CNO Financial Group, Inc. (CNO) Receives Average Recommendation of “Buy” from Analysts
CNO Financial Group, Inc. (NYSE:CNO) has earned a consensus recommendation of “Buy” from the ten research firms that are covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $21.33.
A number of brokerages recently weighed in on CNO. Zacks Investment Research upgraded shares of CNO Financial Group from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Monday. BidaskClub upgraded shares of CNO Financial Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 2nd. ValuEngine upgraded shares of CNO Financial Group from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Wells Fargo & Company restated a “hold” rating on shares of CNO Financial Group in a report on Tuesday, June 20th. Finally, FBR & Co restated an “outperform” rating and set a $23.00 target price on shares of CNO Financial Group in a report on Wednesday, May 31st.
Shares of CNO Financial Group (CNO) opened at 23.53 on Friday. The company has a market capitalization of $3.98 billion, a P/E ratio of 10.29 and a beta of 1.22. CNO Financial Group has a 12-month low of $14.30 and a 12-month high of $23.95. The company’s 50 day moving average is $21.72 and its 200 day moving average is $20.80.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 25th. Investors of record on Monday, September 11th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, September 8th. This represents a $0.36 dividend on an annualized basis and a yield of 1.53%. CNO Financial Group’s payout ratio is 15.72%.
CNO Financial Group declared that its Board of Directors has authorized a share buyback program on Wednesday, May 10th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 8.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
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A number of institutional investors have recently modified their holdings of CNO. Nationwide Fund Advisors increased its position in CNO Financial Group by 8.2% in the second quarter. Nationwide Fund Advisors now owns 694,583 shares of the financial services provider’s stock valued at $14,503,000 after buying an additional 52,653 shares in the last quarter. Ameriprise Financial Inc. increased its position in CNO Financial Group by 12.2% in the second quarter. Ameriprise Financial Inc. now owns 3,719,068 shares of the financial services provider’s stock valued at $77,649,000 after buying an additional 404,552 shares in the last quarter. Teachers Advisors LLC increased its position in CNO Financial Group by 1.4% in the second quarter. Teachers Advisors LLC now owns 434,834 shares of the financial services provider’s stock valued at $9,079,000 after buying an additional 6,158 shares in the last quarter. WBI Investments Inc. bought a new position in CNO Financial Group during the second quarter valued at approximately $2,553,000. Finally, Riverhead Capital Management LLC increased its position 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 valued at $193,000 after buying an additional 3,852 shares in the last quarter. Institutional investors and hedge funds own 96.67% of the company’s stock.
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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