CNO Financial Group (CNO) Shares Down 5.9%

CNO Financial Group Inc (NYSE:CNO)’s share price was down 5.9% during trading on Wednesday . The stock traded as low as $17.12 and last traded at $17.15. Approximately 2,112,357 shares traded hands during mid-day trading, an increase of 129% from the average daily volume of 923,703 shares. The stock had previously closed at $18.23.

Several equities analysts recently commented on CNO shares. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $24.00 price objective on shares of CNO Financial Group in a research note on Friday, August 17th. Zacks Investment Research upgraded CNO Financial Group from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Wednesday, October 3rd. ValuEngine downgraded CNO Financial Group from a “sell” rating to a “strong sell” rating in a research note on Friday, November 2nd. Finally, TheStreet downgraded CNO Financial Group from a “b” rating to a “c” rating in a research note on Thursday, November 1st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $23.75.

The company has a debt-to-equity ratio of 0.71, a current ratio of 0.26 and a quick ratio of 0.26. The company has a market cap of $3.01 billion, a P/E ratio of 8.49 and a beta of 1.11.

CNO Financial Group (NYSE:CNO) last posted its quarterly earnings data on Wednesday, October 31st. The financial services provider reported $0.53 EPS for the quarter, beating the consensus estimate of $0.51 by $0.02. CNO Financial Group had a positive return on equity of 7.89% and a negative net margin of 8.95%. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $999.03 million. During the same quarter in the prior year, the business earned $0.59 earnings per share. CNO Financial Group’s revenue for the quarter was up 37.2% on a year-over-year basis. Analysts expect that CNO Financial Group Inc will post 1.99 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 24th. Investors of record on Monday, December 10th will be paid a $0.10 dividend. The ex-dividend date is Friday, December 7th. This represents a $0.40 annualized dividend and a yield of 2.33%. CNO Financial Group’s payout ratio is 19.80%.

In other CNO Financial Group news, EVP Matthew J. Zimpfer sold 17,417 shares of the business’s stock in a transaction on Monday, November 5th. The shares were sold at an average price of $18.46, for a total transaction of $321,517.82. Following the sale, the executive vice president now owns 137,580 shares of the company’s stock, valued at approximately $2,539,726.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen N. David bought 2,000 shares of the stock in a transaction on Monday, November 5th. The shares were acquired at an average cost of $18.50 per share, for a total transaction of $37,000.00. Following the acquisition, the director now directly owns 19,706 shares in the company, valued at $364,561. The disclosure for this purchase can be found here. Insiders own 2.30% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC raised its holdings in CNO Financial Group by 1,236.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 8,967 shares of the financial services provider’s stock valued at $190,000 after acquiring an additional 8,296 shares during the period. US Bancorp DE increased its holdings in shares of CNO Financial Group by 30.4% in the third 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 during the period. Raymond James Financial Services Advisors Inc. bought a new position in shares of CNO Financial Group in the second quarter worth $264,000. Fox Run Management L.L.C. bought a new position in shares of CNO Financial Group in the third quarter worth $266,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of CNO Financial Group by 58.9% in the third quarter. PNC Financial Services Group Inc. now owns 13,396 shares of the financial services provider’s stock worth $284,000 after purchasing an additional 4,966 shares during the period. 94.18% of the stock is currently owned by institutional investors and hedge funds.

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About CNO Financial Group (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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