CNO Financial Group (NYSE:CNO) Raised to Buy at Wall Street Zen

Wall Street Zen upgraded shares of CNO Financial Group (NYSE:CNO) from a hold rating to a buy rating in a report released on Friday morning.

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of CNO Financial Group in a research note on Saturday, September 27th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, CNO Financial Group currently has an average rating of “Moderate Buy” and a consensus target price of $43.40.

CNO Financial Group Trading Up 0.9%

CNO Financial Group stock opened at $39.56 on Friday. The firm has a 50 day simple moving average of $38.59 and a 200-day simple moving average of $38.39. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.17 and a quick ratio of 0.17. The stock has a market capitalization of $3.83 billion, a PE ratio of 14.60 and a beta of 0.90. CNO Financial Group has a 12-month low of $33.85 and a 12-month high of $43.20.

CNO Financial Group (NYSE:CNO) last posted its quarterly earnings data on Monday, July 28th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. CNO Financial Group had a net margin of 6.41% and a return on equity of 16.63%. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $971.25 million. During the same period last year, the firm posted $1.06 earnings per share. As a group, equities research analysts expect that CNO Financial Group will post 3.83 EPS for the current fiscal year.

CNO Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 24th. Investors of record on Wednesday, September 10th were paid a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $0.68 dividend on an annualized basis and a yield of 1.7%. CNO Financial Group’s dividend payout ratio (DPR) is currently 25.09%.

Insider Buying and Selling

In related news, insider Michael E. Mead sold 12,581 shares of the firm’s stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $37.97, for a total value of $477,700.57. Following the completion of the transaction, the insider owned 15,729 shares of the company’s stock, valued at approximately $597,230.13. This trade represents a 44.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On CNO Financial Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its position in CNO Financial Group by 5.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,701 shares of the financial services provider’s stock worth $571,000 after buying an additional 744 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in CNO Financial Group by 15.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 772,371 shares of the financial services provider’s stock worth $32,424,000 after buying an additional 100,735 shares in the last quarter. GAMMA Investing LLC lifted its position in CNO Financial Group by 25.0% in the 1st quarter. GAMMA Investing LLC now owns 2,861 shares of the financial services provider’s stock worth $119,000 after buying an additional 572 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in CNO Financial Group by 42.0% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 8,471 shares of the financial services provider’s stock worth $353,000 after buying an additional 2,507 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in CNO Financial Group in the 1st quarter worth approximately $806,000. Institutional investors and hedge funds own 95.43% of the company’s stock.

CNO Financial Group Company Profile

CNO Financial Group, Inc, through its subsidiaries, develops, markets, and administers health insurance, annuity, individual life insurance, insurance products, and financial services for senior and middle-income markets in the United States. It offers Medicare supplement, supplemental health, and long-term care insurance policies; life insurance; and annuities, as well as Medicare advantage plans to individuals through phone, online, mail, and face-to-face.