CNO Financial Group Inc (NYSE:CNO) – Stock analysts at B. Riley decreased their FY2019 earnings estimates for shares of CNO Financial Group in a research report issued to clients and investors on Thursday, February 14th, Zacks Investment Research reports. B. Riley analyst R. Binner now forecasts that the financial services provider will post earnings of $2.15 per share for the year, down from their prior estimate of $2.25. B. Riley also issued estimates for CNO Financial Group’s FY2020 earnings at $2.50 EPS.
A number of other research analysts have also issued reports on CNO. ValuEngine upgraded shares of CNO Financial Group from a “strong sell” rating to a “sell” rating in a research note on Monday, November 12th. Keefe, Bruyette & Woods restated a “hold” rating and set a $22.00 price target on shares of CNO Financial Group in a research note on Monday, December 17th. Zacks Investment Research upgraded shares of CNO Financial Group from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Thursday, January 3rd. Finally, Evercore ISI upgraded shares of CNO Financial Group from an “in-line” rating to an “outperform” rating in a research note on Wednesday, January 9th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. CNO Financial Group has an average rating of “Hold” and a consensus price target of $21.50.
CNO Financial Group stock traded down $0.03 during mid-day trading on Friday, reaching $16.37. 771,044 shares of the company traded hands, compared to its average volume of 1,109,458. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.76. CNO Financial Group has a fifty-two week low of $13.64 and a fifty-two week high of $23.13. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of 8.95 and a beta of 1.36.
CNO Financial Group (NYSE:CNO) last posted its earnings results on Tuesday, February 12th. The financial services provider reported $0.36 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.14). CNO Financial Group had a negative net margin of 7.30% and a positive return on equity of 7.57%. The firm had revenue of $778.20 million for the quarter, compared to analysts’ expectations of $981.90 million. During the same period in the previous year, the company earned $0.51 EPS. The company’s revenue was down 28.6% on a year-over-year basis.
A number of institutional investors and hedge funds have recently bought and sold shares of CNO. BlackRock Inc. lifted its holdings in CNO Financial Group by 17.0% during the third quarter. BlackRock Inc. now owns 19,514,213 shares of the financial services provider’s stock valued at $414,094,000 after purchasing an additional 2,839,109 shares in the last quarter. Norges Bank purchased a new position in CNO Financial Group during the fourth quarter valued at $39,053,000. Oregon Public Employees Retirement Fund lifted its holdings in CNO Financial Group by 1,388.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 982,214 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 916,205 shares in the last quarter. Man Group plc lifted its holdings in CNO Financial Group by 295.6% during the third quarter. Man Group plc now owns 958,378 shares of the financial services provider’s stock valued at $20,337,000 after purchasing an additional 716,133 shares in the last quarter. Finally, Prudential Financial Inc. lifted its holdings in CNO Financial Group by 48.0% during the fourth quarter. Prudential Financial Inc. now owns 2,195,402 shares of the financial services provider’s stock valued at $32,668,000 after purchasing an additional 712,068 shares in the last quarter. 93.71% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Stephen N. David purchased 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 26th. The shares were bought at an average price of $13.85 per share, for a total transaction of $41,550.00. Following the completion of the transaction, the director now owns 23,206 shares in the company, valued at $321,403.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.30% of the stock is currently owned by company insiders.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 25th. Investors of record on Monday, March 11th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, March 8th. This represents a $0.40 annualized dividend and a yield of 2.44%. CNO Financial Group’s dividend payout ratio is presently 21.86%.
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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