CNO Financial Group Inc (NYSE:CNO) Short Interest Down 12.7% in November

CNO Financial Group Inc (NYSE:CNO) was the target of a significant decrease in short interest in November. As of November 15th, there was short interest totalling 4,450,000 shares, a decrease of 12.7% from the October 31st total of 5,100,000 shares. Currently, 3.0% of the company’s stock are short sold. Based on an average daily volume of 1,010,000 shares, the days-to-cover ratio is presently 4.4 days.

A number of equities analysts have issued reports on CNO shares. Guggenheim downgraded CNO Financial Group to a “hold” rating and set a $29.00 price objective for the company. in a report on Friday, November 15th. Zacks Investment Research downgraded CNO Financial Group from a “hold” rating to a “sell” rating and set a $17.00 price objective for the company. in a report on Thursday, September 12th. ValuEngine downgraded CNO Financial Group from a “hold” rating to a “sell” rating in a report on Friday, November 1st. TheStreet upgraded CNO Financial Group from a “c+” rating to a “b-” rating in a report on Tuesday. Finally, Citigroup decreased their price objective on CNO Financial Group from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. CNO Financial Group has an average rating of “Hold” and an average target price of $21.00.

In other CNO Financial Group news, insider Joel H. Schwartz sold 1,717 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $18.21, for a total value of $31,266.57. Following the completion of the transaction, the insider now owns 23,603 shares in the company, valued at $429,810.63. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Frederick James Sievert sold 9,415 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $15.94, for a total value of $150,075.10. Following the completion of the transaction, the director now owns 65,555 shares of the company’s stock, valued at approximately $1,044,946.70. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CNO. Citadel Advisors LLC grew its stake in shares of CNO Financial Group by 106.9% in the second quarter. Citadel Advisors LLC now owns 2,853,670 shares of the financial services provider’s stock worth $47,599,000 after acquiring an additional 1,474,518 shares during the last quarter. Pzena Investment Management LLC grew its stake in shares of CNO Financial Group by 60.3% in the second quarter. Pzena Investment Management LLC now owns 3,855,224 shares of the financial services provider’s stock worth $64,305,000 after acquiring an additional 1,450,851 shares during the last quarter. Millennium Management LLC grew its stake in shares of CNO Financial Group by 291.4% in the third quarter. Millennium Management LLC now owns 1,652,253 shares of the financial services provider’s stock worth $26,155,000 after acquiring an additional 1,230,122 shares during the last quarter. Paradice Investment Management LLC grew its stake in shares of CNO Financial Group by 14.0% in the second quarter. Paradice Investment Management LLC now owns 5,008,089 shares of the financial services provider’s stock worth $83,535,000 after acquiring an additional 614,372 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its stake in shares of CNO Financial Group by 24.0% in the second quarter. Nuveen Asset Management LLC now owns 2,783,780 shares of the financial services provider’s stock worth $46,433,000 after acquiring an additional 539,021 shares during the last quarter. 97.37% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE CNO traded up $0.17 during trading on Thursday, reaching $18.07. The company had a trading volume of 1,018,664 shares, compared to its average volume of 1,291,868. CNO Financial Group has a 12-month low of $13.64 and a 12-month high of $18.63. The stock has a market cap of $2.71 billion, a PE ratio of 9.87 and a beta of 1.22. The business’s 50-day moving average is $16.53 and its 200 day moving average is $16.11. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.58.

CNO Financial Group (NYSE:CNO) last released its earnings results on Tuesday, November 5th. The financial services provider reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). CNO Financial Group had a return on equity of 6.77% and a net margin of 4.29%. The company had revenue of $944.00 million during the quarter, compared to analysts’ expectations of $953.60 million. During the same period in the prior year, the company posted $0.53 earnings per share. The company’s revenue was down 36.3% on a year-over-year basis. On average, analysts anticipate that CNO Financial Group will post 1.81 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 10th will be paid a $0.11 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.43%. CNO Financial Group’s dividend payout ratio is currently 24.04%.

About CNO Financial Group

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 operates through Bankers Life, Washington National, Colonial Penn, and Long-Term Care in Run Off segments.

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