CNO Financial Group Inc (NYSE:CNO) Receives $21.75 Average Price Target from Brokerages

CNO Financial Group Inc (NYSE:CNO) has been given a consensus recommendation of “Hold” by the seven research firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $21.75.

A number of equities analysts have issued reports on the company. Guggenheim cut CNO Financial Group to a “hold” rating and set a $29.00 target price for the company. in a report on Friday, November 15th. ValuEngine cut CNO Financial Group from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Zacks Investment Research raised CNO Financial Group from a “sell” rating to a “hold” rating and set a $20.00 target price for the company in a report on Wednesday, December 18th. Citigroup lowered their target price on CNO Financial Group from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Finally, TheStreet raised CNO Financial Group from a “c+” rating to a “b-” rating in a report on Tuesday, November 26th.

Shares of NYSE:CNO traded up $0.02 during trading on Friday, reaching $17.96. 11,729 shares of the company traded hands, compared to its average volume of 1,169,991. The company’s 50 day moving average is $18.18 and its two-hundred day moving average is $16.50. The firm has a market capitalization of $2.70 billion, a PE ratio of 9.79 and a beta of 1.28. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.58. CNO Financial Group has a 52 week low of $14.01 and a 52 week high of $19.30.

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

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 10th were paid a $0.11 dividend. The ex-dividend date was Monday, December 9th. This represents a $0.44 annualized dividend and a dividend yield of 2.45%. CNO Financial Group’s payout ratio is 24.04%.

In other news, insider Joel H. Schwartz sold 1,717 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $18.21, for a total value of $31,266.57. Following the completion of the sale, the insider now owns 23,603 shares of the company’s stock, valued at $429,810.63. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNO. Northern Trust Corp lifted its holdings 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 period. Paradice Investment Management LLC increased its position in shares of CNO Financial Group by 11.0% during the 3rd quarter. Paradice Investment Management LLC now owns 5,560,289 shares of the financial services provider’s stock worth $88,019,000 after purchasing an additional 552,200 shares during the last quarter. CNA Financial Corp lifted its position in shares of CNO Financial Group by 2.8% during the 3rd quarter. CNA Financial Corp now owns 114,459 shares of the financial services provider’s stock valued at $1,812,000 after acquiring an additional 3,100 shares during the period. Millennium Management LLC lifted its position in shares of CNO Financial Group by 291.4% during the 3rd quarter. Millennium Management LLC now owns 1,652,253 shares of the financial services provider’s stock valued at $26,155,000 after acquiring an additional 1,230,122 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position in shares of CNO Financial Group by 105.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 8,584 shares of the financial services provider’s stock valued at $136,000 after acquiring an additional 4,413 shares during the period. 97.37% of the stock is owned by institutional investors and hedge funds.

About CNO Financial Group

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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