CNO Financial Group (NYSE:CNO) Price Target Increased to $29.00 by Analysts at Evercore ISI

CNO Financial Group (NYSE:CNO) had its price target upped by Evercore ISI from $27.00 to $29.00 in a report released on Wednesday, Benzinga reports. They currently have an underperform rating on the financial services provider’s stock.

Other equities research analysts have also issued reports about the company. Keefe, Bruyette & Woods upped their price target on CNO Financial Group from $30.00 to $31.00 and gave the company a market perform rating in a research report on Monday, July 8th. StockNews.com lowered CNO Financial Group from a buy rating to a hold rating in a research report on Friday, April 12th. Piper Sandler increased their price objective on CNO Financial Group from $29.00 to $31.00 and gave the stock an overweight rating in a research report on Friday, June 28th. Finally, Royal Bank of Canada increased their price objective on CNO Financial Group from $30.00 to $38.00 and gave the stock an outperform rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, CNO Financial Group has an average rating of Hold and an average price target of $30.60.

CNO Financial Group Price Performance

CNO stock opened at $32.44 on Wednesday. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.19 and a quick ratio of 0.18. The business has a 50 day simple moving average of $28.83 and a 200-day simple moving average of $27.67. The firm has a market capitalization of $3.51 billion, a PE ratio of 9.46 and a beta of 1.04. CNO Financial Group has a 1 year low of $22.27 and a 1 year high of $35.45.

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

Insiders Place Their Bets

In other CNO Financial Group news, insider Michael E. Mead sold 5,013 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $28.85, for a total transaction of $144,625.05. Following the transaction, the insider now directly owns 36,522 shares in the company, valued at $1,053,659.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CMO Rocco F. Tarasi III sold 3,500 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $28.50, for a total value of $99,750.00. Following the sale, the chief marketing officer now directly owns 81,380 shares in the company, valued at $2,319,330. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael E. Mead sold 5,013 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $28.85, for a total value of $144,625.05. Following the completion of the sale, the insider now owns 36,522 shares in the company, valued at $1,053,659.70. The disclosure for this sale can be found here. Insiders have sold 34,421 shares of company stock worth $975,861 over the last ninety days. Corporate insiders own 3.00% of the company’s stock.

Institutional Trading of CNO Financial Group

Several hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. raised its stake in shares of CNO Financial Group by 3.6% in the fourth quarter. Principal Financial Group Inc. now owns 2,226,375 shares of the financial services provider’s stock valued at $62,116,000 after acquiring an additional 76,514 shares in the last quarter. Norges Bank acquired a new stake in shares of CNO Financial Group in the fourth quarter valued at $26,295,000. Allspring Global Investments Holdings LLC raised its stake in shares of CNO Financial Group by 97.2% in 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 acquiring an additional 306,751 shares in the last quarter. Easterly Investment Partners LLC raised its stake in CNO Financial Group by 8.4% in the second quarter. Easterly Investment Partners LLC now owns 587,171 shares of the financial services provider’s stock valued at $16,276,000 after buying an additional 45,428 shares in the last quarter. Finally, Federated Hermes Inc. raised its stake in CNO Financial Group by 1.7% in the fourth quarter. Federated Hermes Inc. now owns 461,621 shares of the financial services provider’s stock valued at $12,879,000 after buying an additional 7,864 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.