Horace Mann downgraded to Market Perform from Outperform at Keefe Bruyette

Keefe Bruyette downgraded Horace Mann (HMN) to Market Perform from Outperform with a price target of $44, up from $39. The firm cites valuation for the downgrade following the stock’s “strong post-election move.” Horace Mann’s current valuation reasonably reflects its margin improvement prospects, the analyst tells investors in a research note.