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B. Riley FBR downgrades CNO Financial, Progressive to Neutral from Buy » 08:44
03/11/20
03/11
08:44
03/11/20
08:44
CNO

CNO Financial

/

+

, PGR

Progressive

$77.97 /

+2.64 (+3.50%)

, NMIH

NMI Holdings

$23.22 /

+1.04 (+4.69%)

, MTG

MGIC Investment

$11.28 /

-0.03 (-0.27%)

, AEL

American Equity

$21.47 /

+2.7 (+14.38%)

, CLNC

Colony Credit Real Estate

$10.13 /

+0.02 (+0.20%)

, CLNY

Colony Capital

$3.39 /

-0.01 (-0.29%)

, NGHC

National General

$18.50 /

+0.85 (+4.82%)

, PRU

Prudential

$62.79 /

+4.27 (+7.30%)

, VCTR

Victory Capital

$17.25 /

+1.76 (+11.36%)

B. Riley FBR analyst…

B. Riley FBR analyst Randy Binner downgraded both CNO Financial (CNO) and Progressive (PGR) to Neutral from Buy with reduced price targets of $20 and $83, respectively. While CNO remains a good relative call within life insurers, the company faces clear yield curve challenges and increased risk for investors to focus on credit exposures, Binner tells investors in a research note. And while Progressive may capture profitable growth from here through superior analytics, the stock may not be in the clear given the debate around underlying margins in a soft auto insurance cycle, adds the analyst. Binner says mortgage insurers remain best long idea in his coverage universe. Valuations are at the low-end of historical ranges for NMI Holdings (NMIH) and MGIC Investment (MTG), says the analyst. Binner also reduced his price target for American Equity (AEL) to $25 from $32, for Colony Credit Real Estate (CLNC) to $14 from $15, for Colony Capital (CLNY) to $7 from $8, for National General (NGHC) to $32 from $36, for MGIC to $17 from $19, for NMI to $34 from $38, for Prudential (PRU) to $77 from $96, for Radian Group (RDN) to $24 from $27, and for Victory Capital (VCTR) to $25 from $27.

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Downgrade
CNO Financial downgraded to Neutral from Buy at B. Riley FBR » 04:52
03/11/20
03/11
04:52
03/11/20
04:52
CNO

CNO Financial

$14.93 /

+0.78 (+5.51%)

B. Riley FBR analyst…

B. Riley FBR analyst Randy Binner downgraded CNO Financial to Neutral from Buy with a price target of $20, down from $24. The analyst reduced estimates and price targets across the insurance and asset manager sectors.

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Over a month ago
Conference/Events
CNO Financial to host investor day » 07:25
02/26/20
02/26
07:25
02/26/20
07:25
CNO

CNO Financial

$17.64 /

-0.77 (-4.18%)

Investor day to be held…

Investor day to be held in New York on February 26 at 8 am. Webcast Link

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Conference/Events
CNO Financial to host investor day » 07:59
02/21/20
02/21
07:59
02/21/20
07:59
CNO

CNO Financial

$19.55 /

-0.03 (-0.15%)

Investor day to be held…

Investor day to be held in New York on February 26 at 8 am. Webcast Link

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Earnings
CNO Financial reports Q4 EPS 52c, consensus 46c » 16:21
02/11/20
02/11
16:21
02/11/20
16:21
CNO

CNO Financial

$18.92 /

+0.26 (+1.39%)

Reports Q4 revenue…

Reports Q4 revenue $1.07B, consensus $942.8M.

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Hot Stocks
CNO Financial announces new operating model, sees Q4 pre-tax charge of $14M » 16:17
01/14/20
01/14
16:17
01/14/20
16:17
CNO

CNO Financial

$17.92 /

-0.05 (-0.28%)

CNO Financial announced a…

CNO Financial announced a new operating model that realigns the company from three operating business segments into two divisions-Consumer and Worksite. The new structure will create a leaner, more integrated, customer-centric organization that better positions CNO Financial for long-term success and shareholder value creation. The initiatives are expected to reduce gross annual run-rate spending by approximately $22M by the end of 2020. The company is expected to incur a pre-tax charge of approximately $14M in 4Q19, mainly attributed to severance and the previously announced IT restructuring. The charge will be classified as a non-operating expense. CNO plans to invest approximately $11M of the annual run-rate savings to support various technology and growth initiatives. These investments, which are largely outsourced services and new positions, will enable increased digital functionality and enhanced customer service, while also avoiding various future costs.

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Over a quarter ago
Downgrade
CNO Financial downgraded to In Line from Outperform at Evercore ISI » 05:40
01/07/20
01/07
05:40
01/07/20
05:40
CNO

CNO Financial

$17.84 /

-0.17 (-0.94%)

Evercore ISI downgraded…

Evercore ISI downgraded CNO Financial to In Line from Outperform.

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Hot Stocks
CNO Financial announces additional $500 share repurchase program » 16:28
11/14/19
11/14
16:28
11/14/19
16:28
CNO

CNO Financial

$17.53 /

-0.13 (-0.74%)

CNO Financial announced…

CNO Financial announced that its board of directors has approved an additional $500M to repurchase the company's outstanding common stock. As of September 30, CNO had repurchased $177.3M of common stock in 2019 and had remaining repurchase capacity under the buyback program of approximately $107M.

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Hot Stocks
Health Insurance Innovations announces Erik Helding as CFO » 16:29
11/12/19
11/12
16:29
11/12/19
16:29
HIIQ

Health Insurance Innovations

$23.50 /

-1.48 (-5.92%)

, CNO

CNO Financial

$17.69 /

+0.07 (+0.40%)

Health Insurance…

Health Insurance Innovations announced the planned transition from Michael Hershberger as Chief Financial Officer to Erik Helding. Mr. Hershberger will continue to serve as Chief Financial Officer until November 15, 2019 and will continue to be employed with HIIQ until December 31, 2019 to assist with the transition. Mr. Helding will take over as the Chief Financial Officer on November 15, 2019. Gavin Southwell, Chief Executive Officer of HIIQ, said, "I would like thank and recognize Mike for his financial leadership and invaluable contribution in building HIIQ. His strategic leadership has contributed greatly to the success of our overall organization." "We are very excited about the opportunities ahead. Erik is an outstanding executive with significant business experience and a proven track record of successfully leading financial operations in the insurance marketplace," said Mr. Southwell. "We believe that Erik will be a catalyst for the continued development of our company well into the future. We are confident that his strategic leadership, financial acumen, and broad expertise will help us continue to scale our businesses and drive financial results." Mr. Helding was most recently the Chief Financial Officer at CNO Financial Group, Inc. (CNO). Prior to that, he served in various financial leadership positions at CNO. He joined CNO in 2004 as Director of Finance for Bankers Life and Colonial Penn. Prior to joining CNO, Mr. Helding held finance positions with GE Capital from 1999-2004. He earned a Bachelor's degree in Finance and an MBA from the University of Illinois.

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Earnings
CNO Financial reports Q3 operating EPS 45c, consensus 45c » 16:31
11/05/19
11/05
16:31
11/05/19
16:31
CNO

CNO Financial

$16.35 /

+0.14 (+0.86%)

Reports Q3 revenue $944M,…

Reports Q3 revenue $944M, consensus $953.6M.

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