CNO Financial Group (NYSE:CNO) Cut to “Hold” at Wall Street Zen

CNO Financial Group (NYSE:CNO) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Several other brokerages also recently commented on CNO. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $46.00 price objective on shares of CNO Financial Group in a research report on Thursday. Evercore reiterated an “underperform” rating and set a $43.00 target price on shares of CNO Financial Group in a research report on Wednesday, February 18th. Jefferies Financial Group upgraded shares of CNO Financial Group from a “hold” rating to a “buy” rating and upped their price target for the stock from $42.00 to $47.00 in a report on Monday, December 15th. Piper Sandler raised their price target on shares of CNO Financial Group from $46.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 23rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of CNO Financial Group in a report on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $46.50.

CNO Financial Group Stock Performance

CNO Financial Group stock opened at $39.57 on Friday. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.17 and a quick ratio of 0.17. The firm has a market capitalization of $3.73 billion, a P/E ratio of 17.75 and a beta of 0.83. CNO Financial Group has a 1-year low of $34.63 and a 1-year high of $44.85. The company’s 50-day moving average is $41.65 and its 200 day moving average is $41.09.

CNO Financial Group (NYSE:CNO) last released its earnings results on Thursday, February 5th. The financial services provider reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.27. CNO Financial Group had a return on equity of 15.80% and a net margin of 4.94%.The firm had revenue of $101.10 million for the quarter, compared to analysts’ expectations of $1 billion. During the same quarter in the prior year, the firm posted $1.18 earnings per share. The company’s quarterly revenue was up 4.2% on a year-over-year basis. Research analysts forecast that CNO Financial Group will post 3.83 EPS for the current year.

Insider Buying and Selling at CNO Financial Group

In other news, insider Yvonne K. Franzese sold 9,000 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $43.17, for a total transaction of $388,530.00. Following the transaction, the insider directly owned 35,062 shares in the company, valued at approximately $1,513,626.54. This trade represents a 20.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Matthew J. Zimpfer sold 33,800 shares of CNO Financial Group stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $43.05, for a total transaction of $1,455,090.00. Following the transaction, the general counsel directly owned 307,937 shares in the company, valued at approximately $13,256,687.85. The trade was a 9.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 228,208 shares of company stock worth $9,762,609. Company insiders own 3.00% of the company’s stock.

Institutional Trading of CNO Financial Group

A number of hedge funds have recently bought and sold shares of CNO. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in CNO Financial Group during the 4th quarter valued at $18,297,000. Jain Global LLC bought a new position in shares of CNO Financial Group in the 4th quarter worth $17,996,000. Millennium Management LLC raised its position in shares of CNO Financial Group by 190.3% in the 3rd quarter. Millennium Management LLC now owns 579,656 shares of the financial services provider’s stock worth $22,925,000 after acquiring an additional 379,984 shares in the last quarter. Capitolis Liquid Global Markets LLC lifted its stake in shares of CNO Financial Group by 384.9% during the 3rd quarter. Capitolis Liquid Global Markets LLC now owns 438,800 shares of the financial services provider’s stock worth $17,355,000 after purchasing an additional 348,300 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of CNO Financial Group by 35.6% during the 4th quarter. AQR Capital Management LLC now owns 1,218,033 shares of the financial services provider’s stock worth $51,730,000 after purchasing an additional 319,795 shares during the last quarter. Hedge funds and other institutional investors own 95.43% of the company’s stock.

About CNO Financial Group

CNO Financial Group is an Indiana‐based holding company that offers a range of insurance and retirement solutions through its operating subsidiaries. Its primary business activities include life insurance, annuities, and supplemental health insurance products designed to help individuals plan for retirement and manage health‐related expenses. The company serves middle‐income Americans, with particular emphasis on senior customers seeking guaranteed coverage and reliable income streams.

Originally founded as Conseco in 1979, the company underwent a financial restructuring and rebranded as CNO Financial Group in 2010.