CNO Financial Group Inc (NYSE:CNO) Short Interest Up 8.3% in July
CNO Financial Group Inc (NYSE:CNO) saw a large growth in short interest in July. As of July 31st, there was short interest totalling 4,559,800 shares, a growth of 8.3% from the June 30th total of 4,210,900 shares. Currently, 2.9% of the company’s stock are sold short. Based on an average trading volume of 965,900 shares, the short-interest ratio is presently 4.7 days.
CNO stock traded down $0.62 during trading on Wednesday, reaching $14.75. The stock had a trading volume of 555,068 shares, compared to its average volume of 1,022,161. CNO Financial Group has a one year low of $13.64 and a one year high of $22.19. The stock has a 50 day moving average price of $16.40. The stock has a market cap of $2.40 billion, a P/E ratio of 8.06 and a beta of 1.22. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.25 and a quick ratio of 0.25.
CNO Financial Group (NYSE:CNO) last posted its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $0.48 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.48. CNO Financial Group had a negative net margin of 9.67% and a positive return on equity of 7.71%. The firm had revenue of $979.80 million for the quarter, compared to analysts’ expectations of $956.66 million. During the same quarter last year, the company posted $0.49 EPS. The business’s quarterly revenue was down 6.4% on a year-over-year basis. Equities research analysts anticipate that CNO Financial Group will post 1.9 EPS for the current year.
Institutional investors have recently modified their holdings of the business. Pzena Investment Management LLC bought a new position in shares of CNO Financial Group in the first quarter worth approximately $38,903,000. Paradice Investment Management LLC increased its position in CNO Financial Group by 14.0% during the second quarter. Paradice Investment Management LLC now owns 5,008,089 shares of the financial services provider’s stock valued at $83,535,000 after acquiring an additional 614,372 shares during the last quarter. Wells Fargo & Company MN increased its position in CNO Financial Group by 14.9% during the second quarter. Wells Fargo & Company MN now owns 2,564,993 shares of the financial services provider’s stock valued at $42,783,000 after acquiring an additional 332,027 shares during the last quarter. Renaissance Technologies LLC increased its position in CNO Financial Group by 24.1% during the second quarter. Renaissance Technologies LLC now owns 1,187,600 shares of the financial services provider’s stock valued at $19,809,000 after acquiring an additional 230,700 shares during the last quarter. Finally, Eagle Asset Management Inc. increased its position in CNO Financial Group by 43.3% during the first quarter. Eagle Asset Management Inc. now owns 733,515 shares of the financial services provider’s stock valued at $11,868,000 after acquiring an additional 221,625 shares during the last quarter. 95.38% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently issued reports on the stock. ValuEngine upgraded shares of CNO Financial Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 8th. Zacks Investment Research downgraded shares of CNO Financial Group from a “hold” rating to a “sell” rating and set a $18.00 price target for the company. in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the stock. CNO Financial Group currently has a consensus rating of “Hold” and an average price target of $19.50.
CNO Financial Group Company Profile
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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