Zacks Investment Research lowered shares of CNO Financial Group (NYSE:CNO) from a buy rating to a hold rating in a research report released on Friday morning.
According to Zacks, “CNO Financial’s shares have outperformed the industry in a year’s time. The company’s Washington National segment has been boosting the top line. Solid liquidity has supported investment in key initiatives. In addition, the company is strategizing to reduce a long-term care exposure via run-off of existing non-performing businesses and increasing focus on growth of other potential business lines. Strong capital management supports its long-term growth. The company has seen the Zacks Consensus Estimate for 2018 earnings being revised upward in the last 60 days. However, the company suffers from a high level of debt. This has also led to a significant increase in interest expenses that has been putting pressure on the bottom line.”
CNO has been the topic of several other reports. ValuEngine cut CNO Financial Group from a buy rating to a hold rating in a report on Thursday, March 1st. Wells Fargo set a $25.00 price objective on CNO Financial Group and gave the stock a hold rating in a report on Tuesday, February 13th. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $24.00 price objective on shares of CNO Financial Group in a report on Thursday, December 21st. Finally, William Blair began coverage on CNO Financial Group in a report on Monday, March 12th. They set an outperform rating on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. CNO Financial Group has an average rating of Buy and a consensus target price of $24.17.
CNO Financial Group (NYSE:CNO) last issued its quarterly earnings data on Tuesday, February 13th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.20. The business had revenue of $1.09 billion for the quarter. CNO Financial Group had a return on equity of 6.63% and a net margin of 4.09%. equities analysts forecast that CNO Financial Group will post 2.03 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 23rd. Investors of record on Friday, March 9th were issued a dividend of $0.09 per share. The ex-dividend date was Thursday, March 8th. This represents a $0.36 annualized dividend and a yield of 1.64%. CNO Financial Group’s payout ratio is presently 17.82%.
Large investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. raised its holdings in CNO Financial Group by 114.1% during the 4th quarter. Meeder Asset Management Inc. now owns 6,084 shares of the financial services provider’s stock valued at $150,000 after buying an additional 3,243 shares during the period. Connable Office Inc. purchased a new stake in CNO Financial Group during the 4th quarter valued at $205,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in CNO Financial Group by 50.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,461 shares of the financial services provider’s stock valued at $258,000 after buying an additional 3,485 shares during the period. Zeke Capital Advisors LLC purchased a new stake in CNO Financial Group during the 4th quarter valued at $266,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in CNO Financial Group during the 3rd quarter valued at $292,000. Institutional investors own 97.09% of the company’s stock.
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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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