CNO Financial Group Inc. (NYSE: CNO) shares rose on Tuesday Dec 13 with lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock, increasing the price target of stock.
Meanwhile, the Dow DJIA, +0.47% climbed 106 points, or 0.6%, to 19,905. If the Dow finishes higher, it will notch its seventh straight gain.
The S&P 500 index SPX, +0.56% gained 10.45 points, or 0.5%, to 2,267 and the tech-heavy Nasdaq Composite Index COMP, +1.02% added 48 points, or 0.9%, to 5,461.
Both the S&P 500 index SPX, +0.56% and Nasdaq Composite COMP, +1.02% ended lower on Monday, with investors appearing reluctant to push shares higher ahead of the Fed meeting
CNO Financial Group Inc. (NYSE: CNO) had its price target raised by equities researchers at FBR & Co from $21.00 to $22.00. With a rating of Outperform on the stock, the company has a 52-week high of $20.55. The one-year price target of $19.14 is less than the opening price of $19.19, resulting a number of other analysts to issue statements on the company recently.
Shares of CNO Financial Group Inc. (NYSE: CNO) opened at $19.19 on Tuesday and has traded in a range between, $19.16 and $19.33, and last traded at $19.18, which represents an increase of $0.03 or 0.16% compared to the previous closing price.
CNO Financial Group Inc. (NYSE: CNO) currently has a market cap of 3.33B.
CNO Financial Group Inc. (NYSE: CNO) Average Daily Trading Volume
The stock’s average daily volume is 2,046,730 shares out of a total float 171,380,000 and some 56,068 shares crossed the trading desk yesterday, below the norm. Trading volume is likely to increase in the next few days as swing traders often use increases in trading volume to identify substantial volume aggregation or circulation by institutional investors.
While increased trading for one day will not mean much, conversely, a trend of heavy trading volume on the buy side over a series of days or weeks delivers a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors retain teams of analysts that research thousands of stocks, so it is good validation to see them buying a stock you are considering.
CNO Financial Group Inc. (NYSE: CNO) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.
With that in mind, CNO Financial Group Inc. (NYSE: CNO) now has a 50-day MA of $17.08 and 200-day MA of $16.86. It has traded in a 52-week range between $14.30 – 20.55 and today’s last price is 6.67%% lower than the 52 week high of $20.55.
Indeed, earnings growth is among the most critical things to look at in regards to stock investing and, accordingly, investors identify companies that have grown their earnings by at least 25% over the past 3 years.
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