CNO Financial Group Inc. (CNO) Downgraded to “Neutral” at BTIG Research
Other research analysts also recently issued reports about the stock. Deutsche Bank AG decreased their target price on shares of CNO Financial Group from $20.00 to $19.00 and set a hold rating for the company in a research report on Thursday, July 7th. Keefe, Bruyette & Woods decreased their target price on shares of CNO Financial Group from $20.00 to $19.00 and set a market perform rating for the company in a research report on Tuesday, August 2nd. Goldman Sachs Group Inc. downgraded shares of CNO Financial Group from a buy rating to a neutral rating and decreased their target price for the company from $21.00 to $17.00 in a research report on Friday. Wells Fargo & Co. started coverage on shares of CNO Financial Group in a research report on Thursday, September 22nd. They set an outperform rating for the company. Finally, Evercore ISI started coverage on shares of CNO Financial Group in a research report on Wednesday, July 6th. They set a hold rating and a $19.00 target price for the company. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. CNO Financial Group presently has an average rating of Hold and an average target price of $19.05.
CNO Financial Group (NYSE:CNO) opened at 15.27 on Friday. CNO Financial Group has a 12-month low of $14.30 and a 12-month high of $20.88. The firm’s 50 day moving average is $15.70 and its 200 day moving average is $17.61. The company has a market cap of $2.67 billion, a P/E ratio of 10.26 and a beta of 1.23.
CNO Financial Group (NYSE:CNO) last posted its quarterly earnings data 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 net margin of 7.20% and a return on equity of 5.68%. The business earned $1 billion during the quarter, compared to the consensus estimate of $961.56 million. During the same period in the previous year, the firm posted $0.34 earnings per share. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. Equities research analysts anticipate that CNO Financial Group will post $1.35 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 9th were paid a dividend of $0.08 per share. The ex-dividend date was Wednesday, September 7th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.10%. CNO Financial Group’s dividend payout ratio is currently 21.48%.
Hedge funds have recently added to or reduced their stakes in the company. Seven Eight Capital LLC bought a new stake in CNO Financial Group during the first quarter worth approximately $102,000. Cantab Capital Partners LLP bought a new stake in CNO Financial Group during the second quarter worth approximately $146,000. World Asset Management Inc bought a new stake in CNO Financial Group during the second quarter worth approximately $175,000. Zacks Investment Management bought a new stake in CNO Financial Group during the second quarter worth approximately $179,000. Finally, LS Investment Advisors LLC boosted its stake in CNO Financial Group by 74.4% in the second quarter. LS Investment Advisors LLC now owns 10,740 shares of the company’s stock worth $188,000 after buying an additional 4,580 shares in the last quarter. 97.67% of the stock is owned by institutional investors and hedge funds.
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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