CNO Financial Group Inc (NYSE:CNO) has been given an average rating of “Hold” by the six analysts that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $18.33.
Several research analysts have weighed in on CNO shares. Citigroup decreased their price target on shares of CNO Financial Group from $18.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, September 13th. Zacks Investment Research downgraded shares of CNO Financial Group from a “hold” rating to a “sell” rating and set a $17.00 price target on the stock. in a research report on Thursday, September 12th.
CNO traded up $0.21 during trading on Friday, hitting $16.18. The company’s stock had a trading volume of 48,739 shares, compared to its average volume of 850,891. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.62. CNO Financial Group has a one year low of $13.64 and a one year high of $22.13. The firm has a market cap of $2.50 billion, a PE ratio of 8.82 and a beta of 1.23. The business’s 50 day simple moving average is $15.22 and its 200-day simple moving average is $16.23.
CNO Financial Group (NYSE:CNO) last released its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $0.48 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.48. CNO Financial Group had a negative net margin of 9.67% and a positive return on equity of 7.71%. The business had revenue of $979.80 million for the quarter, compared to the consensus estimate of $956.66 million. During the same period last year, the firm earned $0.49 earnings per share. The company’s quarterly revenue was down 6.4% on a year-over-year basis. Equities research analysts expect that CNO Financial Group will post 1.9 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 24th. Shareholders of record on Tuesday, September 10th will be given a $0.11 dividend. The ex-dividend date is Monday, September 9th. This represents a $0.44 annualized dividend and a yield of 2.72%. CNO Financial Group’s payout ratio is presently 24.04%.
In other news, Director Frederick James Sievert sold 9,415 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $15.94, for a total transaction of $150,075.10. Following the sale, the director now directly owns 65,555 shares in the company, valued at approximately $1,044,946.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in CNO. Citadel Advisors LLC raised its position in shares of CNO Financial Group by 106.9% during the 2nd quarter. Citadel Advisors LLC now owns 2,853,670 shares of the financial services provider’s stock valued at $47,599,000 after purchasing an additional 1,474,518 shares during the period. Pzena Investment Management LLC raised its position in shares of CNO Financial Group by 60.3% during the 2nd quarter. Pzena Investment Management LLC now owns 3,855,224 shares of the financial services provider’s stock valued at $64,305,000 after purchasing an additional 1,450,851 shares during the period. Paradice Investment Management LLC raised its position in shares of CNO Financial Group by 14.0% during the 2nd quarter. Paradice Investment Management LLC now owns 5,008,089 shares of the financial services provider’s stock valued at $83,535,000 after purchasing an additional 614,372 shares during the period. Nuveen Asset Management LLC raised its position in shares of CNO Financial Group by 24.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,783,780 shares of the financial services provider’s stock valued at $46,433,000 after purchasing an additional 539,021 shares during the period. Finally, AQR Capital Management LLC raised its position in shares of CNO Financial Group by 67.7% during the 2nd quarter. AQR Capital Management LLC now owns 1,200,757 shares of the financial services provider’s stock valued at $20,029,000 after purchasing an additional 484,673 shares during the period. Hedge funds and other institutional investors own 96.41% 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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