Royal Bank of Canada Forecasts Strong Price Appreciation for CNO Financial Group (NYSE:CNO) Stock

CNO Financial Group (NYSE:CNO - Free Report) had its price objective increased by Royal Bank of Canada from $38.00 to $40.00 in a research note published on Monday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the financial services provider's stock.

Several other brokerages have also recently weighed in on CNO. Keefe, Bruyette & Woods upped their target price on CNO Financial Group from $30.00 to $31.00 and gave the stock a "market perform" rating in a report on Monday, July 8th. Evercore ISI increased their target price on shares of CNO Financial Group from $27.00 to $29.00 and gave the stock an "underperform" rating in a report on Wednesday, July 31st. Finally, Piper Sandler boosted their price target on shares of CNO Financial Group from $37.00 to $38.00 and gave the company an "overweight" rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, CNO Financial Group has an average rating of "Hold" and an average price target of $34.50.

CNO Financial Group Trading Down 0.5 %

Shares of NYSE CNO traded down $0.17 during midday trading on Monday, hitting $35.75. The company's stock had a trading volume of 790,435 shares, compared to its average volume of 741,255. 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 business's 50 day moving average is $34.55 and its two-hundred day moving average is $30.95. CNO Financial Group has a 12-month low of $24.00 and a 12-month high of $36.95. The firm has a market cap of $3.78 billion, a P/E ratio of 14.42 and a beta of 1.01.

CNO Financial Group (NYSE:CNO - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.11 EPS for the quarter, topping analysts' consensus estimates of $0.82 by $0.29. The firm had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $945.44 million. CNO Financial Group had a net margin of 6.06% and a return on equity of 18.19%. The business's revenue for the quarter was up 19.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.88 earnings per share. As a group, equities research analysts expect that CNO Financial Group will post 3.43 EPS for the current year.

CNO Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 24th. Stockholders of record on Tuesday, September 10th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend was Tuesday, September 10th. CNO Financial Group's payout ratio is currently 25.81%.

Insider Activity at CNO Financial Group

In other CNO Financial Group news, insider Jeanne L. Linnenbringer sold 5,435 shares of CNO Financial Group stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $34.26, for a total value of $186,203.10. Following the transaction, the insider now directly owns 37,663 shares of the company's stock, valued at approximately $1,290,334.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other CNO Financial Group news, insider Jeanne L. Linnenbringer sold 5,435 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $34.26, for a total value of $186,203.10. Following the completion of the sale, the insider now directly owns 37,663 shares in the company, valued at approximately $1,290,334.38. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jeanne L. Linnenbringer sold 5,364 shares of the business's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $34.88, for a total value of $187,096.32. Following the sale, the insider now owns 44,884 shares in the company, valued at $1,565,553.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. CWM LLC lifted its holdings 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 worth $32,000 after purchasing an additional 447 shares during the period. Quarry LP lifted its stake 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 valued at $47,000 after acquiring an additional 935 shares during the period. EntryPoint Capital LLC acquired a new stake in shares of CNO Financial Group in the first quarter worth $52,000. Blue Trust Inc. increased its stake in shares of CNO Financial Group by 25.4% in the second quarter. Blue Trust Inc. now owns 2,384 shares of the financial services provider's stock worth $66,000 after acquiring an additional 483 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of CNO Financial Group by 141.8% during the third quarter. GAMMA Investing LLC now owns 1,985 shares of the financial services provider's stock worth $70,000 after purchasing an additional 1,164 shares during the last quarter. Hedge funds and other institutional investors own 95.43% of the company's stock.

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.