Piper Sandler Forecasts Strong Price Appreciation for CNO Financial Group (NYSE:CNO) Stock

CNO Financial Group (NYSE:CNO) had its target price lifted by Piper Sandler from $46.00 to $49.00 in a research note released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other equities research analysts have also weighed in on the stock. 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 report on Tuesday, December 10th. Royal Bank of Canada upped their price target on CNO Financial Group from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, February 10th. Keefe, Bruyette & Woods raised their price objective on CNO Financial Group from $42.00 to $44.00 and gave the company a “market perform” rating in a research note on Wednesday, February 12th. Finally, BMO Capital Markets assumed coverage on shares of CNO Financial Group in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $38.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $41.00.

CNO Financial Group Stock Down 6.9 %

CNO Financial Group stock opened at $36.83 on Wednesday. The firm’s fifty day moving average is $40.61 and its 200 day moving average is $38.29. CNO Financial Group has a 12-month low of $24.92 and a 12-month high of $43.20. The company has a market capitalization of $3.69 billion, a PE ratio of 9.85 and a beta of 0.90. The company has a quick ratio of 0.19, a current ratio of 0.22 and a debt-to-equity ratio of 1.61.

CNO Financial Group (NYSE:CNO) last announced its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.25. CNO Financial Group had a return on equity of 17.20% and a net margin of 9.08%. As a group, sell-side analysts predict that CNO Financial Group will post 3.83 EPS for the current fiscal year.

CNO Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend was Monday, March 10th. CNO Financial Group’s payout ratio is currently 17.11%.

Insider Activity

In related news, insider Yvonne K. Franzese sold 2,013 shares of the company’s stock in a transaction on Friday, March 28th. The shares were sold at an average price of $42.18, for a total value of $84,908.34. Following the completion of the transaction, the insider now directly owns 26,994 shares in the company, valued at approximately $1,138,606.92. The trade was a 6.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeremy David Williams sold 11,300 shares of the firm’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $41.51, for a total value of $469,063.00. Following the sale, the insider now owns 65,299 shares in the company, valued at $2,710,561.49. The trade was a 14.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 159,512 shares of company stock worth $6,497,710 over the last ninety days. Company insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On CNO Financial Group

Large investors have recently modified their holdings of the company. Versant Capital Management Inc boosted its stake in shares of CNO Financial Group by 148.6% in the 1st quarter. Versant Capital Management Inc now owns 1,099 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 657 shares in the last quarter. 111 Capital bought a new position in shares of CNO Financial Group during the fourth quarter valued at about $425,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of CNO Financial Group by 16.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,957 shares of the financial services provider’s stock worth $482,000 after buying an additional 1,873 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of CNO Financial Group in the 4th quarter valued at about $15,093,000. Finally, Jefferies Financial Group Inc. purchased a new stake in CNO Financial Group during the 4th quarter valued at about $896,000. 95.43% of the stock is owned by hedge funds and other 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.