CNO Financial Group Inc. (NYSE:CNO) Receives Consensus Rating of “Buy” from Brokerages
Shares of CNO Financial Group Inc. (NYSE:CNO) have been assigned an average recommendation of “Buy” from the ten brokerages that are currently covering the company. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $19.50.
Several equities analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of 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. Keefe, Bruyette & Woods dropped their target price on shares of 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. Morgan Stanley restated a “hold” rating and issued a $19.00 target price on shares of CNO Financial Group in a report on Thursday, July 28th. Deutsche Bank AG dropped their target price on shares of CNO Financial Group from $19.00 to $18.00 and set a “hold” rating on the stock in a report on Thursday, July 28th. Finally, BTIG Research reiterated a “buy” rating on shares of CNO Financial Group in a report on Friday, July 15th.
In related news, EVP Christopher J. Nickele sold 24,996 shares of the company’s stock in a transaction dated Thursday, June 23rd. The shares were sold at an average price of $19.25, for a total value of $481,173.00. Following the sale, the executive vice president now owns 74,975 shares in the company, valued at approximately $1,443,268.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.20% of the stock is currently owned by corporate insiders.
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Large investors have recently bought and sold shares of the company. State Treasurer State of Michigan raised its stake in CNO Financial Group by 0.3% in the second quarter. State Treasurer State of Michigan now owns 71,900 shares of the company’s stock worth $1,255,000 after buying an additional 200 shares in the last quarter. Pacad Investment Ltd. increased its stake in shares of CNO Financial Group by 0.9% in the second quarter. Pacad Investment Ltd. now owns 22,600 shares of the company’s stock worth $395,000 after buying an additional 200 shares during the last quarter. Miles Capital Inc. increased its stake in shares of CNO Financial Group by 1.5% in the second quarter. Miles Capital Inc. now owns 13,887 shares of the company’s stock worth $242,000 after buying an additional 201 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in shares of CNO Financial Group by 1.4% in the second quarter. Ameritas Investment Partners Inc. now owns 42,285 shares of the company’s stock worth $738,000 after buying an additional 579 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY increased its stake in shares of CNO Financial Group by 0.3% in the second quarter. Metropolitan Life Insurance Co. NY now owns 291,613 shares of the company’s stock worth $5,092,000 after buying an additional 775 shares during the last quarter. Institutional investors own 97.92% of the company’s stock.
CNO Financial Group (NYSE:CNO) traded up 0.53% during trading on Tuesday, reaching $15.18. The company had a trading volume of 826,720 shares. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of 10.20 and a beta of 1.31. The company has a 50-day moving average price of $15.70 and a 200 day moving average price of $17.79. CNO Financial Group has a one year low of $14.66 and a one year high of $20.88.
CNO Financial Group (NYSE:CNO) last released its earnings results on Tuesday, July 26th. The company reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $961.56 million. CNO Financial Group had a net margin of 7.20% and a return on equity of 5.68%. CNO Financial Group’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.34 earnings per share. Analysts expect that CNO Financial Group will post $1.40 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Friday, September 9th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.12%. CNO Financial Group’s dividend payout ratio is presently 21.48%.
CNO Financial Group Company Profile
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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