CNO Financial Group (NYSE:CNO) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

CNO Financial Group (NYSE:CNO) had its target price boosted by research analysts at Keefe, Bruyette & Woods from $53.00 to $57.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 1.21% from the company’s current price.

CNO has been the subject of several other reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of CNO Financial Group in a research note on Friday, July 17th. Evercore set a $48.00 price objective on CNO Financial Group and gave the stock an “in-line” rating in a report on Monday, June 1st. Finally, Jefferies Financial Group downgraded CNO Financial Group from a “buy” rating to a “hold” rating and lifted their price objective for the company from $53.00 to $55.00 in a research report on Friday, July 10th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $52.50.

CNO Financial Group Trading Up 2.2%

Shares of CNO Financial Group stock traded up $1.23 during mid-day trading on Monday, hitting $56.32. 211,669 shares of the stock were exchanged, compared to its average volume of 714,271. The stock has a market capitalization of $5.26 billion, a price-to-earnings ratio of 19.35 and a beta of 0.81. CNO Financial Group has a twelve month low of $35.53 and a twelve month high of $57.59. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 1.65. The company has a 50-day simple moving average of $50.98 and a 200 day simple moving average of $45.62.

CNO Financial Group (NYSE:CNO) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.29. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $999.45 million. CNO Financial Group had a net margin of 6.02% and a return on equity of 18.76%. The company’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.87 earnings per share. Research analysts forecast that CNO Financial Group will post 4.43 EPS for the current year.

Insiders Place Their Bets

In related news, CMO Rocco F. Tarasi III sold 5,750 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $50.00, for a total value of $287,500.00. Following the transaction, the chief marketing officer directly owned 79,191 shares of the company’s stock, valued at approximately $3,959,550. This trade represents a 6.77% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gary C. Bhojwani sold 86,048 shares of the firm’s 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 transaction, the chief executive officer owned 174,264 shares in the company, valued at approximately $8,971,110.72. This trade represents a 33.06% decrease in their ownership of the stock. 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. In the last quarter, insiders sold 95,106 shares of company stock worth $4,879,343. 3.44% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Richardson Financial Services Inc. acquired a new position in CNO Financial Group during the fourth quarter valued at approximately $37,000. EverSource Wealth Advisors LLC raised its stake in shares of 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 valued at $45,000 after acquiring an additional 649 shares during the period. Bessemer Group Inc. raised its stake in shares of 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 valued at $46,000 after acquiring an additional 487 shares during the period. Osaic Holdings Inc. lifted its holdings 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 valued at $46,000 after acquiring an additional 336 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of CNO Financial Group by 72.0% during the 2nd quarter. Versant Capital Management Inc now owns 1,132 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 474 shares in 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 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.