CNO Financial Group (NYSE:CNO) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

CNO Financial Group (NYSE:CNO) had its target price raised by analysts at Royal Bank of Canada from $38.00 to $40.00 in a report released on Monday, Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s price target suggests a potential upside of 10.38% from the company’s previous close.

A number of other research firms have also recently weighed in on CNO. Piper Sandler upped their price objective on shares of CNO Financial Group from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Evercore ISI upped their target price on shares of CNO Financial Group from $27.00 to $29.00 and gave the company an “underperform” rating in a research note on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods upped their target price on shares of CNO Financial Group from $30.00 to $31.00 and gave the company a “market perform” rating in a research note on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, CNO Financial Group currently has an average rating of “Hold” and an average target price of $34.50.

CNO Financial Group Stock Up 0.9 %

CNO Financial Group stock traded up $0.32 during trading on Monday, reaching $36.24. 102,108 shares of the company’s stock were exchanged, compared to its average volume of 738,023. The company’s 50-day moving average is $34.55 and its two-hundred day moving average is $30.91. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.19 and a current ratio of 0.19. CNO Financial Group has a 52-week low of $24.00 and a 52-week high of $36.95. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of 14.61 and a beta of 1.01.

CNO Financial Group (NYSE:CNO) last announced its quarterly earnings results 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. CNO Financial Group had a net margin of 6.06% and a return on equity of 18.19%. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $945.44 million. During the same period in the prior year, the company earned $0.88 EPS. The firm’s revenue was up 19.2% on a year-over-year basis. On average, analysts predict that CNO Financial Group will post 3.43 earnings per share for the current year.

Insider Activity

In other news, insider Jeanne L. Linnenbringer sold 5,435 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $34.26, for a total value of $186,203.10. Following the completion of the transaction, the insider now directly owns 37,663 shares in the company, valued at $1,290,334.38. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Jeanne L. Linnenbringer sold 5,435 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $34.26, for a total transaction of $186,203.10. Following the completion of the sale, the insider now directly owns 37,663 shares in the company, valued at approximately $1,290,334.38. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jeanne L. Linnenbringer sold 5,364 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $34.88, for a total transaction of $187,096.32. Following the sale, the insider now owns 44,884 shares of the company’s stock, valued at $1,565,553.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On CNO Financial Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in CNO. CWM LLC grew 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 purchasing an additional 447 shares in the last quarter. Quarry LP grew its position in CNO Financial Group by 123.2% during the 2nd quarter. Quarry LP now owns 1,694 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 935 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in shares of CNO Financial Group during the 1st quarter valued at $52,000. Blue Trust Inc. boosted its stake in shares of CNO Financial Group by 25.4% during the 2nd quarter. Blue Trust Inc. now owns 2,384 shares of the financial services provider’s stock valued at $66,000 after buying an additional 483 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of CNO Financial Group by 141.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,985 shares of the financial services provider’s stock valued at $70,000 after buying an additional 1,164 shares during the period. 95.43% of the stock is currently owned by hedge funds and other institutional investors.

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.