CNO Financial Group (NYSE:CNO) Stock Rating Raised to Strong-Buy at Zacks Research

Key Points

• Zacks Research upgraded CNO Financial Group to “strong buy” from “hold.” The broader analyst consensus is “moderate buy,” with an average price target of $56.00.
• CNO shares opened at $55.41, near their 52-week high of $57.59. The company’s latest quarterly results exceeded expectations, with EPS of $1.26 versus the $0.97 consensus and revenue rising 11.6% year over year to $1.29 billion.
• Insiders sold 47,995 shares worth approximately $2.64 million over the past 90 days under pre-arranged trading plans, while institutional investors collectively own 95.43% of the company’s stock.

CNO Financial Group (NYSE:CNO - Get Free Report) was upgraded by stock analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued on Tuesday, Zacks reports.

CNO has been the subject of several other research reports. Keefe, Bruyette & Woods boosted their target price on CNO Financial Group from $53.00 to $57.00 and gave the stock a "market perform" rating in a research note on Monday, August 3rd. Capital One Financial set a $70.00 target price on shares of CNO Financial Group in a report on Wednesday, August 26th. Jefferies Financial Group downgraded shares of CNO Financial Group from a "buy" rating to a "hold" rating and raised their price target for the company from $53.00 to $55.00 in a research note on Friday, July 10th. Wall Street Zen upgraded shares of CNO Financial Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Finally, Weiss Ratings raised shares of CNO Financial Group from a "buy (b+)" rating to a "buy (a)" rating in a report on Thursday, October 8th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $56.00.

CNO Financial Group Trading Up 1.0%

Shares of CNO stock opened at $55.41 on Tuesday. The stock's fifty day moving average price is $54.47 and its two-hundred day moving average price is $50.91. The company has a market cap of $5.13 billion, a PE ratio of 19.04 and a beta of 0.80. CNO Financial Group has a fifty-two week low of $38.99 and a fifty-two week high of $57.59. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.17 and a current ratio of 0.17.

CNO Financial Group (NYSE:CNO - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.26 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.29. CNO Financial Group had a return on equity of 18.76% and a net margin of 6.02%. The company had revenue of $1.29 billion during the quarter, compared to analysts' expectations of $999.45 million. During the same quarter in the previous year, the firm earned $0.87 EPS. CNO Financial Group's revenue was up 11.6% on a year-over-year basis. Equities analysts predict that CNO Financial Group will post 4.74 EPS for the current fiscal year.

Insider Transactions at CNO Financial Group

In related news, insider Jeremy Williams sold 4,420 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $55.27, for a total value of $244,293.40. Following the completion of the sale, the insider directly owned 62,163 shares in the company, valued at $3,435,749.01. This represents a 6.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeanne Linnenbringer sold 6,560 shares of CNO Financial Group stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $54.99, for a total value of $360,734.40. Following the completion of the transaction, the insider directly owned 34,188 shares in the company, valued at approximately $1,879,998.12. This represents a 16.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 47,995 shares of company stock worth $2,641,336. Company insiders own 3.44% of the company's stock.

Institutional Trading of CNO Financial Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Fortitude Family Office LLC increased its stake in CNO Financial Group by 156.9% in the 3rd quarter. Fortitude Family Office LLC now owns 483 shares of the financial services provider's stock valued at $26,000 after buying an additional 295 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of CNO Financial Group by 38.4% in the 2nd quarter. IFP Advisors Inc now owns 713 shares of the financial services provider's stock worth $36,000 after purchasing an additional 198 shares during the period. Nykredit A S bought a new stake in shares of CNO Financial Group in the 2nd quarter worth approximately $39,000. Versant Capital Management Inc lifted its stake in CNO Financial Group by 72.0% in the second quarter. Versant Capital Management Inc now owns 1,132 shares of the financial services provider's stock valued at $58,000 after purchasing an additional 474 shares during the last quarter. Finally, Bessemer Group Inc. lifted its stake in CNO Financial Group by 75.4% in the first quarter. Bessemer Group Inc. now owns 1,133 shares of the financial services provider's stock valued at $46,000 after purchasing an additional 487 shares during the last quarter. 95.43% of the stock is owned by hedge funds and other institutional investors.

About CNO Financial Group

CNO Financial Group, Inc is a holding company for a group of insurance and financial services businesses focused on serving middle-income Americans, particularly individuals approaching or in retirement. Through its operating companies, CNO provides products designed to help customers protect income, manage health care expenses and prepare for retirement.

CNO's principal brands include Bankers Life, Colonial Penn and Washington National. Its offerings include life insurance, annuities, supplemental health insurance, Medicare supplement insurance and other insurance products.

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