CNO Financial Group’s (CNO) Overweight Rating Reiterated at Piper Sandler

Piper Sandler reiterated their overweight rating on shares of CNO Financial Group (NYSE:CNO) in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a $46.00 price target on the financial services provider’s stock, up from their prior price target of $44.00.

A number of other analysts also recently weighed in on the stock. Royal Bank of Canada increased their price target on shares of CNO Financial Group from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. BMO Capital Markets initiated coverage on shares of CNO Financial Group in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $38.00 price target on the stock. Finally, Jefferies Financial Group increased their price target on shares of CNO Financial Group from $36.00 to $41.00 and gave the company a “hold” rating in a research report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $40.50.

CNO Financial Group Stock Performance

CNO Financial Group stock opened at $40.59 on Monday. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 1.50. CNO Financial Group has a 1 year low of $24.92 and a 1 year high of $41.54. The company has a market cap of $4.19 billion, a PE ratio of 10.85 and a beta of 1.04. The company’s 50-day moving average is $38.34 and its two-hundred day moving average is $36.32.

CNO Financial Group (NYSE:CNO) last released its earnings results on Thursday, February 6th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.25. CNO Financial Group had a net margin of 9.08% and a return on equity of 17.21%. Equities analysts anticipate that CNO Financial Group will post 3.79 earnings per share for the current year.

CNO Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.58%. CNO Financial Group’s payout ratio is 17.11%.

Insider Buying and Selling

In related news, CIO Eric R. Johnson sold 3,978 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $39.09, for a total transaction of $155,500.02. Following the completion of the sale, the executive now directly owns 631,844 shares of the company’s stock, valued at approximately $24,698,781.96. This represents a 0.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Rocco F. Tarasi III sold 4,500 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $37.51, for a total value of $168,795.00. Following the sale, the chief marketing officer now directly owns 72,896 shares of the company’s stock, valued at approximately $2,734,328.96. The trade was a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 9,962 shares of company stock valued at $380,717. 3.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CNO Financial Group

Several hedge funds have recently made changes to their positions in CNO. Assenagon Asset Management S.A. grew its stake in shares of CNO Financial Group by 300.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,199,040 shares of the financial services provider’s stock worth $42,086,000 after acquiring an additional 899,990 shares in the last quarter. Norges Bank bought a new position in shares of CNO Financial Group during the 4th quarter worth approximately $13,975,000. JPMorgan Chase & Co. grew its stake in shares of CNO Financial Group by 41.3% during the 4th quarter. JPMorgan Chase & Co. now owns 1,274,370 shares of the financial services provider’s stock worth $47,419,000 after acquiring an additional 372,701 shares in the last quarter. American Century Companies Inc. grew its stake in shares of CNO Financial Group by 11.7% during the 4th quarter. American Century Companies Inc. now owns 2,687,861 shares of the financial services provider’s stock worth $100,015,000 after acquiring an additional 282,611 shares in the last quarter. Finally, FMR LLC grew its stake in shares of CNO Financial Group by 28.8% during the 3rd quarter. FMR LLC now owns 1,040,619 shares of the financial services provider’s stock worth $36,526,000 after acquiring an additional 232,631 shares in the last quarter. 95.43% of the stock is owned by institutional investors.

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.