CNO Financial Group (NYSE:CNO) Given New $53.00 Price Target at Keefe, Bruyette & Woods

CNO Financial Group (NYSE:CNO) had its target price upped by stock analysts at Keefe, Bruyette & Woods from $50.00 to $53.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 2.20% from the stock’s current price.

Other analysts have also issued reports about the company. Evercore set a $48.00 price objective on CNO Financial Group and gave the company an “in-line” rating in a report on Monday, June 1st. Jefferies Financial Group downgraded CNO Financial Group from a “buy” rating to a “hold” rating and upped their target price for the stock from $53.00 to $55.00 in a research note on Friday. Weiss Ratings reissued a “buy (b)” rating on shares of CNO Financial Group in a research note on Monday, April 20th. Finally, Wall Street Zen lowered shares of CNO Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $51.50.

CNO Financial Group Price Performance

Shares of CNO Financial Group stock opened at $51.86 on Monday. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 1.61. CNO Financial Group has a twelve month low of $35.24 and a twelve month high of $53.55. The business has a 50-day moving average price of $48.96 and a 200 day moving average price of $44.56. The firm has a market cap of $4.84 billion, a PE ratio of 20.83 and a beta of 0.81.

Insider Buying and Selling

In other CNO Financial Group news, CMO Rocco F. Tarasi III sold 5,750 shares of CNO Financial Group stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $50.00, for a total transaction of $287,500.00. Following the sale, the chief marketing officer owned 79,191 shares of the company’s stock, valued at $3,959,550. The trade was a 6.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gary C. Bhojwani sold 86,048 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $51.48, for a total transaction of $4,429,751.04. Following the completion of the sale, the chief executive officer owned 174,264 shares of the company’s stock, valued at $8,971,110.72. This trade represents a 33.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 95,106 shares of company stock valued at $4,879,343 in the last three months. Insiders own 3.44% of the company’s stock.

Institutional Investors Weigh In On CNO Financial Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Richardson Financial Services Inc. acquired a new position in CNO Financial Group during the fourth quarter worth $37,000. EverSource Wealth Advisors LLC increased its stake in shares of CNO Financial Group by 123.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,176 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 649 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of CNO Financial Group by 75.4% during the 1st quarter. Bessemer Group Inc. now owns 1,133 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 487 shares during the period. Osaic Holdings Inc. boosted its position in shares of CNO Financial Group by 39.2% during the 2nd quarter. Osaic Holdings Inc. now owns 1,194 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 336 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of CNO Financial Group by 72.0% in the second quarter. Versant Capital Management Inc now owns 1,132 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 474 shares during the period. Institutional investors and hedge funds own 95.43% of the company’s stock.

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.