CNO Financial Group (NYSE:CNO) Stock Price Expected to Rise, Piper Sandler Analyst Says

CNO Financial Group (NYSE:CNO - Free Report) had its target price increased by Piper Sandler from $42.00 to $44.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the financial services provider's stock.

CNO has been the subject of a number of other research reports. Jefferies Financial Group upped their target price on shares of CNO Financial Group from $36.00 to $41.00 and gave the stock a "hold" rating in a research report on Tuesday, December 10th. Royal Bank of Canada increased their price objective on shares of CNO Financial Group from $38.00 to $40.00 and gave the company an "outperform" rating in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $37.00.

CNO Financial Group Price Performance

Shares of CNO traded down $1.76 during trading hours on Wednesday, reaching $35.76. 900,644 shares of the stock traded hands, compared to its average volume of 733,476. The company has a market cap of $3.69 billion, a P/E ratio of 14.42 and a beta of 1.02. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 1.50. The company's 50-day moving average price is $37.56 and its two-hundred day moving average price is $33.49. CNO Financial Group has a 52-week low of $24.92 and a 52-week high of $40.91.

CNO Financial Group (NYSE:CNO - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.11 EPS for the quarter, beating the consensus estimate of $0.82 by $0.29. CNO Financial Group had a return on equity of 17.53% and a net margin of 6.06%. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $945.44 million. During the same period in the previous year, the business earned $0.88 earnings per share. The business's revenue was up 19.2% on a year-over-year basis. On average, analysts anticipate that CNO Financial Group will post 3.73 earnings per share for the current year.

CNO Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 10th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.64 annualized dividend and a yield of 1.79%. CNO Financial Group's dividend payout ratio (DPR) is currently 25.81%.

Insider Transactions at CNO Financial Group

In related news, insider Jeremy David Williams sold 4,783 shares of the firm's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $40.09, for a total value of $191,750.47. Following the completion of the sale, the insider now directly owns 62,121 shares in the company, valued at $2,490,430.89. This trade represents a 7.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CIO Eric R. Johnson sold 3,978 shares of the business's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $39.09, for a total transaction of $155,500.02. Following the transaction, the executive now owns 631,844 shares in the company, valued at $24,698,781.96. This trade represents a 0.63 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.21% of the company's stock.

Hedge Funds Weigh In On CNO Financial Group

Hedge funds have recently added to or reduced their stakes in the company. CWM LLC raised its stake in shares of CNO Financial Group by 64.1% during the second quarter. CWM LLC now owns 1,144 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 447 shares in the last quarter. Quarry LP increased its holdings in CNO Financial Group by 123.2% during the 2nd 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 period. GAMMA Investing LLC lifted its holdings in shares of CNO Financial Group by 141.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,985 shares of the financial services provider's stock worth $70,000 after buying an additional 1,164 shares during the period. Blue Trust Inc. grew its position in shares of CNO Financial Group by 25.4% during the 2nd quarter. Blue Trust Inc. now owns 2,384 shares of the financial services provider's stock worth $66,000 after buying an additional 483 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new position in shares of CNO Financial Group during the second quarter valued at $89,000. 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.