Horace Mann Educators Corporation (HMN) Stock

Horace Mann Educators Corporation (HMN) is a Financials stock trading at $50.58 (as of 2026-08-21), with a market capitalization of $2.05B and a trailing P/E of 11.6. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Horace Mann Educators Corporation and its subsidiaries operate as an insurance holding company in the United States across Property & Casualty, Life & Retirement, and Supplemental & Group Benefits. It offers personal lines auto and property insurance, supplemental coverages, life and retirement products, and student loan solutions marketed through full-time exclusive agents to K-12 educators and public school employees.

Understand Horace Mann Educators Corporation: how it makes money

Horace Mann sells personal lines property and casualty insurance (including auto and property), supplemental insurance (such as cancer, heart, hospital, disability, and accident coverages), and retirement products (tax-qualified fixed and variable annuities). It makes money by underwriting and marketing insurance, and by receiving premium and contract deposits tied to its life and retirement products.

The company’s core profit engine is underwriting performance in property and casualty insurance, which shows up in the Property and Casualty Combined Ratio and is influenced by catastrophe losses.

Business quality (Mixed): The latest quarter shows a property and casualty combined ratio in the low 80s, with auto performing worse than the overall P&C result, and catastrophe losses that highlight potential volatility in underwriting outcomes.

Valuation: At 12× earnings, HMN trades in line with the Insurance average (13×). Note: one-time items can distort reported P/E.

Bull case

Underwriting results look solid at the total property and casualty level: Property and Casualty Combined Ratio (Reported) is 83.3% (and Underlying Combined Ratio is 84.3%), suggesting claims and expenses are coming in relatively controlled for the quarter.
Catastrophe impact is measurable rather than invisible: Catastrophe Losses (Pre-Tax) are 0.06 USD_B, and Catastrophe Losses are 0.02 USD_B, which helps frame how much large-event risk is affecting the quarter’s underwriting.

Bear case

Auto underwriting is weaker than the overall P&C result: Auto Combined Ratio (Reported) is 96.5%, higher than the overall Property and Casualty Combined Ratio, indicating pockets of profitability pressure within the auto book.
Catastrophe losses introduce earnings variability: The presence of catastrophe losses (0.06 USD_B pre-tax) shows that major event risk can move results quarter to quarter, which can make performance less predictable.

Valuation — source: SEC EDGAR (first-party)
Price	$50.58
Market Cap	$2.05B
P/E Ratio	11.6
EV / EBITDA	10.7
Price / Book	1.36
Price / Sales	1.17
DCF Value (model)	$69.60
DCF Upside vs Price	37.6%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$1.70B
Net Margin	9.5%
Revenue Growth (YoY)	7.7%
EPS Growth (YoY)	43.7%

Valuation vs Sector & Industry
Stock P/E	11.6
Sector P/E (Financials)	15.1
Industry P/E (Insurance)	13.0
vs Sector	-23.5%
vs Industry	-11.4%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock, Inc. ($251.65M)
Institutional Holders Tracked	10
Congressional Trades (recent)	6

Company
Sector	Financials
Industry	Insurance
CEO	Marita Zuraitis
Employees	1,750
Country	US
IPO Date	1991-11-15

Related Companies (Business model: Property & Casualty Insurer; 8 closest by market cap; US-domiciled)

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.