CNO Financial Group (NYSE:CNO) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

by · The Markets Daily

CNO Financial Group (NYSE:CNO – Get Free Report) had its price target boosted by research analysts at Royal Bank of Canada from $38.00 to $40.00 in a report issued on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 10.38% from the stock’s current price.

A number of other analysts have also recently commented on CNO. Keefe, Bruyette & Woods lifted their price target on CNO Financial Group from $30.00 to $31.00 and gave the stock a “market perform” rating in a research report on Monday, July 8th. Piper Sandler lifted their price target on CNO Financial Group from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Finally, Evercore ISI boosted their price objective on CNO Financial Group from $27.00 to $29.00 and gave the company an “underperform” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, CNO Financial Group presently has an average rating of “Hold” and an average target price of $34.50.

Get Our Latest Analysis on CNO Financial Group

CNO Financial Group Stock Up 0.9 %

Shares of NYSE:CNO traded up $0.32 on Monday, reaching $36.24. The company had a trading volume of 102,108 shares, compared to its average volume of 738,023. CNO Financial Group has a 52-week low of $24.00 and a 52-week high of $36.95. The firm’s 50 day simple moving average is $34.55 and its 200-day simple moving average is $30.91. The firm has a market capitalization of $3.83 billion, a PE ratio of 14.61 and a beta of 1.01. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 1.66.

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

Insider Transactions at CNO Financial Group

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Easterly Investment Partners LLC increased its stake in shares of CNO Financial Group by 3.8% during the 3rd quarter. Easterly Investment Partners LLC now owns 609,624 shares of the financial services provider’s stock worth $21,398,000 after purchasing an additional 22,453 shares in the last quarter. QRG Capital Management Inc. raised its holdings in CNO Financial Group by 6.6% in the 3rd quarter. QRG Capital Management Inc. now owns 77,327 shares of the financial services provider’s stock valued at $2,714,000 after acquiring an additional 4,766 shares during the last quarter. Robeco Institutional Asset Management B.V. acquired a new position in CNO Financial Group in the 3rd quarter valued at $209,000. Harbor Capital Advisors Inc. raised its holdings in CNO Financial Group by 131.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 32,141 shares of the financial services provider’s stock valued at $1,128,000 after acquiring an additional 18,257 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in CNO Financial Group by 3.5% in the 3rd quarter. State of Alaska Department of Revenue now owns 12,290 shares of the financial services provider’s stock valued at $431,000 after acquiring an additional 415 shares during the last quarter. 95.43% of the stock is owned by hedge funds and other institutional investors.

CNO Financial Group Company Profile

(Get Free Report)

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.

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