Insider Selling: CNO Financial Group (NYSE:CNO) CEO Sells 45,357 Shares of Stock

CNO Financial Group, Inc. (NYSE:CNO) CEO Gary Bhojwani sold 45,357 shares of CNO Financial Group stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $43.17, for a total value of $1,958,061.69. Following the sale, the chief executive officer directly owned 320,547 shares of the company’s stock, valued at approximately $13,838,013.99. This trade represents a 12.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

CNO Financial Group Stock Down 0.3%

Shares of CNO traded down $0.13 during midday trading on Wednesday, reaching $42.99. 850,597 shares of the stock were exchanged, compared to its average volume of 687,941. The company has a market capitalization of $4.10 billion, a P/E ratio of 19.28 and a beta of 0.84. The company has a current ratio of 0.17, a quick ratio of 0.18 and a debt-to-equity ratio of 1.43. CNO Financial Group, Inc. has a 52 week low of $34.63 and a 52 week high of $44.85. The company’s 50 day moving average is $42.55 and its two-hundred day moving average is $40.59.

CNO Financial Group (NYSE:CNO) last released its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.27. CNO Financial Group had a return on equity of 15.80% and a net margin of 4.94%.The firm had revenue of $101.10 million during the quarter, compared to the consensus estimate of $1 billion. During the same period in the previous year, the company posted $1.18 earnings per share. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. On average, sell-side analysts anticipate that CNO Financial Group, Inc. will post 3.83 earnings per share for the current year.

CNO Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, March 10th. CNO Financial Group’s dividend payout ratio (DPR) is 30.49%.

Hedge Funds Weigh In On CNO Financial Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Optiver Holding B.V. boosted its stake in CNO Financial Group by 90.1% in the 3rd quarter. Optiver Holding B.V. now owns 637 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 302 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of CNO Financial Group by 353.0% in the third quarter. Smartleaf Asset Management LLC now owns 743 shares of the financial services provider’s stock worth $29,000 after buying an additional 579 shares during the last quarter. Turning Point Benefit Group Inc. acquired a new stake in shares of CNO Financial Group during the second quarter worth $32,000. First Horizon Corp purchased a new stake in shares of CNO Financial Group during the third quarter valued at $32,000. Finally, Richardson Financial Services Inc. purchased a new stake in shares of CNO Financial Group during the fourth quarter valued at $37,000. 95.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on CNO. Piper Sandler boosted their price target on CNO Financial Group from $46.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 23rd. Evercore reiterated an “underperform” rating and issued a $43.00 target price on shares of CNO Financial Group in a report on Wednesday. Jefferies Financial Group raised shares of CNO Financial Group from a “hold” rating to a “buy” rating and increased their price target for the company from $42.00 to $47.00 in a research report on Monday, December 15th. Wall Street Zen cut shares of CNO Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of CNO Financial Group in a research note on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $46.25.

CNO Financial Group Company Profile

CNO Financial Group is an Indiana‐based holding company that offers a range of insurance and retirement solutions through its operating subsidiaries. Its primary business activities include life insurance, annuities, and supplemental health insurance products designed to help individuals plan for retirement and manage health‐related expenses. The company serves middle‐income Americans, with particular emphasis on senior customers seeking guaranteed coverage and reliable income streams.

Originally founded as Conseco in 1979, the company underwent a financial restructuring and rebranded as CNO Financial Group in 2010.