CNO Financial Group, Inc. (NYSE:CNO) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of CNO Financial Group, Inc. (NYSE:CNO) have earned an average rating of “Hold” from the five research firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $30.60.

A number of analysts recently weighed in on the stock. Royal Bank of Canada upped their price target on shares of CNO Financial Group from $30.00 to $38.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Piper Sandler upped their target price on CNO Financial Group from $29.00 to $31.00 and gave the stock an “overweight” rating in a research report on Friday, June 28th. Keefe, Bruyette & Woods raised their target price on CNO Financial Group from $30.00 to $31.00 and gave the company a “market perform” rating in a report on Monday, July 8th. StockNews.com cut CNO Financial Group from a “buy” rating to a “hold” rating in a report on Friday, April 12th. Finally, Evercore ISI lifted their price objective 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.

CNO Financial Group Stock Performance

NYSE CNO opened at $31.28 on Friday. The business’s 50-day simple moving average is $28.96 and its 200-day simple moving average is $27.73. The firm has a market capitalization of $3.39 billion, a P/E ratio of 9.12 and a beta of 1.04. CNO Financial Group has a 1-year low of $22.27 and a 1-year high of $35.45. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.19 and a quick ratio of 0.18.

CNO Financial Group (NYSE:CNO) last announced its quarterly 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. CNO Financial Group had a net margin of 9.96% and a return on equity of 18.30%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $929.99 million. During the same period in the previous year, the company posted $0.54 earnings per share. CNO Financial Group’s revenue was up 4.2% compared to the same quarter last year. Equities analysts predict that CNO Financial Group will post 3.21 EPS for the current year.

Insider Activity

In related 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 sale, the insider now owns 36,522 shares in the company, valued at $1,053,659.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Michael E. Mead sold 5,013 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $28.85, for a total value of $144,625.05. Following the completion of the sale, the insider now directly owns 36,522 shares of the company’s stock, valued at $1,053,659.70. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Yvonne K. Franzese sold 15,021 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $28.25, for a total value of $424,343.25. Following the sale, the insider now owns 31,611 shares in the company, valued at approximately $893,010.75. The disclosure for this sale can be found here. In the last three months, insiders sold 34,421 shares of company stock worth $975,861. 3.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CNO Financial Group

Several large investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of CNO Financial Group during the fourth quarter worth $26,295,000. Victory Capital Management Inc. raised its stake in CNO Financial Group by 455.1% during the second quarter. Victory Capital Management Inc. now owns 777,271 shares of the financial services provider’s stock worth $21,546,000 after acquiring an additional 637,254 shares during the period. Retirement Systems of Alabama bought a new position in CNO Financial Group in the fourth quarter worth about $10,568,000. Allspring Global Investments Holdings LLC lifted its holdings in CNO Financial Group by 97.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 622,348 shares of the financial services provider’s stock worth $17,251,000 after acquiring an additional 306,751 shares during the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new position in CNO Financial Group in the fourth quarter valued at approximately $4,071,000. 95.43% of the stock is currently owned by institutional investors.

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.