Guggenheim Downgrades CNO Financial Group (NYSE:CNO) to Hold

CNO Financial Group (NYSE:CNO) was downgraded by equities research analysts at Guggenheim to a “hold” rating in a research note issued to investors on Friday, Stock Target Advisor reports. They presently have a $29.00 target price on the financial services provider’s stock. Guggenheim’s price objective indicates a potential upside of 58.64% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Citigroup cut their price objective on CNO Financial Group from $18.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. Zacks Investment Research downgraded CNO Financial Group from a “hold” rating to a “sell” rating and set a $17.00 price objective on the stock. in a report on Thursday, September 12th. Finally, ValuEngine downgraded CNO Financial Group from a “hold” rating to a “sell” rating in a report on Friday, November 1st. 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’s stock. The stock presently has an average rating of “Hold” and an average target price of $21.00.

Shares of CNO stock traded up $0.75 on Friday, hitting $18.28. The stock had a trading volume of 1,899,467 shares, compared to its average volume of 1,169,906. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.25 and a quick ratio of 0.25. The firm has a market capitalization of $2.65 billion, a P/E ratio of 10.31 and a beta of 1.22. CNO Financial Group has a 1 year low of $13.64 and a 1 year high of $18.79. The company’s 50 day moving average price is $15.91 and its 200-day moving average price is $16.04.

CNO Financial Group (NYSE:CNO) last posted its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.02). The firm had revenue of $944.00 million during 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%. CNO Financial Group’s quarterly revenue was down 36.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.53 EPS. On average, equities analysts forecast that CNO Financial Group will post 1.81 EPS for the current year.

In related news, Director Frederick James Sievert sold 9,415 shares of the business’s 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 approximately $1,044,946.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.50% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNO. Rockefeller Capital Management L.P. grew its stake in CNO Financial Group by 206.0% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 1,888 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 1,271 shares in the last quarter. Point72 Hong Kong Ltd grew its stake in CNO Financial Group by 32.3% during the 2nd quarter. Point72 Hong Kong Ltd now owns 3,192 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 779 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in CNO Financial Group by 105.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 8,584 shares of the financial services provider’s stock worth $136,000 after purchasing an additional 4,413 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in CNO Financial Group during the 3rd quarter worth $172,000. Finally, CWM Advisors LLC acquired a new position in CNO Financial Group during the 2nd quarter worth $176,000. 97.67% of the stock is owned by hedge funds and other institutional investors.

CNO Financial Group Company Profile

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.

Further Reading: Depreciation

Receive News & Ratings for CNO Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CNO Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.