Wells Fargo Reiterates Outperform on CNO Financial Group

Wells Fargo is out with its report today on CNO Financial Group (NYSE: CNO), reiterating Outperform.

In a note to clients, Wells Fargo writes, "We believe share repurchase, together with building a holding company investment portfolio to take advantage of CNO's non-life loss carryfoward, should act to expand ROE beyond the 8-9% range in 2013 implied by the company's ROE expansion target. We reiterate our Outperform rating."

Shares of CNO closed Thursday at $7.91.