CNO Financial Group’s (CNO) Market Perform Rating Reaffirmed at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods restated their market perform rating on shares of CNO Financial Group (NYSE:CNO) in a research note published on Thursday,Benzinga reports. They currently have a $46.00 price target on the financial services provider’s stock.

CNO has been the subject of several other research reports. Wall Street Zen raised shares of CNO Financial Group from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Evercore reaffirmed an “underperform” rating and set a $43.00 price target on shares of CNO Financial Group in a research report on Wednesday, February 18th. Piper Sandler lifted their price target on CNO Financial Group from $46.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of CNO Financial Group in a report on Wednesday, January 21st. Finally, Jefferies Financial Group upgraded CNO Financial Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $42.00 to $47.00 in a research note on Monday, December 15th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $46.50.

CNO Financial Group Stock Up 0.7%

CNO stock opened at $40.90 on Thursday. CNO Financial Group has a twelve month low of $34.63 and a twelve 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. The company has a market capitalization of $3.86 billion, a P/E ratio of 18.34 and a beta of 0.83. The firm has a 50 day simple moving average of $41.69 and a 200-day simple moving average of $41.10.

CNO Financial Group (NYSE:CNO) last issued its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.27. The business had revenue of $101.10 million during the quarter, compared to analyst estimates of $1 billion. CNO Financial Group had a net margin of 4.94% and a return on equity of 15.80%. The business’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.18 earnings per share. On average, equities research analysts predict that CNO Financial Group will post 3.83 earnings per share for the current fiscal 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 given 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 (DPR) is currently 30.49%.

Insiders Place Their Bets

In related news, insider Yvonne K. Franzese sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $43.17, for a total value of $388,530.00. Following the sale, the insider directly owned 35,062 shares in the company, valued at $1,513,626.54. This trade represents a 20.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gary C. Bhojwani sold 43,021 shares of CNO Financial Group stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $43.05, for a total value of $1,852,054.05. Following the sale, the chief executive officer directly owned 277,526 shares in the company, valued at $11,947,494.30. The trade was a 13.42% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 228,208 shares of company stock worth $9,762,609. 3.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Optiver Holding B.V. lifted its holdings in CNO Financial Group by 90.1% in the third quarter. Optiver Holding B.V. now owns 637 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 302 shares during the period. Smartleaf Asset Management LLC increased its stake in CNO Financial Group by 353.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 743 shares of the financial services provider’s stock valued at $29,000 after buying an additional 579 shares during the period. First Horizon Corp acquired a new position in CNO Financial Group during the 3rd quarter valued at about $32,000. Richardson Financial Services Inc. bought a new stake in shares of CNO Financial Group during the 4th quarter worth about $37,000. Finally, EverSource Wealth Advisors LLC raised its position 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 worth $45,000 after buying an additional 649 shares in the last quarter. 95.43% of the stock is owned by institutional investors and hedge funds.

About CNO Financial Group

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.