Traders Sell Shares of CNO Financial Group Inc. (CNO) on Strength (CNO)
Traders sold shares of CNO Financial Group Inc. (NYSE:CNO) on strength during trading hours on Thursday. $12.01 million flowed into the stock on the tick-up and $36.28 million flowed out of the stock on the tick-down, for a money net flow of $24.27 million out of the stock. Of all equities tracked, CNO Financial Group had the 0th highest net out-flow for the day. CNO Financial Group traded up $0.24 for the day and closed at $15.49
A number of research analysts have commented on CNO shares. FBR & Co reaffirmed a “buy” rating and set a $21.00 price target on shares of CNO Financial Group in a research report on Monday, April 18th. Keefe, Bruyette & Woods lowered their price target on CNO Financial Group from $20.00 to $19.00 and set a “market perform” rating for the company in a research report on Tuesday. Morgan Stanley reaffirmed a “hold” rating and set a $19.00 price target on shares of CNO Financial Group in a research report on Thursday, July 28th. Evercore ISI began coverage on CNO Financial Group in a research report on Wednesday, July 6th. They set a “hold” rating and a $19.00 price target for the company. Finally, Zacks Investment Research lowered CNO Financial Group from a “hold” rating to a “sell” rating in a research report on Tuesday, April 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $19.83.
The firm has a 50 day moving average of $17.46 and a 200-day moving average of $18.02. The company has a market cap of $2.70 billion and a P/E ratio of 10.34.
CNO Financial Group (NYSE:CNO) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.35 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. During the same quarter in the prior year, the business posted $0.34 EPS. The company earned $1 billion during the quarter, compared to analysts’ expectations of $961.56 million. The company’s revenue was up 4.6% on a year-over-year basis. Analysts forecast that CNO Financial Group Inc. will post $1.39 earnings per share for the current fiscal year.
In other CNO Financial Group news, CEO Edward J. Bonach sold 35,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $18.70, for a total transaction of $654,500.00. Following the completion of the transaction, the chief executive officer now owns 510,431 shares in the company, valued at $9,545,059.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christopher J. Nickele sold 24,996 shares of the business’s stock in a transaction that occurred on Thursday, June 23rd. The shares were sold at an average price of $19.25, for a total value of $481,173.00. Following the transaction, the executive vice president now owns 74,975 shares of the company’s stock, valued at approximately $1,443,268.75. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have made changes to their positions in CNO. Employees Retirement System of Texas raised its position in shares of CNO Financial Group by 56.3% in the fourth quarter. Employees Retirement System of Texas now owns 211,000 shares of the company’s stock valued at $4,028,000 after buying an additional 76,000 shares during the period. Russell Frank Co raised its position in shares of CNO Financial Group by 11.4% in the fourth quarter. Russell Frank Co now owns 210,448 shares of the company’s stock valued at $4,068,000 after buying an additional 21,540 shares during the period. New York State Common Retirement Fund raised its position in shares of CNO Financial Group by 2.0% in the fourth quarter. New York State Common Retirement Fund now owns 257,224 shares of the company’s stock valued at $4,910,000 after buying an additional 5,086 shares during the period. OppenheimerFunds Inc. acquired a new position in shares of CNO Financial Group during the fourth quarter valued at about $4,982,000. Finally, Eagle Asset Management raised its position in shares of CNO Financial Group by 99.0% in the third quarter. Eagle Asset Management now owns 1,846,604 shares of the company’s stock valued at $34,734,000 after buying an additional 918,748 shares during the period.
CNO Financial Group, Inc is a holding company for a group of insurance companies operating across the United States that develop, market and administer health insurance, annuity, individual life insurance and other insurance products. It operates through three operating segments: Bankers Life, Washington National and Colonial Penn.
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