CNO Financial Group Inc (NYSE:CNO) has been assigned a consensus recommendation of “Hold” from the nine ratings firms that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $18.14.
A number of research firms have recently issued reports on CNO. B. Riley raised shares of CNO Financial Group from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $15.00 to $20.00 in a report on Friday, May 29th. TheStreet downgraded shares of CNO Financial Group from a “b” rating to a “c+” rating in a report on Wednesday, March 11th. ValuEngine downgraded shares of CNO Financial Group from a “sell” rating to a “strong sell” rating in a research note on Friday, May 1st. Morgan Stanley lowered their price target on shares of CNO Financial Group from $19.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 17th. Finally, Piper Sandler initiated coverage on shares of CNO Financial Group in a research note on Wednesday, May 20th. They issued a “neutral” rating and a $14.00 price target for the company.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp increased its position in shares of CNO Financial Group by 1.7% during the first quarter. State Street Corp now owns 5,682,122 shares of the financial services provider’s stock valued at $70,401,000 after buying an additional 94,830 shares during the period. New Mexico Educational Retirement Board boosted its stake in CNO Financial Group by 29.5% during the first quarter. New Mexico Educational Retirement Board now owns 36,000 shares of the financial services provider’s stock worth $446,000 after acquiring an additional 8,200 shares in the last quarter. Guggenheim Capital LLC boosted its stake in CNO Financial Group by 1,871.9% during the first quarter. Guggenheim Capital LLC now owns 1,452,355 shares of the financial services provider’s stock worth $17,994,000 after acquiring an additional 1,378,703 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in CNO Financial Group by 1.7% during the first quarter. The Manufacturers Life Insurance Company now owns 306,923 shares of the financial services provider’s stock worth $3,803,000 after acquiring an additional 5,090 shares in the last quarter. Finally, Cim Investment Mangement Inc. bought a new stake in CNO Financial Group during the first quarter worth about $170,000. Institutional investors own 99.58% of the company’s stock.
NYSE:CNO traded up $0.09 during trading hours on Friday, hitting $15.30. The stock had a trading volume of 17,619 shares, compared to its average volume of 1,457,285. The company has a 50 day simple moving average of $14.48 and a two-hundred day simple moving average of $15.50. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.24 and a quick ratio of 0.24. CNO Financial Group has a one year low of $8.79 and a one year high of $20.93. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of 6.91 and a beta of 1.30.
CNO Financial Group (NYSE:CNO) last posted its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.18. CNO Financial Group had a net margin of 9.07% and a return on equity of 6.97%. The company had revenue of $717.20 million during the quarter, compared to the consensus estimate of $961.59 million. During the same period in the previous year, the firm posted $0.41 EPS. The firm’s revenue was down 29.9% compared to the same quarter last year. Equities research analysts anticipate that CNO Financial Group will post 1.87 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 24th. Investors of record on Wednesday, June 10th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $0.48 annualized dividend and a dividend yield of 3.14%. This is a boost from CNO Financial Group’s previous quarterly dividend of $0.11. CNO Financial Group’s payout ratio is currently 26.67%.
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.
See Also: What is the Current Ratio?
Receive News & Ratings for CNO Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CNO Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.