CNO Financial Group (NYSE:CNO) Given New $45.00 Price Target at Royal Bank of Canada

CNO Financial Group (NYSE:CNO) had its price target increased by equities researchers at Royal Bank of Canada from $40.00 to $45.00 in a report issued 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 would indicate a potential upside of 9.91% from the stock’s current price.

A number of other analysts have also issued reports on the company. Piper Sandler reissued an “overweight” rating and issued a $46.00 price target (up from $44.00) on shares of CNO Financial Group in a research note on Monday. Jefferies Financial Group upped their price target on shares of CNO Financial Group from $36.00 to $41.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. Finally, BMO Capital Markets began coverage on shares of CNO Financial Group in a report on Thursday, January 23rd. They issued a “market perform” rating and a $38.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $38.33.

CNO Financial Group Price Performance

Shares of NYSE:CNO traded down $0.14 during midday trading on Monday, hitting $40.94. 109,001 shares of the stock were exchanged, compared to its average volume of 475,285. The stock has a market cap of $4.23 billion, a P/E ratio of 10.93 and a beta of 1.04. CNO Financial Group has a twelve month low of $24.92 and a twelve month high of $41.54. The company has a 50 day moving average price of $38.24 and a 200-day moving average price of $36.15. 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 (NYSE:CNO) last issued its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.25. CNO Financial Group had a return on equity of 17.21% and a net margin of 9.08%. On average, research analysts forecast that CNO Financial Group will post 3.79 earnings per share for the current year.

Insider Transactions at CNO Financial Group

In other CNO Financial Group news, CIO Eric R. Johnson sold 3,978 shares of CNO Financial Group stock in a transaction on Monday, November 18th. The shares were sold at an average price of $39.09, for a total value of $155,500.02. Following the completion of the transaction, the executive now owns 631,844 shares of the company’s stock, valued at $24,698,781.96. The trade was a 0.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CMO Rocco F. Tarasi III sold 1,484 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $38.02, for a total transaction of $56,421.68. Following the sale, the chief marketing officer now directly owns 79,896 shares in the company, valued at $3,037,645.92. This trade represents a 1.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,962 shares of company stock valued at $380,717. 3.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CNO Financial Group

Several institutional investors and hedge funds have recently bought and sold shares of CNO. Vestcor Inc grew its holdings in shares of CNO Financial Group by 50.1% during the fourth quarter. Vestcor Inc now owns 24,764 shares of the financial services provider’s stock valued at $921,000 after purchasing an additional 8,264 shares during the last quarter. HighTower Advisors LLC increased its position in CNO Financial Group by 5.3% in the fourth quarter. HighTower Advisors LLC now owns 7,873 shares of the financial services provider’s stock worth $293,000 after buying an additional 394 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in CNO Financial Group by 16.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,361 shares of the financial services provider’s stock valued at $981,000 after buying an additional 3,714 shares during the last quarter. Edgestream Partners L.P. acquired a new position in shares of CNO Financial Group during the fourth quarter valued at $5,354,000. Finally, Raymond James Financial Inc. bought a new position in shares of CNO Financial Group during the fourth quarter worth about $2,295,000. Institutional investors and hedge funds own 95.43% of the company’s stock.

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.