Piper Sandler Raises CNO Financial Group (NYSE:CNO) Price Target to $38.00

CNO Financial Group (NYSE:CNO) had its target price hoisted by Piper Sandler from $37.00 to $38.00 in a report published on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

CNO has been the topic of several other research reports. Royal Bank of Canada boosted their price target on CNO Financial Group from $30.00 to $38.00 and gave the company an outperform rating in a research note on Wednesday, July 31st. Evercore ISI increased their price target 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 boosted 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 investment 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. According to MarketBeat.com, CNO Financial Group has a consensus rating of Hold and an average target price of $34.00.

CNO Financial Group Stock Performance

CNO opened at $34.97 on Wednesday. The stock has a market cap of $3.79 billion, a PE ratio of 10.20 and a beta of 1.01. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 1.66. The stock’s 50 day simple moving average is $33.51 and its 200-day simple moving average is $29.71. CNO Financial Group has a 1 year low of $22.27 and a 1 year high of $35.63.

CNO Financial Group (NYSE:CNO) last posted its earnings results on Monday, July 29th. The financial services provider reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.33. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $929.99 million. CNO Financial Group had a net margin of 9.96% and a return on equity of 18.30%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.54 earnings per share. Sell-side analysts forecast that CNO Financial Group will post 3.43 EPS for the current year.

CNO Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 24th. Shareholders of record on Tuesday, September 10th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend was Tuesday, September 10th. CNO Financial Group’s payout ratio is presently 18.66%.

Insiders Place Their Bets

In other news, insider Jeanne L. Linnenbringer sold 5,435 shares of the business’s stock in a transaction 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 owns 37,663 shares of the company’s stock, valued at $1,290,334.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Jeanne L. Linnenbringer sold 5,435 shares of CNO Financial Group stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $34.26, for a total transaction of $186,203.10. Following the transaction, the insider now owns 37,663 shares in the company, valued at $1,290,334.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jeanne L. Linnenbringer sold 5,364 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $34.88, for a total value of $187,096.32. Following the completion of the transaction, the insider now owns 44,884 shares of the company’s stock, valued at $1,565,553.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On CNO Financial Group

Several institutional investors have recently added to or reduced their stakes in the stock. CWM LLC increased its holdings 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 boosted its position in shares of CNO Financial Group by 123.2% during the second quarter. Quarry LP now owns 1,694 shares of the financial services provider’s stock worth $47,000 after buying an additional 935 shares during the period. EntryPoint Capital LLC bought a new position in shares of CNO Financial Group during the first quarter worth about $52,000. Blue Trust Inc. raised its position in CNO Financial Group by 25.4% in 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 last quarter. Finally, Point72 DIFC Ltd bought a new stake in CNO Financial Group in the 2nd quarter valued at approximately $89,000. 95.43% of the stock is owned by 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.