CNO Financial Group (NYSE:CNO) Price Target Increased to $24.00 by Analysts at Morgan Stanley

CNO Financial Group (NYSE:CNOGet Rating) had its price objective raised by Morgan Stanley from $23.00 to $24.00 in a report issued on Thursday morning, MarketBeat Ratings reports. Morgan Stanley currently has an equal weight rating on the financial services provider’s stock.

A number of other brokerages have also recently commented on CNO. Royal Bank of Canada increased their price objective on shares of CNO Financial Group from $25.00 to $26.00 and gave the company an outperform rating in a research note on Wednesday, November 2nd. StockNews.com started coverage on shares of CNO Financial Group in a research report on Wednesday, October 12th. They issued a hold rating on the stock. Finally, Piper Sandler lifted their price objective on CNO Financial Group from $19.00 to $20.00 and gave the stock a neutral rating in a research report on Friday, October 7th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, CNO Financial Group currently has a consensus rating of Hold and an average target price of $23.75.

CNO Financial Group Trading Up 2.4 %

Shares of CNO opened at $22.70 on Thursday. CNO Financial Group has a twelve month low of $16.56 and a twelve month high of $26.74. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 2.14. The firm has a market capitalization of $2.60 billion, a P/E ratio of 5.78 and a beta of 1.15. The firm’s 50-day moving average is $20.10 and its two-hundred day moving average is $19.34.

CNO Financial Group (NYSE:CNOGet Rating) last released its quarterly earnings data on Monday, October 31st. The financial services provider reported $0.49 earnings per share for the quarter, meeting the consensus estimate of $0.49. The firm had revenue of $905.30 million during the quarter, compared to the consensus estimate of $893.80 million. CNO Financial Group had a return on equity of 10.16% and a net margin of 12.76%. CNO Financial Group’s quarterly revenue was down 6.5% on a year-over-year basis. During the same period last year, the business posted $0.72 EPS. On average, research analysts predict that CNO Financial Group will post 2.27 earnings per share for the current fiscal year.

CNO Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 23rd. Shareholders of record on Friday, December 9th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Thursday, December 8th. This represents a $0.56 annualized dividend and a yield of 2.47%. CNO Financial Group’s payout ratio is currently 14.25%.

Hedge Funds Weigh In On CNO Financial Group

Several large investors have recently added to or reduced their stakes in CNO. Strs Ohio lifted its holdings in shares of CNO Financial Group by 136.4% during the 1st quarter. Strs Ohio now owns 2,600 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 1,500 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of CNO Financial Group during the 1st quarter worth $1,383,000. Jackson Creek Investment Advisors LLC raised its position in shares of CNO Financial Group by 5.8% in the 1st quarter. Jackson Creek Investment Advisors LLC now owns 43,748 shares of the financial services provider’s stock worth $1,098,000 after buying an additional 2,396 shares during the period. Eagle Asset Management Inc. acquired a new position in CNO Financial Group in the second quarter valued at $5,390,000. Finally, Profund Advisors LLC grew its position in CNO Financial Group by 10.7% during the first quarter. Profund Advisors LLC now owns 10,597 shares of the financial services provider’s stock valued at $266,000 after acquiring an additional 1,023 shares during the period. 98.32% of the stock is currently owned by hedge funds and other institutional investors.

CNO Financial Group Company Profile

(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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Analyst Recommendations for CNO Financial Group (NYSE:CNO)

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