Royal Bank of Canada Forecasts Strong Price Appreciation for CNO Financial Group (NYSE:CNO) Stock

CNO Financial Group (NYSE:CNO) had its price objective hoisted by research analysts at Royal Bank of Canada from $38.00 to $40.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s target price suggests a potential upside of 11.64% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Piper Sandler raised their target price 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. Evercore ISI lifted their price objective on CNO Financial Group from $27.00 to $29.00 and gave the company an “underperform” rating in a research report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods lifted their price objective on CNO Financial Group from $30.00 to $31.00 and gave the company a “market perform” rating in a research report on Monday, July 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, CNO Financial Group currently has an average rating of “Hold” and an average price target of $34.50.

CNO Financial Group Trading Up 0.2 %

Shares of NYSE:CNO opened at $35.83 on Monday. The stock has a market capitalization of $3.79 billion, a price-to-earnings ratio of 14.45 and a beta of 1.01. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.19 and a current ratio of 0.19. The stock’s 50-day simple moving average is $34.59 and its two-hundred day simple moving average is $31.02. CNO Financial Group has a 52-week low of $24.00 and a 52-week high of $36.95.

CNO Financial Group (NYSE:CNO) last announced its earnings results on Thursday, October 31st. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.29. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $945.44 million. CNO Financial Group had a return on equity of 17.53% and a net margin of 6.06%. The business’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same period last year, the firm posted $0.88 earnings per share. Analysts expect that CNO Financial Group will post 3.43 EPS for the current year.

Insider Activity at CNO Financial Group

In related news, insider Jeanne L. Linnenbringer sold 5,364 shares of CNO Financial Group stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $34.88, for a total transaction of $187,096.32. Following the sale, the insider now owns 44,884 shares of the company’s stock, valued at approximately $1,565,553.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Jeanne L. Linnenbringer sold 5,364 shares of CNO Financial Group stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $34.88, for a total transaction of $187,096.32. Following the sale, the insider now owns 44,884 shares of the company’s stock, valued at approximately $1,565,553.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 value of $186,203.10. Following the sale, the insider now directly owns 37,663 shares in the company, valued at $1,290,334.38. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 3.21% of the stock is owned by corporate insiders.

Institutional Trading of CNO Financial Group

Large investors have recently added to or reduced their stakes in the company. CWM LLC increased its stake in CNO Financial Group by 64.1% in the 2nd quarter. CWM LLC now owns 1,144 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 447 shares during the last quarter. Quarry LP increased its stake in CNO Financial Group by 123.2% in the 2nd quarter. Quarry LP now owns 1,694 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 935 shares during the last quarter. EntryPoint Capital LLC bought a new stake in CNO Financial Group in the 1st quarter worth approximately $52,000. GAMMA Investing LLC increased its stake in CNO Financial Group by 141.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,985 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 1,164 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in CNO Financial Group by 25.4% in the 2nd quarter. Blue Trust Inc. now owns 2,384 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 483 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.