Keefe, Bruyette & Woods Increases CNO Financial Group (NYSE:CNO) Price Target to $53.00

CNO Financial Group (NYSE:CNO) had its target price upped by Keefe, Bruyette & Woods from $50.00 to $53.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 2.20% from the stock’s previous close.

CNO has been the topic of several other reports. Wall Street Zen cut CNO Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Evercore set a $48.00 price objective on shares of CNO Financial Group and gave the company an “in-line” rating in a report on Monday, June 1st. Weiss Ratings restated a “buy (b)” rating on shares of CNO Financial Group in a research report on Monday, April 20th. Finally, Jefferies Financial Group cut CNO Financial Group from a “buy” rating to a “hold” rating and raised their target price for the stock from $53.00 to $55.00 in a report on Friday. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $51.50.

CNO Financial Group Stock Down 0.2%

Shares of CNO Financial Group stock opened at $51.86 on Monday. CNO Financial Group has a 1 year low of $35.24 and a 1 year high of $53.55. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.17 and a quick ratio of 0.17. The company has a 50-day moving average of $48.96 and a 200 day moving average of $44.56. The firm has a market cap of $4.84 billion, a price-to-earnings ratio of 20.83 and a beta of 0.81.

Insider Activity

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

Institutional Trading of CNO Financial Group

Large investors have recently bought and sold shares of the stock. Richardson Financial Services Inc. purchased a new position in CNO Financial Group during the 4th quarter worth approximately $37,000. Versant Capital Management Inc lifted its holdings in shares of CNO Financial Group by 72.0% in the 2nd quarter. Versant Capital Management Inc now owns 1,132 shares of the financial services provider’s stock valued at $58,000 after buying an additional 474 shares during the period. Bessemer Group Inc. boosted its position in CNO Financial Group by 75.4% in the 1st quarter. Bessemer Group Inc. now owns 1,133 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 487 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in 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 purchasing an additional 649 shares in the last quarter. Finally, Osaic Holdings Inc. grew its stake 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 worth $46,000 after purchasing an additional 336 shares during the period. Hedge funds and other institutional investors 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.