CNO Financial Group, Inc. (NYSE:CNO) was downgraded by equities research analysts at Morgan Stanley from an “equal” rating to a “weight” rating in a research note issued on Monday, MarketBeat.com reports. They presently have a $21.00 target price on the financial services provider’s stock. Morgan Stanley’s price target would indicate a potential downside of 9.25% from the stock’s previous close. The analysts noted that the move was a valuation call.

A number of other equities research analysts also recently commented on the stock. Zacks Investment Research upgraded shares of CNO Financial Group from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Monday, August 7th. BidaskClub upgraded shares of CNO Financial Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 2nd. ValuEngine upgraded shares of CNO Financial Group from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Wells Fargo & Company restated a “hold” rating on shares of CNO Financial Group in a research report on Tuesday, June 20th. Finally, FBR & Co restated an “outperform” rating and issued a $23.00 price objective on shares of CNO Financial Group in a research report on Wednesday, May 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. CNO Financial Group presently has an average rating of “Hold” and an average price target of $21.29.

Shares of CNO Financial Group (NYSE:CNO) traded down 0.713% during trading on Monday, hitting $22.975. The company had a trading volume of 297,971 shares. The firm has a market capitalization of $3.88 billion, a P/E ratio of 10.046 and a beta of 1.22. The stock’s 50-day moving average is $21.82 and its 200 day moving average is $20.83. CNO Financial Group has a 52-week low of $14.30 and a 52-week high of $23.95.

CNO Financial Group announced that its board has initiated a share buyback plan on Wednesday, May 10th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the financial services provider to repurchase up to 8.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

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Several large investors have recently bought and sold shares of CNO. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in CNO Financial Group by 9.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,976 shares of the financial services provider’s stock worth $146,000 after buying an additional 622 shares during the last quarter. Envestnet Asset Management Inc. increased its stake 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 during the last quarter. Riverhead Capital Management LLC increased its stake in CNO Financial Group by 71.3% in the second quarter. Riverhead Capital Management LLC now owns 9,252 shares of the financial services provider’s stock worth $193,000 after buying an additional 3,852 shares during the last quarter. Trexquant Investment LP bought a new stake in CNO Financial Group during the second quarter worth about $202,000. Finally, Teza Capital Management LLC bought a new stake in CNO Financial Group during the first quarter worth about $219,000. 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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