CNO Financial Group (NYSE:CNO) Stock Price Expected to Rise, Piper Sandler Analyst Says

CNO Financial Group (NYSE:CNO) had its price objective hoisted by research analysts at Piper Sandler from $42.00 to $44.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s target price would suggest a potential upside of 18.41% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Jefferies Financial Group raised 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 price target on CNO Financial Group from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. One investment 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $37.00.

CNO Financial Group Stock Performance

Shares of CNO stock traded down $0.36 during trading hours on Wednesday, hitting $37.16. The stock had a trading volume of 160,019 shares, compared to its average volume of 730,397. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.19 and a quick ratio of 0.19. The firm has a market capitalization of $3.84 billion, a PE ratio of 14.99 and a beta of 1.02. The stock’s 50 day moving average is $37.56 and its 200 day moving average is $33.49. CNO Financial Group has a twelve month low of $24.92 and a twelve month high of $40.91.

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

Insider Activity at CNO Financial Group

In related news, insider Jeremy David Williams sold 4,783 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 62,121 shares in the company, valued at approximately $2,490,430.89. This trade represents a 7.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CIO Eric R. Johnson sold 3,978 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $39.09, for a total transaction of $155,500.02. Following the sale, the executive now owns 631,844 shares of the company’s stock, valued at approximately $24,698,781.96. This represents a 0.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.21% of the company’s stock.

Institutional Trading of CNO Financial Group

A number of institutional investors have recently added to or reduced their stakes in CNO. CWM LLC lifted its position in CNO Financial Group by 64.1% during the 2nd quarter. CWM LLC now owns 1,144 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 447 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of CNO Financial Group by 25.4% in the second quarter. Blue Trust Inc. now owns 2,384 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 483 shares during the period. Nisa Investment Advisors LLC grew its holdings in CNO Financial Group by 35.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 34,714 shares of the financial services provider’s stock valued at $962,000 after purchasing an additional 9,100 shares in the last quarter. Fifth Third Bancorp increased its stake in CNO Financial Group by 183.5% during the 2nd quarter. Fifth Third Bancorp now owns 4,170 shares of the financial services provider’s stock worth $116,000 after buying an additional 2,699 shares during the period. Finally, Everhart Financial Group Inc. boosted its position in CNO Financial Group by 9.5% in the 2nd quarter. Everhart Financial Group Inc. now owns 15,481 shares of the financial services provider’s stock valued at $429,000 after buying an additional 1,337 shares during the last quarter. 95.43% of the stock is owned by hedge funds and other institutional investors.

About CNO Financial Group

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.