CNO Financial Group (CNO) Sees Large Volume Increase

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Shares of CNO Financial Group Inc (NYSE:CNO) saw unusually-high trading volume on Friday . Approximately 2,590,735 shares traded hands during trading, an increase of 130% from the previous session’s volume of 1,124,552 shares.The stock last traded at $16.83 and had previously closed at $16.54.

CNO has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded shares of CNO Financial Group from a “hold” rating to a “sell” rating in a report on Tuesday, January 15th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $22.00 price target on shares of CNO Financial Group in a report on Monday, December 17th. ValuEngine downgraded shares of CNO Financial Group from a “sell” rating to a “strong sell” rating in a report on Monday, February 25th. Finally, Evercore ISI raised shares of CNO Financial Group from an “in-line” rating to an “outperform” rating in a report on Wednesday, January 9th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $21.50.

The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of 9.20 and a beta of 1.31.

CNO Financial Group (NYSE:CNO) last released its quarterly earnings data on Tuesday, February 12th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.14). The company had revenue of $778.20 million for the quarter, compared to analyst estimates of $981.90 million. CNO Financial Group had a positive return on equity of 7.57% and a negative net margin of 7.30%. CNO Financial Group’s revenue for the quarter was down 28.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.51 earnings per share. On average, equities analysts predict that CNO Financial Group Inc will post 2.12 earnings per share for the current year.

The business also recently disclosed 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. This represents a $0.40 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Friday, March 8th. CNO Financial Group’s dividend payout ratio is 21.86%.

In related news, Director Stephen N. David acquired 3,000 shares of the stock in a transaction that occurred on Wednesday, December 26th. The stock was acquired at an average cost of $13.85 per share, for a total transaction of $41,550.00. Following the transaction, the director now directly owns 23,206 shares in the company, valued at $321,403.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.30% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. JOYN Advisors Inc. increased its position in CNO Financial Group by 447.9% during the 4th quarter. JOYN Advisors Inc. now owns 1,967 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 1,608 shares in the last quarter. Advisors Preferred LLC acquired a new position in CNO Financial Group during the 4th quarter worth approximately $64,000. Oregon Public Employees Retirement Fund increased its position in CNO Financial Group by 1,388.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 982,214 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 916,205 shares in the last quarter. Amundi Pioneer Asset Management Inc. acquired a new position in CNO Financial Group during the 4th quarter worth approximately $91,000. Finally, Quantamental Technologies LLC acquired a new position in CNO Financial Group in the 4th quarter valued at approximately $139,000. Institutional investors and hedge funds own 93.39% of the company’s stock.

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CNO Financial Group Company Profile (NYSE:CNO)

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.

Read More: Net Margin

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