CNO Financial Group, Inc. (NYSE:CNO) Receives $40.50 Consensus PT from Brokerages

CNO Financial Group, Inc. (NYSE:CNO) has been given an average rating of “Hold” by the six research firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $40.50.

Several equities analysts have recently issued reports on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $46.00 target price (up from $44.00) on shares of CNO Financial Group in a report on Monday, February 10th. Jefferies Financial Group upped their price objective on CNO Financial Group from $36.00 to $41.00 and gave the company a “hold” rating in a research note on Tuesday, December 10th. Royal Bank of Canada lifted their target price on CNO Financial Group from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, February 10th. Keefe, Bruyette & Woods increased their price target on shares of CNO Financial Group from $42.00 to $44.00 and gave the company a “market perform” rating in a research report on Wednesday, February 12th. Finally, BMO Capital Markets initiated coverage on shares of CNO Financial Group in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $38.00 price objective on the stock.

Insider Buying and Selling at CNO Financial Group

In other CNO Financial Group news, General Counsel Matthew J. Zimpfer sold 40,800 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $40.10, for a total value of $1,636,080.00. Following the completion of the sale, the general counsel now directly owns 204,143 shares in the company, valued at approximately $8,186,134.30. This trade represents a 16.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Scott L. Goldberg sold 25,500 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $40.02, for a total value of $1,020,510.00. Following the sale, the insider now directly owns 169,342 shares of the company’s stock, valued at $6,777,066.84. This represents a 13.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 132,600 shares of company stock valued at $5,372,187 in the last three months. Corporate insiders own 3.00% of the company’s stock.

Institutional Trading of CNO Financial Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE raised its position in CNO Financial Group by 236.9% during the 4th quarter. Bank of America Corp DE now owns 922,411 shares of the financial services provider’s stock valued at $34,323,000 after purchasing an additional 648,591 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of CNO Financial Group during the 4th quarter valued at about $15,093,000. Balyasny Asset Management L.P. purchased a new position in shares of CNO Financial Group during the fourth quarter valued at about $14,270,000. Norges Bank purchased a new stake in CNO Financial Group in the fourth quarter worth about $13,975,000. Finally, JPMorgan Chase & Co. boosted its position in CNO Financial Group by 41.3% during the 4th quarter. JPMorgan Chase & Co. now owns 1,274,370 shares of the financial services provider’s stock valued at $47,419,000 after acquiring an additional 372,701 shares in the last quarter. Hedge funds and other institutional investors own 95.43% of the company’s stock.

CNO Financial Group Stock Performance

NYSE:CNO opened at $42.23 on Thursday. The stock has a market cap of $4.24 billion, a P/E ratio of 11.29 and a beta of 1.02. The stock’s 50-day moving average is $40.15 and its 200-day moving average is $37.83. The company has a current ratio of 0.22, a quick ratio of 0.19 and a debt-to-equity ratio of 1.61. CNO Financial Group has a 1-year low of $24.92 and a 1-year high of $42.41.

CNO Financial Group (NYSE:CNO) last posted its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.25. CNO Financial Group had a return on equity of 17.20% and a net margin of 9.08%. Equities research analysts anticipate that CNO Financial Group will post 3.83 earnings per share for the current year.

CNO Financial Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date was Monday, March 10th. CNO Financial Group’s dividend payout ratio is presently 17.11%.

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.