CNO Financial Gets a Hold Rating from Wells Fargo

By Ryan Adsit

In a report released today, Sean Dargan from Wells Fargo reiterated a Hold rating on CNO Financial (NYSE: CNO). The company’s shares opened today at $20.35.

Dargan commented:

“We are bringing down 2018E EPS to $1.68 from $1.70 and 2019E to $1.83 from $1.85 to reflect higher assumed corporate expenses. We think the weakness in CNO shares today (down 2.82% versus down 0.12% in S&P 500 and down 0.72% in S&P 500 Life and Health Insurance Index) was mostly due to the lack of a long-term care solution announcement, and the target of “modest” organic ROE improvement over the next several years.”

According to TipRanks.com, Dargan is a 4-star analyst with an average return of 8.4% and a 59.4% success rate. Dargan covers the Financial sector, focusing on stocks such as Marsh & Mclennan Companies, Prudential Financial Inc, and Fidelity & Guaranty Life.

CNO Financial has an analyst consensus of Moderate Buy, with a price target consensus of $22.

CNO Financial’s market cap is currently $3.6B and has a P/E ratio of 9.51. The company has a book value ratio of 0.7602.

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CNO Financial Group, Inc. is an insurance holding company, which develops, markets and administers health insurance, annuity, individual life insurance and other insurance products. It operates through three segments: Bankers Life, Washington National, Colonial Penn. The Bankers Life segment markets and distributes Medicare supplement insurance, interest-sensitive life insurance, traditional life insurance, fixed annuities and long-term care insurance products to the middle-income senior market through a dedicated field force of career agents and sales managers supported by a network of community-based sales offices. The Washington National segment markets and distributes supplemental health including specified disease, accident and hospital indemnity insurance products and life insurance to middle-income consumers at home and at the worksite. The Colonial Penn segment markets primarily graded benefit and simplified issue life insurance directly to customers in the senior middle-income market through television advertising, direct mail, the internet and telemarketing. The company was founded in 1979 and is headquartered in Carmel, IN.