JP Morgan Transitions Lead Analyst Coverage of CNO Financial

JP Morgan is transitioning lead analyst coverage of CNO Financial Group, Inc. (NYSE: CNO) and maintaining a Neutral rating.

“CNO's earnings and capital have stabilized, and we expect it to begin generating meaningful excess capital,” JP Morgan writes. “However, we forecast the ROE to improve at a slow rate near term as the company remains constrained in deploying capital. In addition, top-line growth is likely to be pressured by tepid sales and low interest rates. We could become more positive if sales pick up or policy re-pricing actions begin to lift margins.”

CNO Financial Group closed Monday at $7.27.