CNO Financial Group (NYSE:CNO) Earns Overweight Rating from Piper Sandler

CNO Financial Group (NYSE:CNO)‘s stock had its “overweight” rating reissued by research analysts at Piper Sandler in a research note issued to investors on Friday, Benzinga reports. They presently have a $37.00 target price on the financial services provider’s stock. Piper Sandler’s price target points to a potential upside of 11.71% from the stock’s current price.

A number of other equities analysts have also weighed in on the stock. Royal Bank of Canada upped their target price 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. Keefe, Bruyette & Woods increased their price objective on shares of CNO Financial Group from $30.00 to $31.00 and gave the company a “market perform” rating in a report on Monday, July 8th. Finally, Evercore ISI lifted their target price on CNO Financial Group from $27.00 to $29.00 and gave the stock an “underperform” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $31.80.

CNO Financial Group Price Performance

CNO Financial Group stock traded up $0.47 during mid-day trading on Friday, hitting $33.12. The stock had a trading volume of 101,223 shares, compared to its average volume of 746,441. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 1.66. The firm’s 50 day moving average is $31.89 and its 200 day moving average is $28.83. The firm has a market capitalization of $3.50 billion, a P/E ratio of 9.62 and a beta of 1.01. CNO Financial Group has a one year low of $22.27 and a one year high of $35.45.

CNO Financial Group (NYSE:CNO) last released its earnings results on Monday, July 29th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.33. CNO Financial Group had a return on equity of 18.30% and a net margin of 9.96%. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $929.99 million. During the same quarter last year, the business posted $0.54 earnings per share. The firm’s revenue was up 4.2% on a year-over-year basis. On average, sell-side analysts forecast that CNO Financial Group will post 3.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CNO Financial Group news, insider Jeanne L. Linnenbringer sold 5,435 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $34.26, for a total transaction of $186,203.10. Following the sale, the insider now directly owns 37,663 shares in the company, valued at $1,290,334.38. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Jeanne L. Linnenbringer sold 5,364 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $34.88, for a total transaction of $187,096.32. Following the transaction, the insider now directly owns 44,884 shares in the company, valued at approximately $1,565,553.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeanne L. Linnenbringer sold 5,435 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $34.26, for a total transaction of $186,203.10. Following the completion of the sale, the insider now directly owns 37,663 shares of the company’s stock, valued at approximately $1,290,334.38. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Point72 Asset Management L.P. purchased a new position in CNO Financial Group during the 2nd quarter valued at $186,000. Quarry LP lifted its position in shares of CNO Financial Group by 123.2% during the second quarter. Quarry LP now owns 1,694 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 935 shares during the last quarter. Creative Planning grew its holdings in shares of CNO Financial Group by 7.2% in the second quarter. Creative Planning now owns 11,007 shares of the financial services provider’s stock worth $305,000 after purchasing an additional 742 shares during the last quarter. Algert Global LLC increased its stake in CNO Financial Group by 62.8% in the 2nd quarter. Algert Global LLC now owns 95,742 shares of the financial services provider’s stock worth $2,654,000 after buying an additional 36,924 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new position in CNO Financial Group in the 2nd quarter worth about $208,000. Institutional investors 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.