CNO Financial Group, Inc. (NYSE:CNO) Receives $46.50 Consensus PT from Analysts

CNO Financial Group, Inc. (NYSE:CNO) has received an average rating of “Hold” from the five brokerages that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $46.50.

A number of equities research analysts have recently commented on the company. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $46.00 target price on shares of CNO Financial Group in a research note on Thursday. Weiss Ratings restated a “buy (b)” rating on shares of CNO Financial Group in a research report on Wednesday, January 21st. Piper Sandler lifted their price objective on shares of CNO Financial Group from $46.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 23rd. Wall Street Zen cut shares of CNO Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Evercore reissued an “underperform” rating and set a $43.00 target price on shares of CNO Financial Group in a research report on Wednesday, February 18th.

Insider Transactions at CNO Financial Group

In other news, insider Yvonne K. Franzese sold 9,000 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $43.17, for a total transaction of $388,530.00. Following the transaction, the insider owned 35,062 shares of the company’s stock, valued at $1,513,626.54. This represents a 20.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott L. Goldberg sold 11,060 shares of the company’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $39.97, for a total value of $442,068.20. Following the transaction, the insider directly owned 214,524 shares in the company, valued at $8,574,524.28. This represents a 4.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 228,208 shares of company stock valued at $9,762,609 in the last three months. 3.38% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CNO Financial Group

Large investors have recently added to or reduced their stakes in the company. Optiver Holding B.V. lifted its holdings in CNO Financial Group by 90.1% during the third quarter. Optiver Holding B.V. now owns 637 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 302 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of CNO Financial Group by 353.0% in the third quarter. Smartleaf Asset Management LLC now owns 743 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 579 shares during the period. First Horizon Corp bought a new stake in shares of CNO Financial Group in the third quarter valued at approximately $32,000. Richardson Financial Services Inc. purchased a new stake in shares of CNO Financial Group during the 4th quarter valued at approximately $37,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of CNO Financial Group by 123.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,176 shares of the financial services provider’s stock valued at $45,000 after buying an additional 649 shares in the last quarter. Hedge funds and other institutional investors own 95.43% of the company’s stock.

CNO Financial Group Stock Performance

Shares of CNO opened at $39.57 on Friday. The stock has a 50 day moving average of $41.65 and a 200 day moving average of $41.12. The company has a market capitalization of $3.71 billion, a price-to-earnings ratio of 17.75 and a beta of 0.83. CNO Financial Group has a 12 month low of $34.63 and a 12 month high of $44.85. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 1.43.

CNO Financial Group (NYSE:CNO) last posted its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.27. The business had revenue of $101.10 million for the quarter, compared to analysts’ expectations of $1 billion. CNO Financial Group had a return on equity of 15.80% and a net margin of 4.94%.The business’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.18 earnings per share. As a group, sell-side analysts forecast that CNO Financial Group will post 3.83 earnings per share for the current year.

CNO Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 24th. Investors of record on Tuesday, March 10th were paid a $0.17 dividend. The ex-dividend date was Tuesday, March 10th. This represents a $0.68 annualized dividend and a yield of 1.7%. CNO Financial Group’s dividend payout ratio is presently 30.49%.

CNO Financial Group Company Profile

CNO Financial Group is an Indiana‐based holding company that offers a range of insurance and retirement solutions through its operating subsidiaries. Its primary business activities include life insurance, annuities, and supplemental health insurance products designed to help individuals plan for retirement and manage health‐related expenses. The company serves middle‐income Americans, with particular emphasis on senior customers seeking guaranteed coverage and reliable income streams.

Originally founded as Conseco in 1979, the company underwent a financial restructuring and rebranded as CNO Financial Group in 2010.