CNO Financial Group (NYSE:CNO) Rating Increased to Hold at Evercore

Evercore upgraded shares of CNO Financial Group (NYSE:CNO) from a strong sell rating to a hold rating in a report released on Monday morning,Zacks.com reports.

CNO has been the subject of several other research reports. Wall Street Zen cut shares of CNO Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Keefe, Bruyette & Woods raised their price objective 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. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of CNO Financial Group in a research note on Monday, April 20th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, CNO Financial Group currently has a consensus rating of “Moderate Buy” and an average target price of $48.75.

CNO Financial Group Stock Up 0.1%

Shares of NYSE CNO opened at $46.04 on Monday. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 1.61. CNO Financial Group has a 52 week low of $35.24 and a 52 week high of $47.95. The firm has a 50-day moving average price of $43.99 and a 200 day moving average price of $42.59. The stock has a market capitalization of $4.30 billion, a price-to-earnings ratio of 18.49 and a beta of 0.82.

CNO Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 10th will be given a dividend of $0.18 per share. The ex-dividend date is Wednesday, June 10th. This is an increase from CNO Financial Group’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 1.6%. CNO Financial Group’s dividend payout ratio (DPR) is presently 27.31%.

Insider Transactions at CNO Financial Group

In other CNO Financial Group news, insider Scott L. Goldberg sold 11,060 shares of CNO Financial Group stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $39.97, for a total transaction of $442,068.20. Following the completion of the transaction, the insider owned 214,524 shares in the company, valued at approximately $8,574,524.28. The trade was a 4.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.44% of the company’s stock.

Institutional Investors Weigh In On CNO Financial Group

A number of hedge funds and other institutional investors have recently modified their holdings of CNO. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of CNO Financial Group during the fourth quarter worth about $18,297,000. Jain Global LLC purchased a new stake in shares of CNO Financial Group during the fourth quarter worth about $17,996,000. Millennium Management LLC grew its holdings in shares of CNO Financial Group by 190.3% during the third quarter. Millennium Management LLC now owns 579,656 shares of the financial services provider’s stock worth $22,925,000 after buying an additional 379,984 shares in the last quarter. Capitolis Liquid Global Markets LLC grew its holdings in shares of CNO Financial Group by 384.9% during the third quarter. Capitolis Liquid Global Markets LLC now owns 438,800 shares of the financial services provider’s stock worth $17,355,000 after buying an additional 348,300 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of CNO Financial Group by 35.6% during 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 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.