Zacks Investment Research lowered shares of CNO Financial Group (NYSE:CNO) from a buy rating to a hold rating in a research report sent to investors on Friday morning.
According to Zacks, “CNO Financial’s shares have outperformed the industry in a year’s time. The company’s Washington National segment has been boosting the top line. Solid liquidity has supported investment in key initiatives. In addition, the company is strategizing to reduce a long-term care exposure via run-off of existing non-performing businesses and increasing focus on growth of other potential business lines. Strong capital management supports its long-term growth. The company has seen the Zacks Consensus Estimate for 2018 earnings being revised upward in the last 60 days. However, the company suffers from a high level of debt. This has also led to a significant increase in interest expenses that has been putting pressure on the bottom line.”
Several other research analysts also recently weighed in on CNO. Keefe, Bruyette & Woods restated a hold rating and set a $24.00 price target on shares of CNO Financial Group in a research report on Thursday, December 21st. Wells Fargo set a $25.00 price target on shares of CNO Financial Group and gave the stock a hold rating in a research report on Tuesday, February 13th. ValuEngine downgraded shares of CNO Financial Group from a buy rating to a hold rating in a research report on Thursday, March 1st. Finally, William Blair assumed coverage on shares of CNO Financial Group in a research report on Monday, March 12th. They set an outperform rating for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $24.17.
CNO opened at $21.77 on Friday. CNO Financial Group has a twelve month low of $19.37 and a twelve month high of $26.47. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.15 and a quick ratio of 0.15. The stock has a market cap of $3,654.59, a P/E ratio of 10.78, a P/E/G ratio of 1.08 and a beta of 1.15.
CNO Financial Group (NYSE:CNO) last released its quarterly earnings results on Tuesday, February 13th. The financial services provider reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.20. CNO Financial Group had a net margin of 4.09% and a return on equity of 6.63%. The firm had revenue of $1.09 billion during the quarter. sell-side analysts expect that CNO Financial Group will post 2.03 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 23rd. Shareholders of record on Friday, March 9th were issued a $0.09 dividend. The ex-dividend date of this dividend was Thursday, March 8th. This represents a $0.36 dividend on an annualized basis and a yield of 1.65%. CNO Financial Group’s payout ratio is 17.82%.
Hedge funds have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. raised its holdings in CNO Financial Group by 114.1% in the 4th quarter. Meeder Asset Management Inc. now owns 6,084 shares of the financial services provider’s stock valued at $150,000 after acquiring an additional 3,243 shares during the last quarter. Connable Office Inc. acquired a new stake in CNO Financial Group in the 4th quarter valued at about $205,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in CNO Financial Group by 50.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,461 shares of the financial services provider’s stock valued at $258,000 after acquiring an additional 3,485 shares during the last quarter. Zeke Capital Advisors LLC acquired a new stake in CNO Financial Group in the 4th quarter valued at about $266,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in CNO Financial Group in the 3rd quarter valued at about $292,000. Institutional investors own 97.09% of the company’s stock.
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CNO Financial Group Company Profile
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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