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

Key Points

• Jefferies Financial Group downgraded CNO Financial Group from Buy to Hold but kept a $55 price target, implying about 4% upside from the prior close.
• Broader analyst sentiment on CNO is mixed, with several firms recently adjusting ratings and the stock now carrying an overall Hold consensus and an average $50.75 price target.
• CNO shares were trading near their 52-week high at $52.88, while insiders have recently sold stock, including the CEO and CMO in Rule 10b5-1 transactions.

CNO Financial Group (NYSE:CNO - Get Free Report) was downgraded by Jefferies Financial Group from a "buy" rating to a "hold" rating in a research note issued on Friday, Marketbeat reports. They presently have a $55.00 price target on the financial services provider's stock. Jefferies Financial Group's price target points to a potential upside of 4.00% from the company's previous close.

Several other brokerages also recently issued reports on CNO. Evercore set a $48.00 price target on CNO Financial Group and gave the stock an "in-line" rating in a report on Monday, June 1st. Wall Street Zen downgraded shares of CNO Financial Group from a "buy" rating to a "hold" rating in a report on Saturday, March 28th. Keefe, Bruyette & Woods upped their target price on shares of CNO Financial Group from $46.00 to $50.00 and gave the stock a "market perform" rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of CNO Financial Group in a report on Monday, April 20th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, CNO Financial Group presently has an average rating of "Hold" and an average price target of $50.75.

CNO Financial Group Stock Performance

Shares of CNO Financial Group stock opened at $52.88 on Friday. The company has a market cap of $4.94 billion, a PE ratio of 21.24 and a beta of 0.81. CNO Financial Group has a 52 week low of $35.24 and a 52 week high of $53.55. The business has a 50 day moving average price of $48.81 and a 200-day moving average price of $44.50. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 1.61.

Insider Buying and Selling at CNO Financial Group

In other CNO Financial Group news, CMO Rocco F. Tarasi III sold 5,750 shares of the business's stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $50.00, for a total value of $287,500.00. Following the transaction, the chief marketing officer owned 79,191 shares of the company's stock, valued at approximately $3,959,550. The trade was a 6.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gary C. Bhojwani sold 86,048 shares of the firm's stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $51.48, for a total value of $4,429,751.04. Following the sale, the chief executive officer directly owned 174,264 shares of the company's stock, valued at approximately $8,971,110.72. This represents a 33.06% 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. In the last three months, insiders sold 95,106 shares of company stock worth $4,879,343. Insiders own 3.44% of the company's stock.

Institutional Trading of CNO Financial Group

Several hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. increased its stake in shares of CNO Financial Group by 1.0% during the 3rd quarter. Franklin Resources Inc. now owns 4,302,316 shares of the financial services provider's stock worth $170,157,000 after purchasing an additional 42,467 shares during the last quarter. Pzena Investment Management LLC lifted its stake in CNO Financial Group by 0.3% in the first quarter. Pzena Investment Management LLC now owns 2,470,921 shares of the financial services provider's stock valued at $101,456,000 after purchasing an additional 8,053 shares during the last quarter. Morgan Stanley grew its holdings in CNO Financial Group by 20.5% during the fourth quarter. Morgan Stanley now owns 1,870,982 shares of the financial services provider's stock valued at $79,461,000 after purchasing an additional 317,690 shares during the period. Principal Financial Group Inc. grew its holdings in CNO Financial Group by 8.3% during the first quarter. Principal Financial Group Inc. now owns 1,492,497 shares of the financial services provider's stock valued at $61,282,000 after purchasing an additional 114,000 shares during the period. Finally, AQR Capital Management LLC increased its position in CNO Financial Group by 35.6% in the fourth quarter. AQR Capital Management LLC now owns 1,218,033 shares of the financial services provider's stock worth $51,730,000 after buying an additional 319,795 shares during the last quarter. Institutional investors own 95.43% of the company's stock.

CNO Financial Group Company Profile

CNO Financial Group is an Indiana‐based holding company that offers a range of insurance and retirement solutions through its operating subsidiaries. Its primary business activities include life insurance, annuities, and supplemental health insurance products designed to help individuals plan for retirement and manage health‐related expenses. The company serves middle‐income Americans, with particular emphasis on senior customers seeking guaranteed coverage and reliable income streams.

Originally founded as Conseco in 1979, the company underwent a financial restructuring and rebranded as CNO Financial Group in 2010.

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