CNO Financial Group (NYSE:CNO) Cut to Hold at Guggenheim

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CNO Financial Group (NYSE:CNO) was downgraded by equities research analysts at Guggenheim to a “hold” rating in a note issued to investors on Friday, TipRanks reports. They presently have a $29.00 price objective on the financial services provider’s stock. Guggenheim’s price target indicates a potential upside of 57.61% from the company’s current price.

Other analysts also recently issued reports about the company. Zacks Investment Research downgraded CNO Financial Group from a “hold” rating to a “sell” rating and set a $17.00 price target for the company. in a research report on Thursday, September 12th. ValuEngine downgraded CNO Financial Group from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Finally, Citigroup decreased their price target on CNO Financial Group from $18.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, September 13th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $21.00.

Shares of CNO traded up $0.87 on Friday, reaching $18.40. 1,291,096 shares of the company’s stock traded hands, compared to its average volume of 1,063,627. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.58. The stock has a market cap of $2.67 billion, a PE ratio of 10.05 and a beta of 1.22. The stock’s 50 day simple moving average is $15.86 and its two-hundred day simple moving average is $16.03. CNO Financial Group has a 52-week low of $13.64 and a 52-week high of $18.79.

CNO Financial Group (NYSE:CNO) last issued its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $0.45 EPS for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.02). The business had revenue of $944.00 million for the quarter, compared to analysts’ expectations of $953.60 million. CNO Financial Group had a net margin of 4.29% and a return on equity of 6.77%. The business’s revenue was down 36.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.53 earnings per share. Analysts forecast that CNO Financial Group will post 1.84 earnings per share for the current year.

In other CNO Financial Group news, Director Frederick James Sievert sold 9,415 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $15.94, for a total transaction of $150,075.10. Following the completion of the transaction, the director now directly owns 65,555 shares of the company’s stock, valued at $1,044,946.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.50% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rockefeller Capital Management L.P. grew its holdings in CNO Financial Group by 206.0% during the second quarter. Rockefeller Capital Management L.P. now owns 1,888 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 1,271 shares during the period. Point72 Hong Kong Ltd grew its holdings in CNO Financial Group by 32.3% during the second quarter. Point72 Hong Kong Ltd now owns 3,192 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 779 shares during the period. Tower Research Capital LLC TRC grew its holdings in CNO Financial Group by 105.8% during the third quarter. Tower Research Capital LLC TRC now owns 8,584 shares of the financial services provider’s stock valued at $136,000 after purchasing an additional 4,413 shares during the period. CWM Advisors LLC bought a new position in shares of CNO Financial Group in the second quarter worth $176,000. Finally, Fox Run Management L.L.C. bought a new position in shares of CNO Financial Group in the third quarter worth $172,000. 97.67% of the stock is owned by institutional investors and hedge funds.

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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