CNO Financial Group (NYSE:CNO) Price Target Increased to $31.00 by Analysts at Piper Sandler

CNO Financial Group (NYSE:CNO) had its price target raised by Piper Sandler from $29.00 to $31.00 in a report released on Friday, Benzinga reports. Piper Sandler currently has an overweight rating on the financial services provider’s stock.

Separately, StockNews.com lowered CNO Financial Group from a buy rating to a hold rating in a research note on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $28.00.

CNO Financial Group Price Performance

Shares of NYSE:CNO opened at $27.71 on Friday. CNO Financial Group has a 1-year low of $22.27 and a 1-year high of $29.09. The firm has a market capitalization of $3.00 billion, a PE ratio of 8.08 and a beta of 1.05. The business’s 50 day moving average is $27.64 and its 200-day moving average is $27.20. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.41.

CNO Financial Group (NYSE:CNO) last announced its quarterly earnings results on Monday, April 29th. The financial services provider reported $0.52 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.12). The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $935.76 million. CNO Financial Group had a net margin of 9.07% and a return on equity of 16.77%. CNO Financial Group’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 EPS. Sell-side analysts predict that CNO Financial Group will post 3.08 earnings per share for the current year.

CNO Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Monday, June 10th were paid a $0.16 dividend. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.64 dividend on an annualized basis and a yield of 2.31%. This is a positive change from CNO Financial Group’s previous quarterly dividend of $0.15. CNO Financial Group’s payout ratio is currently 18.66%.

Insiders Place Their Bets

In other CNO Financial Group news, insider Karen Detoro sold 2,666 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $27.12, for a total value of $72,301.92. Following the transaction, the insider now owns 72,383 shares of the company’s stock, valued at $1,963,026.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other CNO Financial Group news, insider Karen Detoro sold 2,666 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $27.12, for a total value of $72,301.92. Following the transaction, the insider now owns 72,383 shares of the company’s stock, valued at $1,963,026.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michael E. Mead sold 5,013 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $28.85, for a total value of $144,625.05. Following the completion of the transaction, the insider now directly owns 36,522 shares in the company, valued at approximately $1,053,659.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,065 shares of company stock valued at $1,675,109. 3.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CNO Financial Group

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Meritage Portfolio Management raised its position in shares of CNO Financial Group by 2.1% during the fourth quarter. Meritage Portfolio Management now owns 17,920 shares of the financial services provider’s stock worth $500,000 after acquiring an additional 377 shares during the last quarter. Blair William & Co. IL raised its position in shares of CNO Financial Group by 2.1% during the first quarter. Blair William & Co. IL now owns 19,189 shares of the financial services provider’s stock worth $527,000 after acquiring an additional 399 shares during the last quarter. Covestor Ltd raised its position in shares of CNO Financial Group by 18.9% during the first quarter. Covestor Ltd now owns 3,598 shares of the financial services provider’s stock worth $99,000 after acquiring an additional 571 shares during the last quarter. Uncommon Cents Investing LLC raised its position in shares of CNO Financial Group by 3.6% during the first quarter. Uncommon Cents Investing LLC now owns 17,505 shares of the financial services provider’s stock worth $481,000 after acquiring an additional 615 shares during the last quarter. Finally, Amalgamated Bank raised its position in shares of CNO Financial Group by 1.0% during the fourth quarter. Amalgamated Bank now owns 65,021 shares of the financial services provider’s stock worth $1,814,000 after acquiring an additional 651 shares during the last quarter. Institutional investors own 95.43% of the company’s stock.

About CNO Financial Group

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.