CNO Financial Group Inc (CNO) Given Consensus Recommendation of “Hold” by Brokerages
CNO Financial Group Inc (NYSE:CNO) has received an average rating of “Hold” from the ten research firms that are currently covering the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $19.86.
Several equities analysts have recently commented on CNO shares. Citigroup Inc started coverage on shares of CNO Financial Group in a report on Thursday, January 26th. They set a “neutral” rating and a $21.00 price target on the stock. BTIG Research restated a “hold” rating on shares of CNO Financial Group in a report on Thursday, February 9th. Keefe, Bruyette & Woods set a $22.00 price objective on shares of CNO Financial Group and gave the company a “hold” rating in a research note on Friday, March 17th. Finally, Zacks Investment Research lowered shares of CNO Financial Group from a “hold” rating to a “sell” rating in a research note on Monday, April 17th.
In related news, CEO Edward J. Bonach sold 25,583 shares of CNO Financial Group stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $20.63, for a total value of $527,777.29. Following the completion of the sale, the chief executive officer now owns 480,431 shares of the company’s stock, valued at approximately $9,911,291.53. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Christopher J. Nickele sold 32,600 shares of CNO Financial Group stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $21.08, for a total transaction of $687,208.00. Following the completion of the sale, the executive vice president now directly owns 80,158 shares of the company’s stock, valued at approximately $1,689,730.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 101,065 shares of company stock valued at $2,115,404. 2.20% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in CNO. Ladenburg Thalmann Financial Services Inc. raised its position in CNO Financial Group by 128.2% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,265 shares of the financial services provider’s stock worth $131,000 after buying an additional 4,081 shares in the last quarter. Elkfork Partners LLC purchased a new position in CNO Financial Group during the fourth quarter worth $179,000. Envestnet Asset Management Inc. raised its position in CNO Financial Group by 1,250.7% in the first quarter. Envestnet Asset Management Inc. now owns 9,036 shares of the financial services provider’s stock worth $185,000 after buying an additional 8,367 shares in the last quarter. Pacad Investment Ltd. raised its position in CNO Financial Group by 0.9% in the fourth quarter. Pacad Investment Ltd. now owns 11,400 shares of the financial services provider’s stock worth $218,000 after buying an additional 100 shares in the last quarter. Finally, Teza Capital Management LLC purchased a new position in CNO Financial Group during the first quarter worth $219,000. 97.17% of the stock is owned by institutional investors and hedge funds.
CNO Financial Group (NYSE:CNO) opened at 20.47 on Friday. CNO Financial Group has a 12 month low of $14.30 and a 12 month high of $22.60. The company has a 50 day moving average price of $20.83 and a 200 day moving average price of $19.77. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of 9.61 and a beta of 1.26.
CNO Financial Group (NYSE:CNO) last posted its quarterly earnings results on Wednesday, April 26th. The financial services provider reported $0.34 EPS for the quarter, beating the consensus estimate of $0.31 by $0.03. CNO Financial Group had a net margin of 8.99% and a return on equity of 5.40%. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the previous year, the company posted $0.26 EPS. CNO Financial Group’s revenue was up 11.5% on a year-over-year basis. Equities research analysts predict that CNO Financial Group will post $1.50 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 23rd. Investors of record on Friday, June 9th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Wednesday, June 7th. This is a positive change from CNO Financial Group’s previous quarterly dividend of $0.08. CNO Financial Group’s payout ratio is presently 15.76%.
About CNO Financial Group
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.
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