Goldman Sachs Group Inc. Lowers CNO Financial Group Inc. (CNO) to Neutral
CNO Financial Group Inc. (NYSE:CNO) was downgraded by equities research analysts at Goldman Sachs Group Inc. from a “buy” rating to a “neutral” rating in a report issued on Friday.
CNO has been the topic of several other reports. Keefe, Bruyette & Woods dropped their target price on CNO Financial Group from $20.00 to $19.00 and set a “market perform” rating on the stock in a report on Tuesday, August 2nd. Zacks Investment Research raised CNO Financial Group from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Tuesday, September 6th. Morgan Stanley reissued a “hold” rating and issued a $19.00 target price on shares of CNO Financial Group in a report on Thursday, July 28th. Wells Fargo & Co. initiated coverage on CNO Financial Group in a report on Thursday, September 22nd. They issued an “outperform” rating on the stock. Finally, Citigroup Inc. dropped their target price on CNO Financial Group from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, July 7th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $19.65.
CNO Financial Group (NYSE:CNO) opened at 15.55 on Friday. The firm has a 50-day moving average price of $15.70 and a 200 day moving average price of $17.63. CNO Financial Group has a 52 week low of $14.66 and a 52 week high of $20.88. The company has a market cap of $2.72 billion, a P/E ratio of 10.45 and a beta of 1.31.
CNO Financial Group (NYSE:CNO) last released its earnings results on Tuesday, July 26th. The company reported $0.35 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. CNO Financial Group had a return on equity of 5.68% and a net margin of 7.20%. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $961.56 million. During the same period in the previous year, the company posted $0.34 earnings per share. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. Analysts expect that CNO Financial Group will post $1.39 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Friday, September 9th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date was Wednesday, September 7th. CNO Financial Group’s dividend payout ratio (DPR) is presently 21.48%.
A number of hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new stake in CNO Financial Group during the fourth quarter worth approximately $38,805,000. Aperio Group LLC boosted its stake in CNO Financial Group by 34.6% in the first quarter. Aperio Group LLC now owns 77,083 shares of the company’s stock worth $1,381,000 after buying an additional 19,814 shares during the period. Virginia Retirement System purchased a new stake in CNO Financial Group during the first quarter worth approximately $889,000. Pacad Investment Ltd. purchased a new stake in CNO Financial Group during the first quarter worth approximately $401,000. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its stake in CNO Financial Group by 2.4% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 34,665 shares of the company’s stock worth $621,000 after buying an additional 800 shares during the period. Institutional investors own 97.67% of the company’s stock.
About CNO Financial Group
CNO Financial Group, Inc is a holding company for a group of insurance companies operating across the United States that develop, market and administer health insurance, annuity, individual life insurance and other insurance products. It operates through three operating segments: Bankers Life, Washington National and Colonial Penn.
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