CNO Financial Group’s (CNO) Hold Rating Reiterated at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reissued their hold rating on shares of CNO Financial Group (NYSE:CNO) in a research note released on Thursday morning, MarketBeat.com reports. They currently have a $46.00 target price on the financial services provider’s stock.

Other research analysts have also recently issued reports about the company. Jefferies Financial Group upgraded CNO Financial Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $42.00 to $47.00 in a report on Monday, December 15th. Piper Sandler raised their target price on CNO Financial Group from $46.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 23rd. Wall Street Zen upgraded CNO Financial Group from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of CNO Financial Group in a research note on Wednesday, January 21st. Finally, Evercore reiterated an “underperform” rating and set a $43.00 price target on shares of CNO Financial Group in a report on Wednesday, February 18th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $46.50.

CNO Financial Group Price Performance

CNO Financial Group stock opened at $39.57 on Thursday. CNO Financial Group has a 12-month low of $34.63 and a 12-month high of $44.85. The stock has a market cap of $3.73 billion, a P/E ratio of 17.75 and a beta of 0.83. The company has a 50-day moving average price of $41.65 and a 200 day moving average price of $41.11. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 1.43.

CNO Financial Group (NYSE:CNO) last issued its earnings results on Thursday, February 5th. The financial services provider reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.27. The company had revenue of $101.10 million for the quarter, compared to the consensus estimate of $1 billion. CNO Financial Group had a net margin of 4.94% and a return on equity of 15.80%. CNO Financial Group’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.18 earnings per share. Sell-side analysts anticipate that CNO Financial Group will post 3.83 earnings per share for the current year.

CNO Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Tuesday, March 10th. CNO Financial Group’s dividend payout ratio is currently 30.49%.

Insider Activity at CNO Financial Group

In related news, General Counsel Matthew J. Zimpfer sold 33,800 shares of CNO Financial Group stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $43.05, for a total value of $1,455,090.00. Following the completion of the sale, the general counsel owned 307,937 shares in the company, valued at approximately $13,256,687.85. This trade represents a 9.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Yvonne K. Franzese sold 9,000 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $43.17, for a total value of $388,530.00. Following the transaction, the insider owned 35,062 shares in the company, valued at $1,513,626.54. This trade represents a 20.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 228,208 shares of company stock worth $9,762,609. Company insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On CNO Financial Group

Institutional investors and hedge funds have recently modified their holdings of the company. Franklin Resources Inc. boosted its holdings in CNO Financial Group by 1.0% during the 3rd quarter. Franklin Resources Inc. now owns 4,302,316 shares of the financial services provider’s stock valued at $170,157,000 after acquiring an additional 42,467 shares during the period. American Century Companies Inc. increased its stake in CNO Financial Group by 3.8% during the third quarter. American Century Companies Inc. now owns 3,239,944 shares of the financial services provider’s stock worth $128,140,000 after purchasing an additional 118,417 shares during the period. Morgan Stanley lifted its position in shares of CNO Financial Group by 20.5% during the fourth quarter. Morgan Stanley now owns 1,870,982 shares of the financial services provider’s stock worth $79,461,000 after purchasing an additional 317,690 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of CNO Financial Group by 35.6% during the fourth quarter. AQR Capital Management LLC now owns 1,218,033 shares of the financial services provider’s stock worth $51,730,000 after purchasing an additional 319,795 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of CNO Financial Group by 11.6% in the third quarter. JPMorgan Chase & Co. now owns 882,512 shares of the financial services provider’s stock valued at $34,903,000 after purchasing an additional 91,417 shares during the period. Hedge funds and other institutional investors own 95.43% of the company’s stock.

About CNO Financial Group

CNO Financial Group is an Indiana‐based holding company that offers a range of insurance and retirement solutions through its operating subsidiaries. Its primary business activities include life insurance, annuities, and supplemental health insurance products designed to help individuals plan for retirement and manage health‐related expenses. The company serves middle‐income Americans, with particular emphasis on senior customers seeking guaranteed coverage and reliable income streams.

Originally founded as Conseco in 1979, the company underwent a financial restructuring and rebranded as CNO Financial Group in 2010.