Zacks Investment Research Downgrades CNO Financial Group (CNO) to Sell

CNO Financial Group (NYSE:CNO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.

According to Zacks, “CNO Financial suffers from high level of debt. This has also led to a significant increase in interest expenses that has been putting pressure on the bottom line. The company has seen its Zacks Consensus Estimate for 2017 earnings being revised downward in the past 60 days. Although the shares have underperformed the industry year to date, its headwinds are going to affect the share price going forward. However, its Washington National segment has been boosting the top line. Solid liquidity has supported investment in key initiatives. In addition, it is strategizing to reduce long-term care exposure via run-off of existing non-performing businesses and increasing focus on growth of other potential business lines. Strong capital management supports its long-term growth.”

Other equities research analysts also recently issued reports about the company. Goldman Sachs Group assumed coverage on CNO Financial Group in a research report on Wednesday, October 18th. They issued a “neutral” rating and a $24.00 target price for the company. B. Riley restated a “buy” rating on shares of CNO Financial Group in a research report on Monday, November 6th. Wells Fargo & Co set a $22.00 target price on CNO Financial Group and gave the stock a “hold” rating in a research report on Wednesday, October 25th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $24.00 target price on shares of CNO Financial Group in a research report on Thursday, December 21st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. CNO Financial Group presently has an average rating of “Hold” and a consensus target price of $22.50.

Shares of CNO Financial Group (NYSE:CNO) opened at $24.65 on Tuesday. The firm has a market capitalization of $4,140.00, a P/E ratio of 8.90, a price-to-earnings-growth ratio of 1.50 and a beta of 1.20. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.16 and a quick ratio of 0.16. CNO Financial Group has a 52-week low of $18.53 and a 52-week high of $25.83.

CNO Financial Group (NYSE:CNO) last released its earnings results on Wednesday, October 25th. The financial services provider reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.06. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1 billion. CNO Financial Group had a return on equity of 5.88% and a net margin of 11.41%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.37 earnings per share. equities analysts predict that CNO Financial Group will post 1.65 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of CNO. Thrivent Financial For Lutherans increased its holdings in shares of CNO Financial Group by 3,275.6% in the second quarter. Thrivent Financial For Lutherans now owns 1,092,360 shares of the financial services provider’s stock valued at $22,809,000 after buying an additional 1,060,000 shares in the last quarter. AJO LP increased its holdings in shares of CNO Financial Group by 407.7% in the second quarter. AJO LP now owns 1,076,120 shares of the financial services provider’s stock valued at $22,469,000 after buying an additional 864,162 shares in the last quarter. Prudential Financial Inc. increased its holdings in shares of CNO Financial Group by 50.8% in the second quarter. Prudential Financial Inc. now owns 1,758,374 shares of the financial services provider’s stock valued at $36,715,000 after buying an additional 592,490 shares in the last quarter. LSV Asset Management increased its holdings in shares of CNO Financial Group by 11.4% in the second quarter. LSV Asset Management now owns 4,831,708 shares of the financial services provider’s stock valued at $100,886,000 after buying an additional 492,800 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of CNO Financial Group by 12.2% in the second quarter. Ameriprise Financial Inc. now owns 3,719,068 shares of the financial services provider’s stock valued at $77,649,000 after buying an additional 404,552 shares in the last quarter. 95.13% of the stock is currently owned by institutional investors.

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About CNO Financial Group

CNO Financial Group, Inc is a holding company for a group of insurance companies operating throughout the United States that develops, markets and administers health insurance, annuity, individual life insurance and other insurance products. The Company’s segments include Bankers Life, Washington National and Colonial Penn.

Analyst Recommendations for CNO Financial Group (NYSE:CNO)

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