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.
WARNING: This story was originally posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this story on another site, it was stolen and republished in violation of U.S. & international trademark & copyright laws. The original version of this story can be viewed at https://www.dispatchtribunal.com/2018/12/06/cno-financial-group-cno-shares-down-5-9.html.
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.
Featured Story: How Important is Technical Analysis of Stocks
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.