Horace Mann price target lowered to $37 from $39 at Piper Sandler

Piper Sandler analyst John Barnidge lowered the firm’s price target on Horace Mann to $37 from $39 and keeps a Neutral rating on the shares. The firm’s lower target reflects lower EPS estimates along with a lower multiple, reflecting declines in P-C retention and Supplemental & Group Benefits distribution in a backdrop of persistent inflation that it believes is “disproportionately impacting the educator.”