CNO Financial Group (CNO) Sets New 12-Month Low at $18.14

CNO Financial Group Inc (NYSE:CNO)’s share price hit a new 52-week low during trading on Friday . The company traded as low as $18.14 and last traded at $18.23, with a volume of 184153 shares traded. The stock had previously closed at $18.70.

A number of brokerages recently commented on CNO. Zacks Investment Research upgraded CNO Financial Group from a “sell” rating to a “hold” rating in a research report on Monday, August 6th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $24.00 target price on shares of CNO Financial Group in a research report on Friday, August 17th. Finally, ValuEngine upgraded CNO Financial Group from a “strong sell” rating to a “sell” rating in a research report on Friday, August 3rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $23.75.

The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.58. The company has a market cap of $3.09 billion, a price-to-earnings ratio of 9.09 and a beta of 1.12.

CNO Financial Group (NYSE:CNO) last released its earnings results on Wednesday, October 31st. The financial services provider reported $0.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.02. CNO Financial Group had a return on equity of 7.11% and a net margin of 5.12%. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $999.03 million. During the same period in the previous year, the firm posted $0.59 EPS. CNO Financial Group’s revenue for the quarter was up 37.2% on a year-over-year basis. Research analysts predict that CNO Financial Group Inc will post 1.97 EPS for the current fiscal year.

In related news, EVP Bruce K. Baude sold 33,000 shares of the business’s stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $22.17, for a total transaction of $731,610.00. Following the completion of the transaction, the executive vice president now directly owns 52,047 shares of the company’s stock, valued at approximately $1,153,881.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.30% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. grew its stake in CNO Financial Group by 0.7% during the 3rd quarter. Victory Capital Management Inc. now owns 1,933,471 shares of the financial services provider’s stock worth $41,028,000 after purchasing an additional 13,084 shares in the last quarter. US Bancorp DE grew its stake in CNO Financial Group by 30.4% during the 3rd quarter. US Bancorp DE now owns 11,685 shares of the financial services provider’s stock worth $248,000 after purchasing an additional 2,722 shares in the last quarter. WBI Investments Inc. purchased a new stake in CNO Financial Group during the 3rd quarter worth about $3,524,000. Adams Diversified Equity Fund Inc. lifted its holdings in CNO Financial Group by 8.7% during the 3rd quarter. Adams Diversified Equity Fund Inc. now owns 36,300 shares of the financial services provider’s stock worth $770,000 after buying an additional 2,900 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in CNO Financial Group during the 3rd quarter worth about $6,199,000. 92.42% of the stock is owned by hedge funds and other institutional investors.

CNO Financial Group Company Profile (NYSE:CNO)

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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