ValuEngine Lowers CNO Financial Group (NYSE:CNO) to Strong Sell

ValuEngine cut shares of CNO Financial Group (NYSE:CNO) from a sell rating to a strong sell rating in a report issued on Friday, November 2nd.

Several other analysts have also issued reports on CNO. Zacks Investment Research upgraded shares of CNO Financial Group from a sell rating to a hold rating in a research report on Monday, August 6th. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $24.00 price objective on shares of CNO Financial Group in a report on Friday, August 17th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The company presently has an average rating of Hold and an average price target of $23.75.

Shares of CNO traded down $0.22 during mid-day trading on Friday, hitting $19.00. 1,242,765 shares of the company’s stock were exchanged, compared to its average volume of 1,008,484. CNO Financial Group has a twelve month low of $18.15 and a twelve month high of $26.47. The company has a quick ratio of 0.14, a current ratio of 0.26 and a debt-to-equity ratio of 0.71. The firm has a market cap of $3.13 billion, a price-to-earnings ratio of 9.41 and a beta of 1.14.

CNO Financial Group (NYSE:CNO) last posted its earnings results on Wednesday, October 31st. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.02. CNO Financial Group had a negative net margin of 8.95% and a positive return on equity of 7.89%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $999.03 million. During the same period last year, the business posted $0.59 EPS. CNO Financial Group’s revenue was up 37.2% compared to the same quarter last year. As a group, research analysts predict that CNO Financial Group will post 1.97 earnings per share for the current fiscal year.

In other CNO Financial Group news, EVP Matthew J. Zimpfer sold 17,417 shares of the firm’s stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $18.46, for a total value of $321,517.82. Following the completion of the sale, the executive vice president now owns 137,580 shares in the company, valued at approximately $2,539,726.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen N. David acquired 2,000 shares of the stock in a transaction on Monday, November 5th. The stock was bought at an average price of $18.50 per share, with a total value of $37,000.00. Following the transaction, the director now directly owns 19,706 shares in the company, valued at approximately $364,561. The disclosure for this purchase can be found here. Company insiders own 2.30% of the company’s stock.

Large investors have recently modified their holdings of the company. Dalton Greiner Hartman Maher & Co. grew its position in shares of CNO Financial Group by 6.6% during the 3rd quarter. Dalton Greiner Hartman Maher & Co. now owns 925,408 shares of the financial services provider’s stock worth $19,637,000 after buying an additional 57,550 shares during the period. Private Management Group Inc. grew its position in shares of CNO Financial Group by 8.0% during the 2nd quarter. Private Management Group Inc. now owns 331,203 shares of the financial services provider’s stock worth $6,306,000 after buying an additional 24,433 shares during the period. Sei Investments Co. grew its position in shares of CNO Financial Group by 5,452.8% during the 2nd quarter. Sei Investments Co. now owns 96,729 shares of the financial services provider’s stock worth $1,842,000 after buying an additional 94,987 shares during the period. LSV Asset Management grew its position in shares of CNO Financial Group by 3.2% during the 2nd quarter. LSV Asset Management now owns 5,953,734 shares of the financial services provider’s stock worth $113,359,000 after buying an additional 182,248 shares during the period. Finally, FMR LLC grew its position in shares of CNO Financial Group by 2.6% during the 2nd quarter. FMR LLC now owns 528,438 shares of the financial services provider’s stock worth $10,062,000 after buying an additional 13,290 shares during the period. Institutional investors own 92.49% of the company’s stock.

CNO Financial Group Company Profile

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 operates through Bankers Life, Washington National, Colonial Penn, and Long-Term Care in Run Off segments.

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Analyst Recommendations for CNO Financial Group (NYSE:CNO)

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