Morgan Stanley cut shares of CNO Financial Group, Inc. (NYSE:CNO) from an equal weight rating to an underweight rating in a research report report published on Monday morning, Marketbeat reports. They currently have $21.00 target price on the financial services provider’s stock. The analysts noted that the move was a valuation call.

Several other research firms also recently issued reports on CNO. Zacks Investment Research downgraded shares of CNO Financial Group from a hold rating to a sell rating in a report on Monday, April 17th. ValuEngine raised shares of CNO Financial Group from a hold rating to a buy rating in a research note on Tuesday, June 27th. Wells Fargo & Company reissued a hold rating on shares of CNO Financial Group in a research note on Monday, June 5th. BidaskClub raised shares of CNO Financial Group from a hold rating to a buy rating in a research note on Friday, June 16th. Finally, FBR & Co reissued an outperform rating and issued a $23.00 price target on shares of CNO Financial Group in a research note on Wednesday, May 31st. One analyst has rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. CNO Financial Group has an average rating of Hold and a consensus target price of $21.29.

CNO Financial Group (NYSE:CNO) traded up 0.56% during mid-day trading on Monday, hitting $23.29. 339,301 shares of the stock were exchanged. The stock’s 50 day moving average is $21.92 and its 200 day moving average is $20.88. CNO Financial Group has a 52-week low of $14.30 and a 52-week high of $23.95. The stock has a market cap of $3.94 billion, a PE ratio of 10.18 and a beta of 1.22.

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The firm also recently declared a quarterly dividend, which will be paid on Monday, September 25th. Stockholders of record on Monday, September 11th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Friday, September 8th. CNO Financial Group’s dividend payout ratio is currently 15.72%.

CNO Financial Group declared that its board has authorized a stock buyback program on Wednesday, May 10th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 8.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Large investors have recently added to or reduced their stakes in the company. American Century Companies Inc. purchased a new stake in CNO Financial Group during the first quarter valued at about $639,000. State Board of Administration of Florida Retirement System boosted its stake in CNO Financial Group by 15.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 182,840 shares of the financial services provider’s stock valued at $3,748,000 after buying an additional 24,845 shares during the last quarter. LSV Asset Management boosted its stake in CNO Financial Group by 25.4% in the first quarter. LSV Asset Management now owns 4,338,908 shares of the financial services provider’s stock valued at $88,947,000 after buying an additional 878,522 shares during the last quarter. State Treasurer State of Michigan boosted its stake in CNO Financial Group by 1.0% in the first quarter. State Treasurer State of Michigan now owns 70,600 shares of the financial services provider’s stock valued at $1,447,000 after buying an additional 700 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its stake in CNO Financial Group by 4.9% in the first quarter. Great West Life Assurance Co. Can now owns 104,039 shares of the financial services provider’s stock valued at $2,131,000 after buying an additional 4,840 shares during the last quarter. Hedge funds and other institutional investors own 97.08% of the company’s stock.

CNO Financial Group Company Profile

CNO Financial Group, Inc is a holding company for a group of insurance companies operating throughout the United States that develops, markets and administers health insurance, annuity, individual life insurance and other insurance products. The Company’s segments include Bankers Life, Washington National and Colonial Penn.

Analyst Recommendations for CNO Financial Group (NYSE:CNO)

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