CNO Financial Group (NYSE:CNO) Price Target Raised to $31.00

CNO Financial Group (NYSE:CNO) had its target price raised by Piper Sandler from $29.00 to $31.00 in a research note published on Friday morning, Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

Separately, StockNews.com lowered shares of CNO Financial Group from a buy rating to a hold rating in a research report on Friday, April 12th. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $28.00.

CNO Financial Group Price Performance

Shares of NYSE CNO opened at $27.72 on Friday. The business has a 50-day simple moving average of $27.64 and a two-hundred day simple moving average of $27.20. The company has a market cap of $3.00 billion, a PE ratio of 8.08 and a beta of 1.05. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.18 and a current ratio of 0.18. CNO Financial Group has a fifty-two week low of $22.27 and a fifty-two week high of $29.09.

CNO Financial Group (NYSE:CNO) last posted its quarterly earnings data on Monday, April 29th. The financial services provider reported $0.52 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.12). CNO Financial Group had a return on equity of 16.77% and a net margin of 9.07%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $935.76 million. During the same quarter in the previous year, the firm posted $0.51 earnings per share. The company’s quarterly revenue was up 15.0% on a year-over-year basis. As a group, equities analysts expect that CNO Financial Group will post 3.08 EPS for the current fiscal year.

CNO Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Monday, June 10th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.31%. The ex-dividend date was Monday, June 10th. This is a positive change from CNO Financial Group’s previous quarterly dividend of $0.15. CNO Financial Group’s dividend payout ratio is currently 18.66%.

Insider Activity

In other CNO Financial Group news, insider Michael E. Mead sold 5,013 shares of CNO Financial Group 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 transaction, the insider now owns 36,522 shares of the company’s stock, valued at $1,053,659.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Karen Detoro sold 2,666 shares of CNO Financial Group stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $27.12, for a total value of $72,301.92. Following the sale, the insider now owns 72,383 shares in the company, valued at $1,963,026.96. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michael E. Mead sold 5,013 shares of the company’s stock in a transaction dated 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 owns 36,522 shares of the company’s stock, valued at approximately $1,053,659.70. The disclosure for this sale can be found here. Insiders sold a total of 39,865 shares of company stock valued at $1,123,447 in the last three months. 3.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CNO Financial Group

A number of hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. raised its stake in CNO Financial Group by 3.6% in the 4th quarter. Principal Financial Group Inc. now owns 2,226,375 shares of the financial services provider’s stock valued at $62,116,000 after purchasing an additional 76,514 shares during the last quarter. AQR Capital Management LLC boosted its position in CNO Financial Group by 13.9% during the third quarter. AQR Capital Management LLC now owns 2,189,796 shares of the financial services provider’s stock worth $51,964,000 after acquiring an additional 266,945 shares during the last quarter. American Century Companies Inc. grew its stake in CNO Financial Group by 10.2% during the 3rd quarter. American Century Companies Inc. now owns 1,350,120 shares of the financial services provider’s stock valued at $32,038,000 after acquiring an additional 125,047 shares in the last quarter. Norges Bank purchased a new stake in CNO Financial Group during the 4th quarter valued at about $26,295,000. Finally, Invesco Ltd. lifted its stake in CNO Financial Group by 45.1% in the 3rd quarter. Invesco Ltd. now owns 722,688 shares of the financial services provider’s stock worth $17,149,000 after purchasing an additional 224,653 shares in the last quarter. Institutional investors and hedge funds 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.