CNO Financial Group, Inc. (NYSE:CNO) Receives $37.00 Average Price Target from Brokerages

Shares of CNO Financial Group, Inc. (NYSE:CNO) have been given a consensus rating of “Hold” by the five analysts that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $37.00.

Several equities analysts recently issued reports on CNO shares. Piper Sandler raised their price target on CNO Financial Group from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Royal Bank of Canada raised their target price on shares of CNO Financial Group from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Finally, Jefferies Financial Group lifted their target price on shares of CNO Financial Group from $36.00 to $41.00 and gave the stock a “hold” rating in a research note on Tuesday, December 10th.

CNO Financial Group Price Performance

CNO stock opened at $37.10 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.19 and a current ratio of 0.19. CNO Financial Group has a 52 week low of $24.92 and a 52 week high of $40.91. The firm’s fifty day moving average is $38.16 and its 200 day moving average is $34.52. The firm has a market cap of $3.83 billion, a P/E ratio of 14.96 and a beta of 1.04.

CNO Financial Group (NYSE:CNO) last posted its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.29. CNO Financial Group had a net margin of 6.06% and a return on equity of 17.53%. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $945.44 million. During the same period in the prior year, the business posted $0.88 earnings per share. The company’s revenue was up 19.2% on a year-over-year basis. Research analysts predict that CNO Financial Group will post 3.73 earnings per share for the current year.

CNO Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 10th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend was Tuesday, December 10th. CNO Financial Group’s dividend payout ratio (DPR) is currently 25.81%.

Insider Transactions at CNO Financial Group

In other CNO Financial Group news, insider Jeremy David Williams sold 4,783 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $40.09, for a total transaction of $191,750.47. Following the transaction, the insider now owns 62,121 shares in the company, valued at approximately $2,490,430.89. This represents a 7.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Rocco F. Tarasi III sold 1,484 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $38.02, for a total value of $56,421.68. Following the completion of the transaction, the chief marketing officer now directly owns 79,896 shares of the company’s stock, valued at $3,037,645.92. This represents a 1.82 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,745 shares of company stock worth $572,467. 3.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CNO Financial Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CNO. Quarry LP lifted its position in CNO Financial Group by 123.2% during the second quarter. Quarry LP now owns 1,694 shares of the financial services provider’s stock valued at $47,000 after buying an additional 935 shares during the period. CWM LLC increased its stake in shares of CNO Financial Group by 53.0% in the 3rd quarter. CWM LLC now owns 1,750 shares of the financial services provider’s stock worth $61,000 after acquiring an additional 606 shares in the last quarter. GAMMA Investing LLC lifted its position in CNO Financial Group by 141.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,985 shares of the financial services provider’s stock valued at $70,000 after acquiring an additional 1,164 shares during the period. Point72 DIFC Ltd bought a new stake in CNO Financial Group during the second quarter worth about $89,000. Finally, KBC Group NV boosted its stake in CNO Financial Group by 26.7% during the third quarter. KBC Group NV now owns 3,349 shares of the financial services provider’s stock worth $118,000 after acquiring an additional 706 shares in the last quarter. 95.43% of the stock is owned by hedge funds and other institutional investors.

CNO Financial Group Company Profile

CNO Financial Group, Inc, through its subsidiaries, develops, markets, and administers health insurance, annuity, individual life insurance, insurance products, and financial services for senior and middle-income markets in the United States. It offers Medicare supplement, supplemental health, and long-term care insurance policies; life insurance; and annuities, as well as Medicare advantage plans to individuals through phone, online, mail, and face-to-face.