CNO Financial Receives a Hold 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 $19.97.

Dargan wrote:

“We were on the road with CNO Financial Group on June 19 and 20 meeting with Mid-Atlantic investors. From CNO were Edward Bonach, CEO; and Gary Bhojwani, President (and CEO effective January 2018), as well as head of IR Adam Auvil. Following on the heels of an investor day on June 5, the focus of meetings was on the company’s growth strategy, which centers on “expanding to the right” in the middle income market. No change to our EPS estimates or price target.”

According to TipRanks.com, Dargan is a 3-star analyst with an average return of 7.4% and a 65.6% 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.

The company has a one year high of $22.60 and a one year low of $14.30. Currently, CNO Financial has an average volume of 1.23M.

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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.