.2%-33.7%
  % Gain to Breakeven43.2%50.9%
  Time to Breakeven339 days140 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-27.4%-17.9%
  % Gain to Breakeven37.8%21.8%
  Time to Breakeven99 days123 days
2008-2009 Global Financial Crisis
  % Loss-72.8%-53.4%
  % Gain to Breakeven267.2%114.4%
  Time to Breakeven711 days1085 days

Compare to SLF, L, GNW, KMPR, AIG

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.

AI Analysis | Feedback

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.)

AI Analysis | Feedback

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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.
```

AI Analysis | Feedback

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.

AI Analysis | Feedback

Here are the key risks to Horace Mann Educators:
  1. 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.
  2. 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.
  3. 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.

AI Analysis | Feedback

The emergence of digital-first financial services platforms and online marketplaces specifically targeting K-12 educators, offering insurance, retirement, and student loan solutions with greater convenience and potentially lower costs than Horace Mann's exclusive agent-based distribution model.

AI Analysis | Feedback

Horace Mann Educators Corporation (HMN) operates in several insurance and financial services segments, primarily targeting K-12 educators and their families in the United States. While specific market sizes for the K-12 educator segment for each product are not precisely quantifiable from public data, the addressable markets for their main products within the broader U.S. context are substantial. The addressable markets for Horace Mann Educators' main products and services in the U.S. are as follows: * Property & Casualty Insurance: The U.S. Property & Casualty (P&C) insurance market was valued at approximately USD 1.10 trillion in 2025 and is estimated to reach USD 1.14 trillion in 2026. Personal lines, which include auto and property insurance, accounted for 50.05% of this market in 2025. More specifically, the U.S. personal auto insurance market size is estimated at USD 532.45 billion in 2026 and is projected to grow to USD 826.30 billion by 2031. * Supplemental & Group Benefits: The U.S. supplemental health market size is projected to reach US$ 43.1 billion in 2026. This market is expected to increase to USD 69.92 billion by 2035. * Retirement Products (Annuities): U.S. individual annuity sales reached a record of $461.3 billion in 2025. Projections indicate that total annuity sales will remain well above $300 billion through 2027. * Life Insurance: The U.S. life insurance market is expected to reach a projected revenue of approximately US$ 848.1 billion by 2027. * Student Loan Solutions: The total student loan debt in the United States amounts to $1.833 trillion. The broader student loans market size is estimated at USD 4.75 trillion in 2026.

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For Horace Mann Educators (HMN), the following are expected drivers of future revenue growth over the next 2-3 years:

  1. 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.
  2. 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.
  3. 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.
  4. 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.

Peer Outperformance in Multi-line Insurance

HMN has trailed 75% of its 8 Multi-line Insurance peers over 5Y. Among the peers that beat it are L, SLF and AIZ. Multi-line Insurance ranks 8th of 18 industries in Financials by median 5Y return.
Share of Multi-line Insurance constituents that HMN has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
50%
of 8 industry peers · 8.8% return
3Y
63%
of 8 industry peers · 81.9% return
5Y
25%
of 8 industry peers · 49.6% return
Multi-line Insurance peers with revenue growth within 4pp of HMN's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
Ticker Name Rev Growth 3Y Avg P/E 1Y3Y5Y 5Y Gap
HMN Horace Mann Educators 7.1% 11.2x 8.8%81.9%49.6%
L Loews 7.4% 13.1x 11.7%69.3%112.0% +62pp
SLF Sun Life Financial 9.8% 12.6x 40.5%85.5%104.2% +55pp
AIZ Assurant 8.4% 13.1x 36.6%106.6%93.2% +44pp
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Financials sector, ranked by 5Y. Multi-line Insurance is HMN's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Reinsurance 6 24.2%70.6%133.7% SPNT 170% · RGA 154% · RNR 140%
Investment Banking & Brokerage 13 -1.7%105.1%116.5% IBKR 527% · SNEX 257% · HOOD 183%
Diversified Banks 12 27.5%129.8%116.3% CM 161% · JPM 159% · RY 149%
Life & Health Insurance 20 8.6%57.6%105.8% JXN 534% · UNM 373% · FG 207%
Multi-Sector Holdings 4 6.8%50.2%87.3% JONE 361% · VOYA 88% · BRK-B 87%
Property & Casualty Insurance 42 9.6%67.5%67.8% ASIC 2760900% · HRTG 445% · UVE 331%
Regional Banks 265 23.9%91.7%67.1% ESQ 391% · GCBC 340% · VBNK 335%
Multi-line Insurance ← 9 8.8%71.2%64.1% GNW 201% · L 112% · SLF 104%
Financial Exchanges & Data 15 -0.1%17.4%32.7% VIRT 184% · CBOE 135% · CME 83%
Diversified Financial Services 4 -7.3%22.1%32.6% FRHC 168% · EQH 119% · TMS -54%
Consumer Finance 30 1.7%89.6%26.9% ENVA 447% · EZPW 319% · FCFS 168%
Insurance Brokers 16 -15.1%-6.3%20.3% LIFE 200% · ARX 87% · AJG 70%
Commercial & Residential Mortgage Finance 14 -50.2%32.8%13.9% FNMA 454% · FMCC 436% · ACT 204%
Asset Management & Custody Banks 84 -11.7%17.6%12.0% WT 348% · SII 279% · VCTR 274%
Specialized Finance 3 14.0%42.2%-2.8% EFC 27% · CACC -3% · HASI -16%
Mortgage REITs 33 -13.0%7.4%-16.5% NREF 53% · RITM 42% · DX 34%
Transaction & Payment Processing Services 15 -1.0%-5.9%-42.9% V 74% · MA 73% · CPAY 58%
Diversified Capital Markets 20 -36.3%20.7%-48.1% OPY 196% · LPLA 136% · GOLD 90%
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

HMNSLFLGNWKMPRAIGMedian
NameHorace M.Sun Life.Loews Genworth.Kemper American. 
Mkt Price48.3881.27107.7710.0526.4875.3361.86
Mkt Cap2.045.022.13.81.639.913.0
Rev LTM1,67940,59918,3997,1674,55326,66012,783
Op Inc LTM-------
FCF LTM5664,5411,7664303973,8501,166
FCF 3Y Avg4804,1752,3452932954,5301,412
CFO LTM5664,6722,5754304343,8501,571
CFO 3Y Avg4804,3083,0322933394,5301,756

Growth & Margins

HMNSLFLGNWKMPRAIGMedian
NameHorace M.Sun Life.Loews Genworth.Kemper American. 
Rev Chg LTM6.1%3.6%3.5%1.4%-4.5%-4.0%2.4%
Rev Chg 3Y Avg7.1%9.8%7.4%-0.9%-4.6%11.7%7.3%
Rev Chg Q8.9%51.4%3.6%5.8%-11.3%0.3%4.7%
QoQ Delta Rev Chg LTM2.1%13.2%0.9%1.4%-3.0%0.1%1.1%
Op Inc Chg LTM-------
Op Inc Chg 3Y Avg-------
Op Mgn LTM-------
Op Mgn 3Y Avg-------
QoQ Delta Op Mgn LTM-------
CFO/Rev LTM33.7%11.5%14.0%6.0%9.5%14.4%12.8%
CFO/Rev 3Y Avg29.9%11.5%17.3%4.1%7.3%16.7%14.1%
FCF/Rev LTM33.7%11.2%9.6%6.0%8.7%14.4%10.4%
FCF/Rev 3Y Avg29.9%11.2%13.4%4.1%6.3%16.7%12.3%

Valuation

HMNSLFLGNWKMPRAIGMedian
NameHorace M.Sun Life.Loews Genworth.Kemper American. 
Mkt Cap2.045.022.13.81.639.913.0
P/S1.21.11.20.50.31.51.1
P/Op Inc-------
P/EBIT7.88.88.17.6-3.29.97.9
P/E11.212.613.118.1-3.113.512.8
P/CFO3.59.68.68.93.610.48.8
Total Yield11.9%12.7%7.9%5.5%-26.9%9.9%8.9%
Dividend Yield2.9%4.7%0.2%0.0%4.9%2.5%2.7%
FCF Yield 3Y Avg26.9%11.7%12.3%9.1%12.2%9.9%11.9%
D/E0.30.20.40.40.60.20.3
Net D/E0.0-0.40.1-1.90.4-0.7-0.2

Returns

HMNSLFLGNWKMPRAIGMedian
NameHorace M.Sun Life.Loews Genworth.Kemper American. 
1M Rtn-3.7%3.8%-1.9%1.7%-2.0%-0.4%-1.1%
3M Rtn0.1%3.8%0.5%12.3%7.0%2.4%3.1%
6M Rtn18.3%33.3%2.2%25.8%-8.8%2.6%10.5%
12M Rtn8.8%40.5%11.7%11.3%-46.8%0.3%10.1%
3Y Rtn81.9%85.5%69.3%71.2%-35.2%31.3%70.3%
1M Excs Rtn-2.5%3.9%-2.3%2.1%1.0%0.9%1.0%
3M Excs Rtn-1.9%1.8%-1.5%10.3%5.1%0.4%1.1%
6M Excs Rtn2.1%16.5%-13.7%10.1%-23.8%-12.5%-5.2%
12M Excs Rtn-6.9%27.2%-4.3%1.2%-63.5%-15.4%-5.6%
3Y Excs Rtn17.0%15.4%-0.9%0.8%-113.8%-37.7%-0.0%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222007
Property & Casualty863785686643573
Life & Retirement553538539499 
Supplemental & Group Benefits302288288295 
Corporate & Other61301
Annuity    151
Life    154
Total1,7251,6121,5161,438879


Operating Income by Segment
$ Mil20032002200120001999
Annuity1417211927
Life13191913134
Corporate & Other9-44 -16 
Property & Casualty-18205940
Other    -11
Total19114425191


Net Income by Segment
$ Mil20252024202320222021
Property & Casualty11249-36-4457
Life & Retirement5756726489
Supplemental & Group Benefits4560556653
Corporate & Other-52-63-46-66-29
Total1621034520170


Assets by Segment
$ Mil20252024202320222021
Life & Retirement12,20411,67111,36510,75412,144
Supplemental & Group Benefits1,4021,3781,3391,359856
Property & Casualty1,3721,2721,2181,0841,243
Corporate & Other309191190173282
Intersegment eliminations-20-24-62-65-65
Total15,26714,48814,05013,30614,460


Price Behavior

Price Behavior
Market Price$48.38 
Market Cap ($ Bil)2.0 
First Trading Date11/15/1991 
Distance from 52W High-10.0% 
   50 Days200 Days
DMA Price$50.95$46.11
DMA Trendupup
Distance from DMA-5.0%4.9%
 3M1YR
Volatility22.4%20.8%
Downside Capture-54.55-19.87
Upside Capture-47.80-6.43
Correlation (SPY)-18.3%-6.4%
HMN Betas & Captures as of 8/31/2026

 1M2M3M6M1Y3Y
Beta-0.35-0.26-0.48-0.19-0.090.31
Up Beta0.400.060.12-0.04-0.030.32
Down Beta2.420.55-0.62-0.24-0.060.37
Up Capture-98%-60%-30%-1%-1%13%
Bmk +ve Days10213268138427
Stock +ve Days12213672141421
Down Capture-121%-56%-115%-63%-32%35%
Bmk -ve Days11213259113324
Stock -ve Days9212855109324

[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
HMN9.1%20.8%0.31-
Sector ETF (XLF)4.5%14.6%0.0832.5%
Equity (SPY)16.9%12.9%0.94-6.3%
Gold (GLD)19.1%29.3%0.60-17.3%
Commodities (DBC)46.3%20.6%1.73-11.4%
Real Estate (VNQ)4.9%13.6%0.1020.7%
Bitcoin (BTCUSD)-30.6%44.3%-0.70-9.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with HMN
HMN7.8%24.1%0.28-
Sector ETF (XLF)10.1%18.4%0.4147.3%
Equity (SPY)12.9%17.2%0.5727.4%
Gold (GLD)19.1%18.8%0.83-7.1%
Commodities (DBC)11.2%19.5%0.451.3%
Real Estate (VNQ)1.1%18.8%-0.0532.3%
Bitcoin (BTCUSD)12.5%52.5%0.427.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with HMN
HMN6.4%27.4%0.26-
Sector ETF (XLF)12.9%22.1%0.5362.7%
Equity (SPY)15.1%18.0%0.7247.3%
Gold (GLD)12.1%16.4%0.61-4.7%
Commodities (DBC)8.3%18.1%0.3711.4%
Real Estate (VNQ)4.4%20.7%0.1846.7%
Bitcoin (BTCUSD)62.6%66.2%1.029.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date8312026
Short Interest: Shares Quantity1.0 Mil
Short Interest: % Change Since 8152026-2.5%
Average Daily Volume0.2 Mil
Days-to-Cover Short Interest4.8 days
Basic Shares Quantity40.9 Mil
Short % of Basic Shares2.5%

Earnings Returns History

Updated 9/8/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/5/20263.9%-1.1%-0.3%
5/6/2026-1.1%-3.4%2.9%
2/3/2026-3.8%-4.4%-3.2%
11/4/20253.3%0.8%-3.6%
8/6/20252.5%5.5%9.3%
5/6/20250.2%-0.0%3.7%
2/5/20255.1%4.4%7.5%
11/4/20245.1%13.2%10.4%
...
SUMMARY STATS   
# Positive121111
# Negative121313
Median Positive3.6%5.5%5.3%
Median Negative-3.5%-3.4%-3.2%
Max Positive5.7%14.0%15.7%
Max Negative-9.2%-10.3%-12.6%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/5/20263.9%-1.1%-0.3%
5/6/2026-1.1%-3.4%2.9%
2/3/2026-3.8%-4.4%-3.2%
11/4/20253.3%0.8%-3.6%
8/6/20252.5%5.5%9.3%
5/6/20250.2%-0.0%3.7%
2/5/20255.1%4.4%7.5%
11/4/20245.1%13.2%10.4%
8/7/2024-1.5%-1.4%3.0%
5/8/2024-9.2%-10.3%-12.6%
2/7/20243.3%3.6%-2.0%
11/2/20233.2%-0.3%5.3%
8/1/2023-4.1%-3.8%-3.7%
5/2/20234.9%7.5%-1.5%
2/7/2023-1.9%2.1%-1.6%
11/3/2022-2.4%-3.7%-5.7%
8/5/20220.3%6.8%-0.5%
5/5/2022-5.8%-5.3%-4.9%
2/1/20224.3%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%
11/2/20205.7%10.8%15.7%
SUMMARY STATS   
# Positive121111
# Negative121313
Median Positive3.6%5.5%5.3%
Median Negative-3.5%-3.4%-3.2%
Max Positive5.7%14.0%15.7%
Max Negative-9.2%-10.3%-12.6%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/07/202610-Q
03/31/202605/08/202610-Q
12/31/202502/27/202610-K
09/30/202511/07/202510-Q
06/30/202508/06/202510-Q
03/31/202505/06/202510-Q
12/31/202402/28/202510-K
09/30/202411/04/202410-Q
06/30/202408/07/202410-Q
03/31/202405/08/202410-Q
12/31/202302/27/202410-K
09/30/202311/07/202310-Q
06/30/202308/08/202310-Q
03/31/202305/10/202310-Q
12/31/202202/28/202310-K
09/30/202211/08/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/07/202610-Q
03/31/202605/08/202610-Q
12/31/202502/27/202610-K
09/30/202511/07/202510-Q
06/30/202508/06/202510-Q
03/31/202505/06/202510-Q
12/31/202402/28/202510-K
09/30/202411/04/202410-Q
06/30/202408/07/202410-Q
03/31/202405/08/202410-Q
12/31/202302/27/202410-K
09/30/202311/07/202310-Q
06/30/202308/08/202310-Q
03/31/202305/10/202310-Q
12/31/202202/28/202310-K
09/30/202211/08/202210-Q
06/30/202208/08/202210-Q
03/31/202205/09/202210-Q
12/31/202102/25/202210-K
09/30/202111/05/202110-Q
06/30/202108/06/202110-Q
03/31/202105/07/202110-Q
12/31/202002/26/202110-K
09/30/202011/06/202010-Q
06/30/202008/07/202010-Q
03/31/202005/08/202010-Q
12/31/201903/02/202010-K
09/30/201911/08/201910-Q

Insider Activity

Updated 9/8/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Carley, Donald MGeneral CounselDirectSell908202652.282,054107,3851,503,610Form
2Hines, Perry GDirectSell908202652.223,237169,0361,311,636Form
3Zuraitis, MaritaPresident & CEODirectSell903202650.997,500382,42515,278,098Form
4Reece, Henry WadeDirectSell814202651.521,35970,0182,153,361Form
5Bradley, Thomas ADirectSell814202651.725,000258,6231,128,217Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Carley, Donald MGeneral CounselDirectSell908202652.282,054107,3851,503,610Form
2Hines, Perry GDirectSell908202652.223,237169,0361,311,636Form
3Zuraitis, MaritaPresident & CEODirectSell903202650.997,500382,42515,278,098Form
4Reece, Henry WadeDirectSell814202651.521,35970,0182,153,361Form
5Bradley, Thomas ADirectSell814202651.725,000258,6231,128,217Form
6Zuraitis, MaritaPresident & CEODirectSell805202652.037,500390,24815,980,859Form
7Zuraitis, MaritaPresident & CEODirectSell702202652.627,500394,61216,554,221Form
8Zuraitis, MaritaPresident & CEODirectSell604202646.257,500346,84514,235,053Form
9Zuraitis, MaritaPresident & CEODirectSell521202646.151464614,551,943Form
10Zuraitis, MaritaPresident & CEODirectSell507202646.1529214,550,698Form
11Zuraitis, MaritaPresident & CEODirectSell507202646.0240318,54814,512,950Form
12Zuraitis, MaritaPresident & CEODirectSell505202646.1626612,27814,573,175Form
13Zuraitis, MaritaPresident & CEODirectSell505202646.166,815314,60114,587,349Form
14Zuraitis, MaritaPresident & CEODirectSell427202646.167,500346,21514,901,627Form
15McClure, Beverley JDirectSell403202642.541,08145,986629,468Form
16Chauby, Steven RChief Marketing OfficerDirectBuy330202642.401807,632196,864Form
17Fetter, VictorDirectBuy227202642.733,500149,540952,420Form
18McClure, Beverley JDirectSell106202645.181,08148,837711,929Form
19Zuraitis, MaritaPresident & CEODirectSell106202645.155,000225,76012,660,565Form
20Zuraitis, MaritaPresident & CEODirectSell1203202545.355,000226,75012,869,805Form
21Reece, Henry WadeDirectSell1126202545.271,31659,5751,765,593Form
22Desrochers, Mark RSenior Vice PresidentDirectSell1125202547.003,000141,000966,132Form
23McClure, Beverley JDirectSell1117202545.401,08249,123759,670Form
24Zuraitis, MaritaPresident & CEODirectSell1105202544.175,000220,86512,756,651Form
25Zuraitis, MaritaPresident & CEODirectSell1003202544.815,000224,05013,164,659Form
26Zuraitis, MaritaPresident & CEODirectSell904202545.765,000228,80013,597,800Form
Core Cache Last Updated: 9/20/2026