Equities Analysts Issue Forecasts for CNO Financial Group Inc.’s Q3 2016 Earnings (CNO)
CNO Financial Group Inc. (NYSE:CNO) – Equities research analysts at FBR & Co decreased their Q3 2016 EPS estimates for shares of CNO Financial Group in a research note issued on Tuesday. FBR & Co analyst R. Binner now forecasts that the brokerage will post earnings per share of $0.33 for the quarter, down from their prior forecast of $0.35. FBR & Co also issued estimates for CNO Financial Group’s FY2016 earnings at $1.35 EPS.
CNO Financial Group (NYSE:CNO) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.35 EPS for the quarter, hitting the Zacks’ 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 return on equity of 5.68% and a net margin of 7.20%. CNO Financial Group’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period last year, the company posted $0.34 earnings per share.
A number of other research firms have also commented on CNO. BTIG Research reaffirmed a “buy” rating on shares of CNO Financial Group in a research report on Friday, July 15th. Deutsche Bank AG lowered their price target on CNO Financial Group from $19.00 to $18.00 and set a “hold” rating for the company in a research report on Thursday, July 28th. Morgan Stanley reaffirmed a “hold” rating and set a $19.00 price target on shares of CNO Financial Group in a research report on Thursday, July 28th. Citigroup Inc. lowered their price target on CNO Financial Group from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, July 7th. Finally, Evercore ISI assumed coverage on CNO Financial Group in a research report on Wednesday, July 6th. They set a “hold” rating and a $19.00 price target for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $18.85.
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Shares of CNO Financial Group (NYSE:CNO) traded up 0.26% during mid-day trading on Wednesday, reaching $15.69. The company had a trading volume of 396,598 shares. The company has a market capitalization of $2.75 billion, a price-to-earnings ratio of 10.54 and a beta of 1.23. The company has a 50 day moving average price of $15.64 and a 200 day moving average price of $17.37. CNO Financial Group has a one year low of $14.30 and a one year high of $20.88.
The business also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Friday, September 9th were paid a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $0.32 annualized dividend and a dividend yield of 2.04%. CNO Financial Group’s payout ratio is currently 21.48%.
Hedge funds have recently bought and sold shares of the company. MSI Financial Services Inc increased its stake in CNO Financial Group by 5,027.3% in the third quarter. MSI Financial Services Inc now owns 15,792 shares of the company’s stock valued at $241,000 after buying an additional 15,484 shares during the last quarter. Eagle Asset Management Inc. increased its stake in shares of CNO Financial Group by 11.2% in the third quarter. Eagle Asset Management Inc. now owns 934,654 shares of the company’s stock valued at $14,272,000 after buying an additional 93,955 shares in the last quarter. Mason Street Advisors LLC acquired a new stake in shares of CNO Financial Group during the second quarter valued at approximately $1,426,000. Royal Bank of Canada increased its stake in shares of CNO Financial Group by 12.5% in the second quarter. Royal Bank of Canada now owns 68,799 shares of the company’s stock valued at $1,201,000 after buying an additional 7,663 shares in the last quarter. Finally, Calvert Investment Management Inc. acquired a new stake in shares of CNO Financial Group during the second quarter valued at approximately $242,000. Institutional investors own 97.63% 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 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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