Today’s recommendation is a dividend-paying insurance stock with a history of slow-but-steady growth.
CNO Financial Group (CNO)
from The Buyback Letter
Insurance holding company CNO Financial Group (CNO) and its insurance subsidiaries – principally Bankers Life and Casualty Company, Washington National Insurance Company and Colonial Penn Life Insurance Company – serve pre-retiree and retired Americans by helping them protect against financial adversity and provide for a more secure retirement. They do this by developing, marketing, and administering health insurance, annuity, individual life insurance and other insurance products for senior and middle-income markets in the U.S.
CNO reported second-quarter net income increased about 17% versus a year earlier, aided by growth in revenue and a decline in benefits payouts. Revenue rose to $1.08 billion from $1.07 billion. Analysts were expecting $1.07 billion.
Management has reduced shares outstanding by 7.1% in the last 12 months.
New subscribers: Buy.
David R. Fried, The Buyback Letter, www.buybackletter.com, 888-289-2225, Mid-August 2013