CNO Financial Group (NYSE:CNO) PT Raised to $38.00

CNO Financial Group (NYSE:CNO) had its price target raised by Royal Bank of Canada from $30.00 to $38.00 in a research note released on Wednesday, Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Several other equities analysts have also recently issued reports on the stock. Piper Sandler boosted their price target on shares of CNO Financial Group from $29.00 to $31.00 and gave the company an overweight rating in a research report on Friday, June 28th. StockNews.com lowered CNO Financial Group from a buy rating to a hold rating in a research report on Friday, April 12th. Finally, Keefe, Bruyette & Woods increased their price objective on CNO Financial Group from $30.00 to $31.00 and gave the stock a market perform rating in a report on Monday, July 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $30.60.

CNO Financial Group Price Performance

Shares of CNO stock opened at $32.44 on Wednesday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.18 and a current ratio of 0.19. CNO Financial Group has a fifty-two week low of $22.27 and a fifty-two week high of $35.45. The firm has a market cap of $3.51 billion, a P/E ratio of 9.46 and a beta of 1.04. The business’s 50 day moving average price is $28.83 and its 200-day moving average price is $27.67.

CNO Financial Group (NYSE:CNO) last released its quarterly earnings results on Monday, July 29th. The financial services provider reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.33. CNO Financial Group had a net margin of 9.96% and a return on equity of 18.30%. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $929.99 million. During the same quarter in the previous year, the business posted $0.54 earnings per share. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities research analysts anticipate that CNO Financial Group will post 3.21 earnings per share for the current year.

Insider Activity at CNO Financial Group

In other CNO Financial Group news, insider Yvonne K. Franzese sold 15,021 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $28.25, for a total value of $424,343.25. Following the sale, the insider now directly owns 31,611 shares of the company’s stock, valued at $893,010.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Yvonne K. Franzese sold 15,021 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $28.25, for a total value of $424,343.25. Following the transaction, the insider now owns 31,611 shares in the company, valued at $893,010.75. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael E. Mead sold 7,690 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $28.30, for a total transaction of $217,627.00. Following the sale, the insider now owns 41,535 shares in the company, valued at approximately $1,175,440.50. The disclosure for this sale can be found here. Insiders sold a total of 34,421 shares of company stock valued at $975,861 in the last 90 days. Corporate insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. nVerses Capital LLC increased its holdings in CNO Financial Group by 2,466.7% in the 2nd quarter. nVerses Capital LLC now owns 7,700 shares of the financial services provider’s stock worth $213,000 after buying an additional 7,400 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of CNO Financial Group by 6,446.1% in the second quarter. Farther Finance Advisors LLC now owns 9,230 shares of the financial services provider’s stock worth $256,000 after acquiring an additional 9,089 shares during the period. Hantz Financial Services Inc. bought a new stake in shares of CNO Financial Group in the second quarter worth approximately $2,489,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of CNO Financial Group during the second quarter valued at approximately $852,000. Finally, Allspring Global Investments Holdings LLC lifted its position in CNO Financial Group by 97.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 622,348 shares of the financial services provider’s stock valued at $17,251,000 after purchasing an additional 306,751 shares during the period. Hedge funds and other institutional investors own 95.43% of the company’s stock.

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.