CNO Financial Group, Inc. (NYSE:CNO) Receives Consensus Rating of “Hold” from Analysts

CNO Financial Group, Inc. (NYSE:CNO) has been given an average recommendation of “Hold” by the five analysts that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $52.50.

A number of research analysts recently weighed in on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of CNO Financial Group from $53.00 to $57.00 and gave the company a “market perform” rating in a report on Monday, August 3rd. Evercore set a $48.00 price target on shares of CNO Financial Group and gave the company an “in-line” rating in a research report on Monday, June 1st. Jefferies Financial Group downgraded shares of CNO Financial Group from a “buy” rating to a “hold” rating and boosted their price target for the stock from $53.00 to $55.00 in a research note on Friday, July 10th. Weiss Ratings raised CNO Financial Group from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday, August 11th. Finally, Wall Street Zen upgraded CNO Financial Group from a “hold” rating to a “buy” rating in a report on Saturday, August 8th.

CNO Financial Group Trading Up 1.5%

CNO traded up $0.81 during mid-day trading on Monday, hitting $54.33. 31,372 shares of the stock were exchanged, compared to its average volume of 707,363. The firm’s fifty day moving average is $53.11 and its two-hundred day moving average is $47.01. CNO Financial Group has a 1-year low of $38.22 and a 1-year high of $57.59. The company has a market cap of $5.03 billion, a PE ratio of 18.67 and a beta of 0.81. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 1.65.

CNO Financial Group (NYSE:CNO) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.29. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $999.45 million. CNO Financial Group had a net margin of 6.02% and a return on equity of 18.76%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.87 earnings per share. Equities analysts forecast that CNO Financial Group will post 4.74 earnings per share for the current fiscal year.

CNO Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Thursday, September 10th. CNO Financial Group’s dividend payout ratio (DPR) is presently 24.74%.

Insider Activity

In related news, CEO Gary C. Bhojwani sold 86,048 shares of CNO Financial Group stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $51.48, for a total value of $4,429,751.04. Following the completion of the transaction, the chief executive officer owned 174,264 shares in the company, valued at $8,971,110.72. The trade was a 33.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Rocco F. Tarasi III sold 5,750 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $50.00, for a total transaction of $287,500.00. Following the transaction, the chief marketing officer owned 79,191 shares of the company’s stock, valued at $3,959,550. This trade represents a 6.77% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 95,106 shares of company stock valued at $4,879,343 in the last quarter. Company insiders own 3.44% of the company’s stock.

Institutional Investors Weigh In On CNO Financial Group

Several institutional investors have recently modified their holdings of CNO. Nykredit A S purchased a new position in CNO Financial Group in the second quarter valued at $39,000. EverSource Wealth Advisors LLC lifted its holdings in CNO Financial Group by 123.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,176 shares of the financial services provider’s stock worth $45,000 after buying an additional 649 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of CNO Financial Group by 75.4% during the 1st quarter. Bessemer Group Inc. now owns 1,133 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 487 shares in the last quarter. Osaic Holdings Inc. increased its holdings in shares of CNO Financial Group by 39.2% in the 2nd quarter. Osaic Holdings Inc. now owns 1,194 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 336 shares during the last quarter. Finally, Versant Capital Management Inc increased its holdings in shares of CNO Financial Group by 72.0% in the 2nd quarter. Versant Capital Management Inc now owns 1,132 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 474 shares during the last quarter. 95.43% of the stock is owned by hedge funds and other institutional investors.

CNO Financial Group Company Profile

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.