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Horace Mann price target raised to $45 from $44 at Piper Sandler

Piper Sandler raised the firm’s price target on Horace Mann (HMN) to $45 from $44 and keeps a Neutral rating on the shares. The firm is reducing its EPS estimates in the space driven by continued fee and spread headwinds. This was confirmed by a rather challenging pre-announcement of variable investment income from MetLife (MET) in late June suggesting this swing factor for a large chunk of lifecoland got sequentially worse, which also – in Piper’s opinion – pushes out the normalization factor towards 2026.

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