According to Zacks, “CNO Financial’s low market share in some product lines might limit business opportunities and leave an adverse impact on profitability. Also the suspension of share buyback plan for this year might affect the bottom line. However, the company has been largely benefited by the Launch of new units like bankers Life Securities and Bankers Life Advisory Services that are likely to help the company in growing its retirement business. A strong capital position and efficient capital management via share buyback and dividend payout also work as strength. Technological advancement has helped the company to increase productivity, though the pressures of agent recruitment continue. The company is presently engaged in strategizing plans to reduce long-term care exposure via run-off of existing non performing businesses, reinsurance and focus on the growth of other potential business lines.”
A number of other research analysts also recently commented on the company. BTIG Research reaffirmed a buy rating on shares of CNO Financial Group in a report on Friday, July 15th. Keefe, Bruyette & Woods set a $17.00 target price on CNO Financial Group and gave the stock a hold rating in a report on Monday, October 3rd. Deutsche Bank AG reduced their target price on CNO Financial Group from $19.00 to $18.00 and set a hold rating on the stock in a report on Thursday, July 28th. Evercore ISI started coverage on CNO Financial Group in a report on Wednesday, July 6th. They set a hold rating and a $19.00 target price on the stock. Finally, Citigroup Inc. reduced their target price on CNO Financial Group from $21.00 to $20.00 and set a buy rating on the stock in a report on Thursday, July 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. CNO Financial Group has a consensus rating of Hold and an average price target of $18.85.
CNO Financial Group (NYSE:CNO) opened at 15.65 on Friday. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of 10.52 and a beta of 1.23. The company’s 50-day moving average price is $15.64 and its 200-day moving average price is $17.37. CNO Financial Group has a one year low of $14.30 and a one year high of $20.88.
CNO Financial Group (NYSE:CNO) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. CNO Financial Group had a return on equity of 5.68% and a net margin of 7.20%. The firm earned $1 billion during the quarter, compared to analyst estimates of $961.56 million. During the same quarter last year, the firm earned $0.34 EPS. CNO Financial Group’s quarterly revenue was up 4.6% on a year-over-year basis. On average, analysts anticipate that CNO Financial Group will post $1.34 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Friday, September 9th were paid a $0.08 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $0.32 dividend on an annualized basis and a yield of 2.04%. CNO Financial Group’s dividend payout ratio (DPR) is 21.48%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Aperio Group LLC boosted its position in shares of CNO Financial Group by 34.6% in the first quarter. Aperio Group LLC now owns 77,083 shares of the company’s stock worth $1,381,000 after buying an additional 19,814 shares during the period. Pacad Investment Ltd. purchased a new position in shares of CNO Financial Group during the first quarter worth about $401,000. Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of CNO Financial Group by 2.4% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 34,665 shares of the company’s stock worth $621,000 after buying an additional 800 shares during the period. Prudential Financial Inc. boosted its position in shares of CNO Financial Group by 328.5% in the first quarter. Prudential Financial Inc. now owns 513,414 shares of the company’s stock worth $9,200,000 after buying an additional 393,600 shares during the period. Finally, BlackRock Inc. boosted its position in shares of CNO Financial Group by 5.8% in the first quarter. BlackRock Inc. now owns 74,483 shares of the company’s stock worth $1,335,000 after buying an additional 4,106 shares during the period. 97.63% of the stock is currently owned by institutional investors and hedge funds.
About CNO Financial Group
CNO Financial Group, Inc is a holding company for a group of insurance companies operating across the United States that develop, market and administer health insurance, annuity, individual life insurance and other insurance products. It operates through three operating segments: Bankers Life, Washington National and Colonial Penn.
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