CNO Financial Group (NYSE:CNO) Given New $38.00 Price Target at Royal Bank of Canada

CNO Financial Group (NYSE:CNO) had its price target increased by Royal Bank of Canada from $30.00 to $38.00 in a research report released on Wednesday, Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

A number of other research firms have also recently commented on CNO. Piper Sandler increased their target price on shares of CNO Financial Group from $29.00 to $31.00 and gave the company an overweight rating in a research report on Friday, June 28th. StockNews.com cut CNO Financial Group from a buy rating to a hold rating in a research report on Friday, April 12th. Finally, Keefe, Bruyette & Woods upped their target price on CNO Financial Group from $30.00 to $31.00 and gave the company a market perform rating in a research report on Monday, July 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $30.60.

CNO Financial Group Stock Down 4.0 %

Shares of NYSE CNO opened at $32.44 on Wednesday. The stock has a market capitalization of $3.51 billion, a PE ratio of 9.46 and a beta of 1.04. The company has a current ratio of 0.19, a quick ratio of 0.18 and a debt-to-equity ratio of 1.66. CNO Financial Group has a 12-month low of $22.27 and a 12-month high of $35.45. The stock’s fifty day simple moving average is $28.83 and its two-hundred day simple moving average is $27.67.

CNO Financial Group (NYSE:CNO) last issued its quarterly earnings data 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 company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $929.99 million. CNO Financial Group had a return on equity of 18.30% and a net margin of 9.96%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.54 earnings per share. As a group, analysts expect that CNO Financial Group will post 3.21 EPS for the current fiscal year.

Insider Activity

In related news, CMO Rocco F. Tarasi III sold 3,197 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $28.00, for a total value of $89,516.00. Following the completion of the transaction, the chief marketing officer now owns 84,880 shares in the company, valued at approximately $2,376,640. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Yvonne K. Franzese sold 15,021 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $28.25, for a total transaction of $424,343.25. Following the completion of the transaction, the insider now directly owns 31,611 shares in the company, valued at $893,010.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Rocco F. Tarasi III sold 3,197 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $28.00, for a total transaction of $89,516.00. Following the completion of the sale, the chief marketing officer now directly owns 84,880 shares in the company, valued at $2,376,640. The disclosure for this sale can be found here. Insiders have sold 34,421 shares of company stock valued at $975,861 over the last ninety days. 3.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CNO Financial Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. raised its position in CNO Financial Group by 3.6% during the fourth quarter. Principal Financial Group Inc. now owns 2,226,375 shares of the financial services provider’s stock valued at $62,116,000 after acquiring an additional 76,514 shares in the last quarter. Norges Bank acquired a new position in shares of CNO Financial Group in the 4th quarter valued at $26,295,000. Allspring Global Investments Holdings LLC lifted its stake in shares of CNO Financial Group by 97.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 622,348 shares of the financial services provider’s stock valued at $17,251,000 after purchasing an additional 306,751 shares during the period. Easterly Investment Partners LLC grew its position in CNO Financial Group by 8.4% during the second quarter. Easterly Investment Partners LLC now owns 587,171 shares of the financial services provider’s stock valued at $16,276,000 after buying an additional 45,428 shares during the period. Finally, Federated Hermes Inc. increased its holdings in CNO Financial Group by 1.7% in the fourth quarter. Federated Hermes Inc. now owns 461,621 shares of the financial services provider’s stock valued at $12,879,000 after buying an additional 7,864 shares in the last quarter. Institutional investors and hedge funds own 95.43% of the company’s stock.

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.