According to Zacks, “CNO Financial 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. Nevertheless, low market share in some product lines might limit business opportunities and leave an adverse impact on profitability. Also the suspension of sharebuyback plan for this year will affect the botomline.”
CNO has been the topic of several other research reports. Deutsche Bank AG set a $16.00 price target on CNO Financial Group and gave the company a hold rating in a research note on Friday, September 30th. Keefe, Bruyette & Woods cut their price objective on CNO Financial Group from $20.00 to $19.00 and set a market perform rating on the stock in a report on Tuesday, August 2nd. Goldman Sachs Group Inc. downgraded CNO Financial Group from a buy rating to a neutral rating and cut their price objective for the company from $21.00 to $17.00 in a report on Friday, September 30th. Wells Fargo & Co. assumed coverage on CNO Financial Group in a report on Thursday, September 22nd. They issued an outperform rating on the stock. Finally, Morgan Stanley reiterated a hold rating and issued a $19.00 price objective on shares of CNO Financial Group in a report on Thursday, July 28th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. CNO Financial Group presently has an average rating of Hold and an average price target of $18.85.
Shares of CNO Financial Group (NYSE:CNO) opened at 15.76 on Monday. The firm has a 50-day moving average price of $15.67 and a 200 day moving average price of $17.54. CNO Financial Group has a one year low of $14.30 and a one year high of $20.88. The firm has a market cap of $2.76 billion, a P/E ratio of 10.59 and a beta of 1.23.
CNO Financial Group (NYSE:CNO) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.35 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.35. CNO Financial Group had a return on equity of 5.68% and a net margin of 7.20%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $961.56 million. During the same quarter in the prior year, the company posted $0.34 EPS. The company’s quarterly revenue was up 4.6% on a year-over-year basis. On average, analysts forecast that CNO Financial Group will post $1.35 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 9th were issued a $0.08 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.03%. CNO Financial Group’s payout ratio is currently 21.48%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CNO. Seven Eight Capital LLC acquired a new position in CNO Financial Group during the first quarter worth approximately $102,000. Cantab Capital Partners LLP acquired a new position in CNO Financial Group during the second quarter worth approximately $146,000. World Asset Management Inc acquired a new position in CNO Financial Group during the second quarter worth approximately $175,000. Zacks Investment Management acquired a new position in CNO Financial Group during the second quarter worth approximately $179,000. Finally, LS Investment Advisors LLC increased its position in CNO Financial Group by 74.4% in the second quarter. LS Investment Advisors LLC now owns 10,740 shares of the company’s stock worth $188,000 after buying an additional 4,580 shares during the last quarter. Institutional investors and hedge funds own 97.67% of the company’s stock.
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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