CNO Financial Group (NYSE:CNO) Cut to Hold at Guggenheim

Guggenheim cut shares of CNO Financial Group (NYSE:CNO) to a hold rating in a research note released on Friday morning, Stock Target Advisor reports. The firm currently has $29.00 price objective on the financial services provider’s stock.

Several other analysts have also commented on the stock. ValuEngine lowered shares of CNO Financial Group from a hold rating to a sell rating in a research report on Friday, November 1st. Zacks Investment Research lowered shares of CNO Financial Group from a hold rating to a sell rating and set a $17.00 price target on the stock. in a research report on Thursday, September 12th. Finally, Citigroup lowered their price target on shares of CNO Financial Group from $18.00 to $17.00 and set a neutral rating on the stock in a research report on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. CNO Financial Group has an average rating of Hold and an average target price of $21.00.

Shares of CNO stock traded up $0.07 during trading hours on Friday, hitting $18.35. The company’s stock had a trading volume of 1,633,200 shares, compared to its average volume of 1,036,315. The business has a fifty day moving average of $15.91 and a 200-day moving average of $16.04. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of 10.03 and a beta of 1.22. CNO Financial Group has a twelve month low of $13.64 and a twelve month high of $18.63. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.58.

CNO Financial Group (NYSE:CNO) last released its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $0.45 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.02). The business had revenue of $944.00 million during the quarter, compared to analyst estimates of $953.60 million. CNO Financial Group had a net margin of 4.29% and a return on equity of 6.77%. The firm’s revenue for the quarter was down 36.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.53 earnings per share. On average, equities analysts expect that CNO Financial Group will post 1.81 EPS for the current fiscal year.

In related news, Director Frederick James Sievert sold 9,415 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $15.94, for a total transaction of $150,075.10. Following the sale, the director now owns 65,555 shares in the company, valued at $1,044,946.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Paradice Investment Management LLC boosted its position in CNO Financial Group by 11.0% during the third quarter. Paradice Investment Management LLC now owns 5,560,289 shares of the financial services provider’s stock worth $88,019,000 after acquiring an additional 552,200 shares during the last quarter. Northern Trust Corp boosted its position in CNO Financial Group by 0.8% during the second quarter. Northern Trust Corp now owns 4,307,615 shares of the financial services provider’s stock worth $71,851,000 after acquiring an additional 32,085 shares during the last quarter. Pzena Investment Management LLC boosted its position in CNO Financial Group by 60.3% during the second quarter. Pzena Investment Management LLC now owns 3,855,224 shares of the financial services provider’s stock worth $64,305,000 after acquiring an additional 1,450,851 shares during the last quarter. Citadel Advisors LLC boosted its position in CNO Financial Group by 106.9% during the second quarter. Citadel Advisors LLC now owns 2,853,670 shares of the financial services provider’s stock worth $47,599,000 after acquiring an additional 1,474,518 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its position in CNO Financial Group by 24.0% during the second quarter. Nuveen Asset Management LLC now owns 2,783,780 shares of the financial services provider’s stock worth $46,433,000 after acquiring an additional 539,021 shares during the last quarter. Hedge funds and other institutional investors own 96.43% of the company’s stock.

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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