CNO Financial Group, Inc. (NYSE:CNO) Receives $45.00 Consensus Target Price from Brokerages

CNO Financial Group, Inc. (NYSE:CNO) has been given an average recommendation of “Moderate Buy” by the six research firms that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $45.00.

CNO has been the subject of a number of research reports. Weiss Ratings restated a “buy (b)” rating on shares of CNO Financial Group in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods increased their price target on shares of CNO Financial Group from $44.00 to $45.00 and gave the company a “market perform” rating in a report on Thursday, October 9th. Wall Street Zen upgraded CNO Financial Group from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Piper Sandler upped their target price on CNO Financial Group from $46.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday, December 23rd. Finally, Jefferies Financial Group raised CNO Financial Group from a “hold” rating to a “buy” rating and lifted their price target for the stock from $42.00 to $47.00 in a report on Monday, December 15th.

Insiders Place Their Bets

In other CNO Financial Group news, CEO Gary C. Bhojwani sold 31,430 shares of the business’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $41.99, for a total value of $1,319,745.70. Following the completion of the sale, the chief executive officer owned 195,926 shares of the company’s stock, valued at $8,226,932.74. The trade was a 13.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CMO Rocco F. Tarasi III sold 9,283 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $42.60, for a total transaction of $395,455.80. Following the transaction, the chief marketing officer directly owned 73,932 shares in the company, valued at $3,149,503.20. This represents a 11.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 89,378 shares of company stock worth $3,722,146 in the last quarter. 3.00% of the stock is currently owned by corporate insiders.

Institutional Trading of CNO Financial Group

Institutional investors and hedge funds have recently modified their holdings of the business. Allianz Asset Management GmbH raised its stake in CNO Financial Group by 70.9% during the second quarter. Allianz Asset Management GmbH now owns 1,546,745 shares of the financial services provider’s stock worth $59,673,000 after acquiring an additional 641,950 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in CNO Financial Group by 72.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,333,698 shares of the financial services provider’s stock worth $51,641,000 after purchasing an additional 561,327 shares in the last quarter. Millennium Management LLC lifted its stake in CNO Financial Group by 190.3% in the 3rd quarter. Millennium Management LLC now owns 579,656 shares of the financial services provider’s stock valued at $22,925,000 after purchasing an additional 379,984 shares during the last quarter. Capitolis Liquid Global Markets LLC boosted its position in CNO Financial Group by 384.9% in the third quarter. Capitolis Liquid Global Markets LLC now owns 438,800 shares of the financial services provider’s stock valued at $17,355,000 after buying an additional 348,300 shares in the last quarter. Finally, Retirement Systems of Alabama bought a new stake in shares of CNO Financial Group during the third quarter worth $11,857,000. 95.43% of the stock is currently owned by institutional investors.

CNO Financial Group Price Performance

Shares of NYSE CNO opened at $41.55 on Friday. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.45. The business’s 50 day moving average price is $41.80 and its two-hundred day moving average price is $39.78. The company has a market cap of $3.96 billion, a PE ratio of 14.53 and a beta of 0.85. CNO Financial Group has a twelve month low of $34.63 and a twelve month high of $44.19.

CNO Financial Group (NYSE:CNO) last issued its earnings results on Monday, November 3rd. The financial services provider reported $1.29 EPS for the quarter, topping the consensus estimate of $0.95 by $0.34. CNO Financial Group had a return on equity of 15.81% and a net margin of 6.64%.The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $975.35 million. During the same period in the previous year, the company posted $1.11 EPS. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, analysts predict that CNO Financial Group will post 3.83 EPS for the current year.

CNO Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Wednesday, December 10th were paid a $0.17 dividend. The ex-dividend date was Wednesday, December 10th. This represents a $0.68 annualized dividend and a dividend yield of 1.6%. CNO Financial Group’s dividend payout ratio is 23.78%.

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.