CNO Financial Group, Inc. (NYSE:CNO) Given Consensus Recommendation of “Hold” by Brokerages

CNO Financial Group, Inc. (NYSE:CNO) has been given a consensus recommendation of “Hold” by the six research firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $40.50.

A number of equities research analysts have commented on the company. BMO Capital Markets assumed coverage on CNO Financial Group in a report on Thursday, January 23rd. They issued a “market perform” rating and a $38.00 target price on the stock. Keefe, Bruyette & Woods lifted their target price on CNO Financial Group from $42.00 to $44.00 and gave the stock a “market perform” rating in a report on Wednesday, February 12th. Jefferies Financial Group lifted their price target on CNO Financial Group from $36.00 to $41.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. Piper Sandler reiterated an “overweight” rating and issued a $46.00 price target (up previously from $44.00) on shares of CNO Financial Group in a research report on Monday, February 10th. Finally, Royal Bank of Canada lifted their price target on CNO Financial Group from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, February 10th.

CNO Financial Group Stock Performance

Shares of CNO opened at $41.27 on Friday. The business’s fifty day simple moving average is $39.02 and its two-hundred day simple moving average is $36.95. The company has a current ratio of 0.22, a quick ratio of 0.19 and a debt-to-equity ratio of 1.61. CNO Financial Group has a 12 month low of $24.92 and a 12 month high of $42.02. The company has a market cap of $4.26 billion, a price-to-earnings ratio of 11.03 and a beta of 1.04.

CNO Financial Group (NYSE:CNO) last announced its earnings results on Thursday, February 6th. The financial services provider reported $1.31 EPS for the quarter, topping 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%. Research analysts anticipate that CNO Financial Group will post 3.83 earnings per share for the current fiscal year.

CNO Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Monday, March 10th. CNO Financial Group’s payout ratio is currently 17.11%.

Insider Buying and Selling

In related news, CMO Rocco F. Tarasi III sold 1,484 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $38.02, for a total transaction of $56,421.68. Following the completion of the transaction, the chief marketing officer now owns 79,896 shares of the company’s stock, valued at approximately $3,037,645.92. This trade represents a 1.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Matthew J. Zimpfer sold 40,800 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $40.10, for a total transaction of $1,636,080.00. Following the completion of the transaction, the general counsel now directly owns 204,143 shares of the company’s stock, valued at $8,186,134.30. This represents a 16.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 87,584 shares of company stock worth $3,554,089 in the last 90 days. Insiders own 3.21% of the company’s stock.

Hedge Funds Weigh In On CNO Financial Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp raised its holdings in shares of CNO Financial Group by 368.2% in the 4th quarter. Jones Financial Companies Lllp now owns 796 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 626 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in CNO Financial Group by 95.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 855 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 417 shares in the last quarter. Principal Securities Inc. raised its stake in CNO Financial Group by 51.6% during the 4th quarter. Principal Securities Inc. now owns 955 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 325 shares in the last quarter. Headlands Technologies LLC raised its stake in CNO Financial Group by 193.2% during the 4th quarter. Headlands Technologies LLC now owns 1,337 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 881 shares in the last quarter. Finally, Quarry LP increased its stake in CNO Financial Group by 137.8% in the fourth quarter. Quarry LP now owns 1,334 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 773 shares during the period. Hedge funds and other institutional investors own 95.43% of the company’s stock.

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.