CNO Financial Group, Inc. (CNO) – What Are Brokerages Thinking About This Stock?

Shares of CNO Financial Group, Inc. (NYSE:CNO) have earned an average recommendation of “Moderate Buy” from the five brokerages that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $56.00.

Several equities analysts have recently issued reports on CNO shares. Wall Street Zen raised shares of CNO Financial Group from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Keefe, Bruyette & Woods increased their price objective on shares of CNO Financial Group from $53.00 to $57.00 and gave the stock a “market perform” rating in a report on Monday, August 3rd. Weiss Ratings raised CNO Financial Group from a “buy (b+)” rating to a “buy (a)” rating in a report on Thursday, October 8th. Capital One Financial set a $70.00 price target on CNO Financial Group in a research note on Wednesday, August 26th. Finally, Jefferies Financial Group lowered shares of CNO Financial Group from a “buy” rating to a “hold” rating and increased their target price for the company from $53.00 to $55.00 in a research report on Friday, July 10th.

CNO Financial Group Stock Down 1.2%

CNO stock opened at $54.06 on Tuesday. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.17 and a quick ratio of 0.17. CNO Financial Group has a 1-year low of $38.99 and a 1-year high of $57.59. The firm has a fifty day moving average price of $54.45 and a two-hundred day moving average price of $50.71. The firm has a market cap of $5.00 billion, a price-to-earnings ratio of 18.58 and a beta of 0.80.

CNO Financial Group (NYSE:CNO) last issued its earnings results on Thursday, July 30th. The financial services provider reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.29. CNO Financial Group had a net margin of 6.02% and a return on equity of 18.76%. The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $999.45 million. During the same period in the prior year, the company earned $0.87 earnings per share. The firm’s revenue was up 11.6% compared to the same quarter last year. Research analysts predict that CNO Financial Group will post 4.74 EPS for the current year.

CNO Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Thursday, September 10th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Thursday, September 10th. CNO Financial Group’s dividend payout ratio is currently 24.74%.

Insider Transactions at CNO Financial Group

In other news, insider Jeanne L. Linnenbringer sold 6,560 shares of the firm’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $54.99, for a total value of $360,734.40. Following the sale, the insider owned 34,188 shares in the company, valued at approximately $1,879,998.12. This trade represents a 16.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Karen J. Detoro sold 9,374 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $54.98, for a total value of $515,382.52. Following the sale, the insider owned 44,250 shares in the company, valued at approximately $2,432,865. This represents a 17.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 47,995 shares of company stock valued at $2,641,336. 3.44% of the stock is owned by insiders.

Institutional Investors Weigh In On CNO Financial Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CNO. Louisiana State Employees Retirement System purchased a new position in CNO Financial Group in the 1st quarter worth $1,125,000. Callan Family Office LLC bought a new stake in CNO Financial Group in the second quarter valued at approximately $1,089,000. BlackRock Inc. bought a new position in shares of CNO Financial Group in the second quarter worth approximately $682,433,000. Deutsche Bank AG bought a new position in shares of CNO Financial Group in the second quarter worth approximately $6,545,000. Finally, Hsbc Holdings PLC raised its holdings in CNO Financial Group by 102.1% during the 4th quarter. Hsbc Holdings PLC now owns 45,025 shares of the financial services provider’s stock valued at $1,914,000 after buying an additional 22,749 shares during the last quarter. Institutional investors and hedge funds own 95.43% of the company’s stock.

CNO Financial Group Company Profile

CNO Financial Group, Inc is a holding company for a group of insurance and financial services businesses focused on serving middle-income Americans, particularly individuals approaching or in retirement. Through its operating companies, CNO provides products designed to help customers protect income, manage health care expenses and prepare for retirement.

CNO’s principal brands include Bankers Life, Colonial Penn and Washington National. Its offerings include life insurance, annuities, supplemental health insurance, Medicare supplement insurance and other insurance products.