CNO Financial Group (CNO) Cut to Strong Sell at ValuEngine

ValuEngine cut shares of CNO Financial Group (NYSE:CNO) from a sell rating to a strong sell rating in a research note released on Friday morning.

CNO has been the topic of several other reports. Zacks Investment Research upgraded shares of CNO Financial Group from a hold rating to a buy rating and set a $23.00 price objective on the stock in a research report on Wednesday, October 3rd. Keefe, Bruyette & Woods restated a hold rating and set a $24.00 price objective on shares of CNO Financial Group in a research report on Friday, August 17th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $23.75.

CNO opened at $18.37 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.14 and a current ratio of 0.26. CNO Financial Group has a 1-year low of $18.15 and a 1-year high of $26.47. The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of 9.09 and a beta of 1.14.

CNO Financial Group (NYSE:CNO) last released its quarterly earnings results on Wednesday, October 31st. The financial services provider reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.02. CNO Financial Group had a negative net margin of 8.95% and a positive return on equity of 7.89%. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $999.03 million. During the same period last year, the firm earned $0.59 earnings per share. The company’s quarterly revenue was up 37.2% on a year-over-year basis. On average, equities analysts anticipate that CNO Financial Group will post 1.97 EPS for the current year.

In other news, EVP Bruce K. Baude sold 33,000 shares of the firm’s stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $22.17, for a total transaction of $731,610.00. Following the sale, the executive vice president now directly owns 52,047 shares in the company, valued at approximately $1,153,881.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.30% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. US Bancorp DE lifted its holdings 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 valued at $248,000 after buying an additional 2,722 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in CNO Financial Group during the second quarter worth about $264,000. Fox Run Management L.L.C. purchased a new position in CNO Financial Group during the third quarter worth about $266,000. Cim Investment Mangement Inc. purchased a new position in CNO Financial Group during the second quarter worth about $384,000. Finally, Xact Kapitalforvaltning AB boosted its stake in CNO Financial Group by 61.3% during the first quarter. Xact Kapitalforvaltning AB now owns 20,255 shares of the financial services provider’s stock worth $439,000 after buying an additional 7,700 shares during the period. 92.49% of the stock is owned by institutional investors.

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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Analyst Recommendations for CNO Financial Group (NYSE:CNO)

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