CNO Financial Group, Inc. (NYSE:CNO) Stock Has Average Price Target of $56.00 According to Brokerages

Key Points

• Analyst sentiment is moderately positive: Six analysts give CNO Financial Group a consensus “Moderate Buy” rating and an average 12-month price target of $56, compared with a recent share price of $55.39.
• Quarterly results exceeded expectations: CNO reported earnings per share of $1.90, versus the $1.10 consensus estimate, and revenue of $1.09 billion, above forecasts of $1.01 billion.
• Insiders have been selling shares: Company insiders sold 47,995 shares worth about $2.64 million over the past three months; the reported sales were made under pre-arranged trading plans.

CNO Financial Group, Inc. (NYSE:CNO - Get Free Report) has received an average rating of "Moderate Buy" from the six analysts that are covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $56.00.

A number of equities research analysts recently issued reports on the company. Capital One Financial set a $70.00 price target on CNO Financial Group in a research report on Wednesday, August 26th. Weiss Ratings lowered CNO Financial Group from a "buy (a)" rating to a "buy (a-)" rating in a research note on Friday, October 23rd. Zacks Research upgraded CNO Financial Group from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 20th. Jefferies Financial Group downgraded shares of CNO Financial Group from a "buy" rating to a "hold" rating and increased their price objective for the company from $53.00 to $55.00 in a research note on Friday, July 10th. Finally, Wall Street Zen lowered CNO Financial Group from a "buy" rating to a "hold" rating in a research report on Saturday.

CNO Financial Group Stock Performance

CNO Financial Group stock traded down $1.04 during mid-day trading on Friday, hitting $55.39. 584,731 shares of the company's stock traded hands, compared to its average volume of 943,566. The stock has a market cap of $5.12 billion, a price-to-earnings ratio of 12.65 and a beta of 0.80. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.17 and a quick ratio of 0.17. The firm has a 50 day simple moving average of $54.79 and a two-hundred day simple moving average of $48.86. CNO Financial Group has a fifty-two week low of $38.99 and a fifty-two week high of $59.15.

CNO Financial Group (NYSE:CNO - Get Free Report) last announced its earnings results on Thursday, October 29th. The financial services provider reported $1.90 earnings per share for the quarter, topping analysts' consensus estimates of $1.10 by $0.80. CNO Financial Group had a return on equity of 22.64% and a net margin of 9.19%. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the company earned $1.29 earnings per share. On average, research analysts expect that CNO Financial Group will post 5.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Karen DeToro sold 9,374 shares of the firm's stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $54.98, for a total value of $515,382.52. Following the completion of the sale, the insider directly owned 44,250 shares in the company, valued at $2,432,865. This trade represents a 17.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeremy Williams sold 4,420 shares of CNO Financial Group stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $55.27, for a total transaction of $244,293.40. Following the transaction, the insider owned 62,163 shares of the company's stock, valued at $3,435,749.01. This represents a 6.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 47,995 shares of company stock worth $2,641,336. Corporate insiders own 3.44% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. IFP Advisors Inc grew its holdings in CNO Financial Group by 38.4% during the second quarter. IFP Advisors Inc now owns 713 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 198 shares during the period. Fortitude Family Office LLC boosted its stake in CNO Financial Group by 156.9% in the 3rd quarter. Fortitude Family Office LLC now owns 483 shares of the financial services provider's stock worth $26,000 after purchasing an additional 295 shares during the period. Brighton Jones LLC lifted its holdings in shares of CNO Financial Group by 4.7% in the third quarter. Brighton Jones LLC now owns 7,514 shares of the financial services provider's stock worth $398,000 after buying an additional 339 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of CNO Financial Group by 2.1% in the first quarter. Oregon Public Employees Retirement Fund now owns 19,408 shares of the financial services provider's stock valued at $797,000 after acquiring an additional 400 shares during the period. Finally, Versant Capital Management Inc grew its stake in CNO Financial Group by 72.0% during the second quarter. Versant Capital Management Inc now owns 1,132 shares of the financial services provider's stock valued at $58,000 after acquiring an additional 474 shares in the last quarter. 95.43% of the stock is owned by institutional investors.

CNO Financial Group Company Profile

CNO Financial Group, Inc is a holding company for a group of insurance and financial services businesses focused on serving middle-income Americans, particularly individuals approaching or in retirement. Through its operating companies, CNO provides products designed to help customers protect income, manage health care expenses and prepare for retirement.

CNO's principal brands include Bankers Life, Colonial Penn and Washington National. Its offerings include life insurance, annuities, supplemental health insurance, Medicare supplement insurance and other insurance products.

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