CNO Financial Group, Inc. (NYSE:CNO) Receives Consensus Recommendation of “Hold” from Analysts

Shares of CNO Financial Group, Inc. (NYSE:CNOGet Rating) have been given a consensus recommendation of “Hold” by the six ratings firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $24.25.

Several equities research analysts recently commented on the company. Zacks Investment Research cut CNO Financial Group from a “hold” rating to a “strong sell” rating and set a $17.00 price target for the company. in a report on Monday. Morgan Stanley cut their price target 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. StockNews.com initiated coverage on shares of CNO Financial Group in a report on Thursday, March 31st. They issued a “hold” rating on the stock. B. Riley restated a “buy” rating on shares of CNO Financial Group in a report on Friday, March 4th. Finally, Jefferies Financial Group initiated coverage on shares of CNO Financial Group in a report on Tuesday, January 25th. They issued a “hold” rating and a $25.00 price objective on the stock.

In other news, Director Frederick James Sievert sold 3,000 shares of the firm’s stock in a transaction on Friday, May 6th. The shares were sold at an average price of $21.56, for a total value of $64,680.00. Following the sale, the director now directly owns 62,421 shares in the company, valued at approximately $1,345,796.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.70% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of CNO. JPMorgan Chase & Co. grew its position in shares of 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 valued at $166,510,000 after buying an additional 5,793,528 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of CNO Financial Group in the 4th quarter valued at $31,348,000. Norges Bank purchased a new position in shares of CNO Financial Group in the 4th quarter valued at $28,741,000. Easterly Investment Partners LLC purchased a new position in shares of CNO Financial Group in the 3rd quarter valued at $19,233,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of CNO Financial Group in the 1st quarter valued at $15,315,000. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CNO stock opened at $19.49 on Friday. The company has a market capitalization of $2.26 billion, a P/E ratio of 6.07 and a beta of 1.19. The business’s 50 day moving average is $23.87 and its two-hundred day moving average is $24.27. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.75. CNO Financial Group has a 12-month low of $19.39 and a 12-month high of $27.33.

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). The firm had revenue of $842.90 million during the quarter, compared to analysts’ expectations of $915.85 million. CNO Financial Group had a net margin of 10.25% and a return on equity of 7.00%. During the same quarter last year, the business earned $0.55 EPS. On average, research analysts predict that CNO Financial Group will post 2.1 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 24th. Stockholders of record on Friday, June 10th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.87%. This is a positive change from CNO Financial Group’s previous quarterly dividend of $0.13. The ex-dividend date is Thursday, June 9th. CNO Financial Group’s dividend payout ratio (DPR) is presently 16.20%.

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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