CNO Financial Group (NYSE:CNO) Price Target Cut to $22.00 by Analysts at Piper Sandler

CNO Financial Group (NYSE:CNOGet Rating) had its price target decreased by investment analysts at Piper Sandler from $23.00 to $22.00 in a research report issued on Friday, The Fly reports. Piper Sandler’s target price indicates a potential upside of 7.21% from the company’s current price.

CNO has been the topic of a number of other research reports. B. Riley reaffirmed a “buy” rating on shares of CNO Financial Group in a report on Friday, March 4th. StockNews.com began coverage on CNO Financial Group in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research lowered shares of CNO Financial Group from a “hold” rating to a “strong sell” rating and set a $17.00 price objective for the company. in a research note on Monday, May 16th. Finally, Morgan Stanley cut their price objective on CNO Financial Group from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Friday, April 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, CNO Financial Group presently has an average rating of “Hold” and a consensus target price of $23.00.

CNO opened at $20.52 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.20 and a current ratio of 0.20. The business’s fifty day moving average is $23.37 and its two-hundred day moving average is $24.05. CNO Financial Group has a one year low of $18.96 and a one year high of $26.98. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 6.39 and a beta of 1.19.

CNO Financial Group (NYSE:CNOGet Rating) last released its earnings results on Monday, May 2nd. The financial services provider reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.15). CNO Financial Group had a return on equity of 7.00% and a net margin of 10.25%. The business had revenue of $842.90 million for the quarter, compared to analysts’ expectations of $915.85 million. During the same quarter last year, the company posted $0.55 earnings per share. On average, analysts predict that CNO Financial Group will post 2.1 EPS for the current fiscal year.

In other CNO Financial Group news, Director David B. Foss bought 3,000 shares of the business’s stock in a transaction dated Thursday, May 19th. The shares were purchased at an average price of $19.53 per share, for a total transaction of $58,590.00. Following the purchase, the director now directly owns 32,388 shares of the company’s stock, valued at $632,537.64. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.70% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its stake in CNO Financial Group by 486.5% in the 4th quarter. JPMorgan Chase & Co. now owns 6,984,494 shares of the financial services provider’s stock worth $166,510,000 after purchasing an additional 5,793,528 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of CNO Financial Group during the fourth quarter valued at $31,348,000. Norges Bank purchased a new position in CNO Financial Group in the 4th quarter worth about $28,741,000. Easterly Investment Partners LLC bought a new position in CNO Financial Group during the 3rd quarter valued at about $19,233,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of CNO Financial Group during the 1st quarter valued at about $15,315,000. 96.18% of the stock is currently owned by institutional investors.

About CNO Financial Group (Get Rating)

CNO Financial Group, Inc, through its subsidiaries, develops, markets, and administers health insurance, annuity, individual life insurance, and other insurance products 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.

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