CNO Financial Group Inc. (NYSE: CNO) stock fell -0.14% on Tuesday to $22.19 against a previous-day closing price of $22.22. With 0.7 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.97 million shares. During the session, the Insurance – Life company that operates in wider Financial sector, reached to the highest price of $22.65 whereas the lowest price it dropped to was $22.03. The 52-week range on CNO shows that it touched its highest point at $26.35 and its lowest point at $16.56 during that stretch. It currently has a 1-year price target of $25.33. With its current market cap of 2.59 billion, CNO has annualized dividend of $0.60 while the current yield stands at 2.70%. Beta for the stock currently stands at 1.15.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CNO was up-trending over the past week, with a rise of 5.02%, but this was up by 1.00% over a month. Three-month performance dropped to -11.31% while six-month performance fell -2.25%. The stock gained 14.97% in the past year, while it has lost -2.89% so far this year. A look at the trailing 12-month EPS for CNO yields 2.43 with Next year EPS estimates of 3.02. For the next quarter, that number is 0.71. This implies an EPS growth rate of 0.20% for this year and 9.56% for next year. EPS is expected to grow by 10.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 10.80%.
Float and Shares Shorts:
At present, 114.42 million CNO shares are outstanding with a float of 112.60 million shares on hand for trading. On Apr 27, 2023, short shares totaled 2.8 million, which was 2.44% higher than short shares on Mar 30, 2023. In addition to Mr. Gary Chandru Bhojwani as the firm’s CEO & Director, Mr. Paul Harrington McDonough serves as its CFO & Exec. VP.
Institutional Ownership:
Through their ownership of 97.20% of CNO’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 60.07% of CNO, in contrast to 6.00% held by mutual funds. Shares owned by individuals account for 36.47%. As the largest shareholder in CNO with 11.96% of the stake, The Vanguard Group, Inc. holds 13,662,541 shares worth 13,662,541. A second-largest stockholder of CNO, BlackRock Fund Advisors, holds 13,093,300 shares, controlling over 11.46% of the firm’s shares. Pzena Investment Management LLC is the third largest shareholder in CNO, holding 7,495,115 shares or 6.56% stake. With a 4.97% stake in CNO, the Undiscovered Managers Behavioral is the largest stakeholder. A total of 5,676,606 shares are owned by the mutual fund manager. The iShares Core S&P Mid Cap ETF, which owns about 3.12% of CNO stock, is the second-largest Mutual Fund holder. It holds 3,568,101 shares valued at 80.07 million. Vanguard Total Stock Market ETF holds 2.96% of the stake in CNO, owning 3,385,207 shares worth 75.96 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CNO since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With CNO analysts setting a high price target of $30.00 and a low target of $23.00, the average target price over the next 12 months is $25.29. Based on these targets, CNO could surge 35.2% to reach the target high and rise by 3.65% to reach the target low. Reaching the average price target will result in a growth of 13.97% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded CNO stock several times over the past three months with 0 Buys and 22 Sells. In these transactions, 0 shares were bought while 187,619 shares were sold. The number of buy transactions has increased to 37 while that of sell transactions has risen to 56 over the past year. The total number of shares bought during that period was 1,938,540 while 688,256 shares were sold.
