CNO Financial Group, Inc. (NYSE:CNO – Get Rating) – Investment analysts at Jefferies Financial Group lowered their Q1 2023 earnings estimates for shares of CNO Financial Group in a research note issued on Sunday, June 5th. Jefferies Financial Group analyst D. Bergman now forecasts that the financial services provider will earn $0.56 per share for the quarter, down from their previous estimate of $0.61. Jefferies Financial Group also issued estimates for CNO Financial Group’s Q2 2023 earnings at $0.54 EPS, FY2023 earnings at $2.30 EPS, FY2024 earnings at $2.55 EPS, FY2025 earnings at $2.80 EPS and FY2026 earnings at $3.10 EPS.
A number of other research analysts have also issued reports on CNO. StockNews.com assumed coverage on shares of CNO Financial Group in a research note on Thursday, March 31st. They set a “hold” rating for the company. Morgan Stanley reduced their target price on shares of CNO Financial Group from $29.00 to $28.00 and set an “equal weight” rating for the company in a research note on Friday, April 8th. B. Riley reissued a “buy” rating on shares of CNO Financial Group in a research note on Friday, March 4th. Zacks Investment Research lowered shares of CNO Financial Group from a “hold” rating to a “strong sell” rating and set a $17.00 target price for the company. in a research note on Monday, May 16th. Finally, Piper Sandler dropped their price target on shares of CNO Financial Group from $23.00 to $22.00 and set a “neutral” rating on the stock in a research report on Friday, May 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, CNO Financial Group has a consensus rating of “Hold” and a consensus target price of $23.00.
CNO Financial Group (NYSE:CNO – Get Rating) last posted its quarterly earnings results on Monday, May 2nd. The financial services provider reported $0.42 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.15). CNO Financial Group had a net margin of 10.25% and a return on equity of 7.00%. The business had revenue of $842.90 million during the quarter, compared to analyst estimates of $915.85 million. During the same period last year, the firm posted $0.55 earnings per share.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 24th. Shareholders of record on Friday, June 10th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.75%. This is an increase from CNO Financial Group’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, June 9th. CNO Financial Group’s payout ratio is 16.20%.
In other CNO Financial Group news, Director Frederick James Sievert sold 3,000 shares of the business’s stock in a transaction dated Friday, May 6th. The shares were sold at an average price of $21.56, for a total transaction of $64,680.00. Following the sale, the director now directly owns 62,421 shares in the company, valued at approximately $1,345,796.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.70% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pictet Asset Management SA bought a new stake in shares of CNO Financial Group in the 4th quarter worth approximately $201,000. Sageworth Trust Co of South Dakota bought a new stake in shares of CNO Financial Group in the 4th quarter worth approximately $51,000. Voloridge Investment Management LLC bought a new stake in shares of CNO Financial Group in the 3rd quarter worth approximately $2,090,000. BNP Paribas Arbitrage SA increased its position in shares of CNO Financial Group by 11.4% in the third quarter. BNP Paribas Arbitrage SA now owns 35,556 shares of the financial services provider’s stock worth $837,000 after acquiring an additional 3,636 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. increased its position in shares of CNO Financial Group by 1.7% in the third quarter. Cornercap Investment Counsel Inc. now owns 48,139 shares of the financial services provider’s stock worth $1,133,000 after acquiring an additional 814 shares in the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.
About CNO Financial Group (Get Rating)
CNO Financial Group, Inc, through its subsidiaries, develops, markets, and administers health insurance, annuity, individual life insurance, and other insurance products 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.
- Get a free copy of the StockNews.com research report on CNO Financial Group (CNO)
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