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

Shares of CNO Financial Group, Inc. (NYSE:CNO) have received a consensus rating of “Hold” from the five research firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to 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.

A number of research firms have weighed in on CNO. Piper Sandler lifted their price objective on CNO Financial Group from $42.00 to $44.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Royal Bank of Canada boosted their price target on CNO Financial Group from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Finally, Jefferies Financial Group raised their price objective 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

Shares of NYSE CNO opened at $36.03 on Friday. CNO Financial Group has a 52 week low of $24.92 and a 52 week high of $40.91. The business’s 50 day moving average price is $38.21 and its 200 day moving average price is $34.54. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 1.50. The firm has a market cap of $3.72 billion, a P/E ratio of 14.53 and a beta of 1.04.

CNO Financial Group (NYSE:CNO) last released its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.29. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $945.44 million. CNO Financial Group had a net margin of 6.06% and a return on equity of 17.53%. The business’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.88 earnings per share. On average, sell-side analysts expect that CNO Financial Group will post 3.73 earnings per share for the current year.

CNO Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 10th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $0.64 dividend on an annualized basis and a yield of 1.78%. CNO Financial Group’s dividend payout ratio is currently 25.81%.

Insider Activity

In related news, insider Jeremy David Williams sold 4,783 shares of CNO Financial Group stock in a transaction on Monday, November 11th. The shares were sold at an average price of $40.09, for a total value of $191,750.47. Following the sale, the insider now owns 62,121 shares of the company’s stock, valued at approximately $2,490,430.89. This trade represents a 7.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Rocco F. Tarasi III sold 4,500 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $37.51, for a total transaction of $168,795.00. Following the completion of the sale, the chief marketing officer now directly owns 72,896 shares of the company’s stock, valued at approximately $2,734,328.96. The trade was a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,745 shares of company stock worth $572,467 over the last three months. 3.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CNO Financial Group

Institutional investors have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale boosted its stake in shares of CNO Financial Group by 680.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 34,584 shares of the financial services provider’s stock worth $949,000 after acquiring an additional 30,150 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of CNO Financial Group by 6.0% during the third quarter. Principal Financial Group Inc. now owns 1,899,599 shares of the financial services provider’s stock worth $66,676,000 after buying an additional 107,589 shares in the last quarter. Interval Partners LP acquired a new stake in shares of CNO Financial Group in the second quarter valued at about $2,360,000. BNP Paribas Financial Markets raised its holdings in CNO Financial Group by 69.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 39,946 shares of the financial services provider’s stock valued at $1,402,000 after acquiring an additional 16,420 shares during the last quarter. Finally, Barclays PLC lifted its stake in CNO Financial Group by 113.7% in the 3rd quarter. Barclays PLC now owns 219,141 shares of the financial services provider’s stock worth $7,691,000 after purchasing an additional 116,617 shares in the last quarter. 95.43% of the stock is currently owned by institutional investors and hedge funds.

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.