CNO Financial Group (CNO) Earns Hold Rating from Keefe, Bruyette & Woods

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Keefe, Bruyette & Woods reaffirmed their hold rating on shares of CNO Financial Group (NYSE:CNO) in a research note released on Friday morning. Keefe, Bruyette & Woods currently has a $24.00 target price on the financial services provider’s stock.

CNO has been the topic of several other reports. Wells Fargo & Co set a $23.00 price target on shares of CNO Financial Group and gave the stock a hold rating in a research note on Wednesday, April 25th. B. Riley decreased their price target on shares of CNO Financial Group from $27.00 to $25.00 and set a buy rating on the stock in a research note on Tuesday, June 12th. Morgan Stanley raised shares of CNO Financial Group from an underweight rating to an equal weight rating in a research note on Thursday, May 17th. ValuEngine downgraded shares of CNO Financial Group from a sell rating to a strong sell rating in a research note on Monday, July 2nd. Finally, Zacks Investment Research raised shares of CNO Financial Group from a sell rating to a hold rating in a research note on Friday, June 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. CNO Financial Group presently has a consensus rating of Hold and a consensus target price of $24.80.

NYSE:CNO opened at $21.78 on Friday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $3.51 billion, a PE ratio of 10.78 and a beta of 1.13. CNO Financial Group has a twelve month low of $18.65 and a twelve month high of $26.47.

CNO Financial Group (NYSE:CNO) last posted its quarterly earnings results on Wednesday, August 1st. The financial services provider reported $0.49 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.01). The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.04 billion. CNO Financial Group had a return on equity of 7.11% and a net margin of 5.12%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.45 earnings per share. research analysts anticipate that CNO Financial Group will post 1.97 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 24th. Shareholders of record on Monday, September 10th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Friday, September 7th. CNO Financial Group’s dividend payout ratio (DPR) is presently 19.80%.

In other CNO Financial Group news, EVP Bruce K. Baude sold 33,000 shares of CNO Financial Group stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $22.17, for a total transaction of $731,610.00. Following the transaction, the executive vice president now directly owns 52,047 shares of the company’s stock, valued at $1,153,881.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.30% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Profund Advisors LLC increased its position in shares of CNO Financial Group by 11.2% during the first quarter. Profund Advisors LLC now owns 28,726 shares of the financial services provider’s stock valued at $622,000 after acquiring an additional 2,893 shares during the last quarter. Piedmont Investment Advisors LLC increased its position in shares of CNO Financial Group by 3.4% during the second quarter. Piedmont Investment Advisors LLC now owns 87,781 shares of the financial services provider’s stock valued at $1,671,000 after acquiring an additional 2,902 shares during the last quarter. Arizona State Retirement System increased its position in shares of CNO Financial Group by 3.0% during the second quarter. Arizona State Retirement System now owns 116,192 shares of the financial services provider’s stock valued at $2,212,000 after acquiring an additional 3,346 shares during the last quarter. Comerica Bank increased its position in shares of CNO Financial Group by 2.3% during the second quarter. Comerica Bank now owns 159,865 shares of the financial services provider’s stock valued at $3,172,000 after acquiring an additional 3,615 shares during the last quarter. Finally, Bank of Montreal Can increased its position in shares of CNO Financial Group by 3.7% during the second quarter. Bank of Montreal Can now owns 108,600 shares of the financial services provider’s stock valued at $2,066,000 after acquiring an additional 3,889 shares during the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.

About CNO Financial Group

CNO Financial Group, Inc, through its subsidiaries, develops, markets, and administers health insurance, annuity, individual life insurance, and other insurance products for senior and middle-income markets in the United States. It operates through Bankers Life, Washington National, Colonial Penn, and Long-Term Care in Run Off segments.

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Analyst Recommendations for CNO Financial Group (NYSE:CNO)

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