CNO Financial Group (NYSE:CNO) Rating Lowered to “Hold” at Jefferies Financial Group

CNO Financial Group (NYSE:CNO) was downgraded by stock analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, Marketbeat reports. They currently have a $55.00 target price on the financial services provider’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 4.00% from the stock’s current price.

A number of other analysts have also recently commented on the stock. Keefe, Bruyette & Woods upped their price target on shares of CNO Financial Group from $46.00 to $50.00 and gave the company a “market perform” rating in a research note on Tuesday, May 5th. Wall Street Zen lowered shares of CNO Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Weiss Ratings reissued a “buy (b)” rating on shares of CNO Financial Group in a report on Monday, April 20th. Finally, Evercore set a $48.00 target price on CNO Financial Group and gave the stock an “in-line” rating in a research report on Monday, June 1st. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $50.75.

CNO Financial Group Price Performance

Shares of NYSE:CNO opened at $52.88 on Friday. The firm has a market capitalization of $4.94 billion, a PE ratio of 21.24 and a beta of 0.81. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 1.61. The company has a 50-day moving average price of $48.81 and a two-hundred day moving average price of $44.50. CNO Financial Group has a twelve month low of $35.24 and a twelve month high of $53.55.

Insider Buying and Selling

In related news, CEO Gary C. Bhojwani sold 86,048 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $51.48, for a total transaction of $4,429,751.04. Following the sale, the chief executive officer owned 174,264 shares of the company’s stock, valued at approximately $8,971,110.72. This represents a 33.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Rocco F. Tarasi III sold 5,750 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $50.00, for a total transaction of $287,500.00. Following the sale, the chief marketing officer directly owned 79,191 shares in the company, valued at $3,959,550. This trade represents a 6.77% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 95,106 shares of company stock valued at $4,879,343 over the last 90 days. 3.44% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Richardson Financial Services Inc. bought a new position in shares of CNO Financial Group in the fourth quarter worth $37,000. EverSource Wealth Advisors LLC grew its position in CNO Financial Group by 123.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,176 shares of the financial services provider’s stock worth $45,000 after buying an additional 649 shares in the last quarter. Bessemer Group Inc. grew its position in CNO Financial Group by 75.4% during the first quarter. Bessemer Group Inc. now owns 1,133 shares of the financial services provider’s stock worth $46,000 after buying an additional 487 shares in the last quarter. Osaic Holdings Inc. increased its stake in CNO Financial Group by 39.2% in the 2nd quarter. Osaic Holdings Inc. now owns 1,194 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 336 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of CNO Financial Group by 72.0% in the 2nd quarter. Versant Capital Management Inc now owns 1,132 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 474 shares in the last quarter. 95.43% of the stock is currently owned by hedge funds and other institutional investors.

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.