CNO Financial Group, Inc. (NYSE:CNO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

According to Zacks, “CNO Financial's shares have outperformed the industry in last one year. The company’s investments in technological innovations impress. In addition, it is strategizing to reduce long-term care exposure via run-off of existing non-performing businesses and increasing focus on growth of other potential business lines. Strong capital management supports its long-term growth. The company’s second-quarter 2017 earnings surpassed the Zacks Consensus Estimate and grew on higher revenues. However, its low market share in some product lines poses risk of limiting business opportunities going forward. Also, suspension of its share buyback plan might have affected its bottom line. Its margin is heavily affected by its high level of debt that increases the borrowing cost.”

CNO has been the subject of several other research reports. FBR & Co reaffirmed an “outperform” rating and issued a $23.00 target price on shares of CNO Financial Group in a research note on Wednesday, May 31st. Wells Fargo & Company reaffirmed 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, ValuEngine raised shares of CNO Financial Group from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Seven analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $20.00.

CNO Financial Group (NYSE:CNO) traded up 1.66% during trading on Friday, reaching $23.28. 1,039,106 shares of the company were exchanged. CNO Financial Group has a 52-week low of $14.30 and a 52-week high of $23.67. The firm has a 50-day moving average of $21.13 and a 200-day moving average of $20.62. The firm has a market cap of $3.93 billion, a price-to-earnings ratio of 10.18 and a beta of 1.22.

CNO Financial Group declared that its board has authorized a stock buyback plan on Wednesday, May 10th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the financial services provider to buy up to 8.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in CNO. World Asset Management Inc boosted its position in CNO Financial Group by 0.8% in the first quarter. World Asset Management Inc now owns 12,448 shares of the financial services provider’s stock valued at $255,000 after buying an additional 94 shares during the period. Teacher Retirement System of Texas boosted its position in shares of CNO Financial Group by 1.0% in the second quarter. Teacher Retirement System of Texas now owns 13,956 shares of the financial services provider’s stock valued at $291,000 after buying an additional 135 shares during the last quarter. Oakbrook Investments LLC boosted its position in shares of CNO Financial Group by 1.6% in the second quarter. Oakbrook Investments LLC now owns 12,700 shares of the financial services provider’s stock valued at $265,000 after buying an additional 200 shares during the last quarter. Argent Capital Management LLC boosted its position in shares of CNO Financial Group by 2.4% in the first quarter. Argent Capital Management LLC now owns 20,305 shares of the financial services provider’s stock valued at $416,000 after buying an additional 470 shares during the last quarter. Finally, Capstone Asset Management Co. boosted its position in shares of CNO Financial Group by 2.0% in the first quarter. Capstone Asset Management Co. now owns 24,558 shares of the financial services provider’s stock valued at $503,000 after buying an additional 480 shares during the last quarter. Institutional investors own 95.34% 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.

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Analyst Recommendations for CNO Financial Group (NYSE:CNO)

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