CNO Financial Group, Inc. (NYSE:CNO) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of CNO Financial Group, Inc. (NYSE:CNO) have been assigned an average recommendation of “Moderate Buy” from the five analysts that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $46.75.

A number of equities research analysts have weighed in on the company. Keefe, Bruyette & Woods raised their price objective on CNO Financial Group from $44.00 to $45.00 and gave the company a “market perform” rating in a research note on Thursday, October 9th. Piper Sandler increased their target price on CNO Financial Group from $46.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, December 23rd. Wall Street Zen upgraded shares of CNO Financial Group from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of CNO Financial Group in a research note on Wednesday, January 21st. Finally, Jefferies Financial Group raised shares of CNO Financial Group from a “hold” rating to a “buy” rating and raised their price objective for the stock from $42.00 to $47.00 in a report on Monday, December 15th.

CNO Financial Group Stock Performance

Shares of CNO stock opened at $42.51 on Thursday. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.18 and a quick ratio of 0.18. The company’s fifty day moving average price is $42.02 and its two-hundred day moving average price is $40.16. The firm has a market capitalization of $4.05 billion, a P/E ratio of 14.86 and a beta of 0.84. CNO Financial Group has a 12 month low of $34.63 and a 12 month high of $44.19.

CNO Financial Group (NYSE:CNO) last announced its earnings results on Monday, November 3rd. The financial services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.34. CNO Financial Group had a return on equity of 15.81% and a net margin of 6.64%.The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $975.35 million. During the same period last year, the firm earned $1.11 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. On average, research analysts anticipate that CNO Financial Group will post 3.83 earnings per share for the current fiscal year.

CNO Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Wednesday, December 10th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Wednesday, December 10th. CNO Financial Group’s payout ratio is currently 23.78%.

Insider Buying and Selling at CNO Financial Group

In other CNO Financial Group news, CIO Eric R. Johnson sold 48,665 shares of the stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $41.24, for a total transaction of $2,006,944.60. Following the transaction, the executive owned 671,542 shares of the company’s stock, valued at $27,694,392.08. This trade represents a 6.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Gary C. Bhojwani sold 31,430 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $41.99, for a total value of $1,319,745.70. Following the completion of the sale, the chief executive officer owned 195,926 shares of the company’s stock, valued at $8,226,932.74. This trade represents a 13.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 89,378 shares of company stock worth $3,722,146 over the last quarter. 3.00% of the stock is owned by corporate insiders.

Institutional Trading of CNO Financial Group

Institutional investors and hedge funds have recently modified their holdings of the business. Allianz Asset Management GmbH boosted its holdings in shares of CNO Financial Group by 70.9% in the 2nd quarter. Allianz Asset Management GmbH now owns 1,546,745 shares of the financial services provider’s stock valued at $59,673,000 after buying an additional 641,950 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in CNO Financial Group by 72.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,333,698 shares of the financial services provider’s stock worth $51,641,000 after acquiring an additional 561,327 shares during the last quarter. Millennium Management LLC boosted its stake in CNO Financial Group by 190.3% in the third quarter. Millennium Management LLC now owns 579,656 shares of the financial services provider’s stock valued at $22,925,000 after acquiring an additional 379,984 shares during the period. Capitolis Liquid Global Markets LLC boosted its stake in CNO Financial Group by 384.9% in the third quarter. Capitolis Liquid Global Markets LLC now owns 438,800 shares of the financial services provider’s stock valued at $17,355,000 after acquiring an additional 348,300 shares during the period. Finally, Retirement Systems of Alabama bought a new position in shares of CNO Financial Group during the third quarter valued at approximately $11,857,000. 95.43% of the stock is owned by institutional investors and hedge funds.

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.