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

CNO Financial Group (NYSE:CNO) had its target price increased by Piper Sandler from $46.00 to $49.00 in a report published on Wednesday,Benzinga reports. Piper Sandler currently has an overweight rating on the financial services provider’s stock.

Other research analysts also recently issued reports about the stock. BMO Capital Markets initiated coverage on shares of CNO Financial Group in a research report on Thursday, January 23rd. They set a “market perform” rating and a $38.00 price objective on the stock. Royal Bank of Canada raised 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 upped 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, Jefferies Financial Group lifted their target price on CNO Financial Group from $36.00 to $41.00 and gave the company a “hold” rating in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $41.00.

CNO Financial Group Stock Performance

Shares of CNO stock opened at $42.47 on Wednesday. The stock’s 50-day moving average is $40.63 and its two-hundred day moving average is $38.26. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.19 and a current ratio of 0.22. CNO Financial Group has a 1 year low of $24.92 and a 1 year high of $43.20. The firm has a market cap of $4.26 billion, a price-to-earnings ratio of 11.36 and a beta of 1.02.

CNO Financial Group (NYSE:CNO) last released its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.31 EPS for the quarter, topping the consensus estimate of $1.06 by $0.25. CNO Financial Group had a return on equity of 17.20% and a net margin of 9.08%. Analysts predict that CNO Financial Group will post 3.83 earnings per share for the current year.

CNO Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders 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 1.51%. The ex-dividend date was Monday, March 10th. CNO Financial Group’s dividend payout ratio (DPR) is 17.11%.

Insider Activity

In related news, General Counsel Matthew J. Zimpfer sold 40,800 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $41.49, for a total value of $1,692,792.00. Following the completion of the sale, the general counsel now owns 244,943 shares in the company, valued at $10,162,685.07. This trade represents a 14.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Yvonne K. Franzese sold 8,109 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $42.00, for a total transaction of $340,578.00. Following the transaction, the insider now owns 38,540 shares in the company, valued at $1,618,680. The trade was a 17.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 159,512 shares of company stock valued at $6,497,710 in the last three months. 3.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CNO Financial Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE lifted its holdings in shares of CNO Financial Group by 236.9% in the fourth quarter. Bank of America Corp DE now owns 922,411 shares of the financial services provider’s stock valued at $34,323,000 after purchasing an additional 648,591 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in CNO Financial Group in the 4th quarter worth approximately $15,093,000. Balyasny Asset Management L.P. acquired a new position in CNO Financial Group in the 4th quarter valued at $14,270,000. Norges Bank purchased a new position in shares of CNO Financial Group during the 4th quarter worth $13,975,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of CNO Financial Group by 41.3% during the fourth quarter. JPMorgan Chase & Co. now owns 1,274,370 shares of the financial services provider’s stock worth $47,419,000 after purchasing an additional 372,701 shares during the last quarter. 95.43% of the stock is owned by institutional investors and hedge funds.

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.