CNO Financial Group (NYSE:CNO) CMO Rocco Tarasi III Sells 5,750 Shares

CNO Financial Group, Inc. (NYSE:CNO) CMO Rocco Tarasi III sold 5,750 shares of the stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $50.00, for a total transaction of $287,500.00. Following the sale, the chief marketing officer owned 79,191 shares in the company, valued at $3,959,550. The trade was a 6.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CNO Financial Group Trading Up 0.7%

Shares of CNO Financial Group stock opened at $49.99 on Friday. The company has a market capitalization of $4.67 billion, a price-to-earnings ratio of 20.08 and a beta of 0.81. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 1.61. CNO Financial Group, Inc. has a 12-month low of $35.24 and a 12-month high of $50.20. The firm’s 50-day moving average price is $45.21 and its two-hundred day moving average price is $43.02.

CNO Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 10th will be paid a dividend of $0.18 per share. The ex-dividend date is Wednesday, June 10th. This is a positive change from CNO Financial Group’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 1.4%. CNO Financial Group’s dividend payout ratio is currently 28.92%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CNO shares. Evercore set a $48.00 price target on shares of CNO Financial Group and gave the company an “in-line” rating in a research note on Monday, June 1st. Weiss Ratings restated a “buy (b)” rating on shares of CNO Financial Group in a research note on Monday, April 20th. Wall Street Zen downgraded shares of CNO Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Finally, Keefe, Bruyette & Woods raised their price target on shares of CNO Financial Group from $46.00 to $50.00 and gave the company a “market perform” rating in a research note on Tuesday, May 5th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $48.75.

Institutional Investors Weigh In On CNO Financial Group

A number of hedge funds have recently made changes to their positions in the stock. Glenmede Trust Co. NA acquired a new stake in shares of CNO Financial Group in the 1st quarter valued at approximately $201,000. Cim Investment Management Inc. boosted its stake in shares of CNO Financial Group by 18.8% in the 1st quarter. Cim Investment Management Inc. now owns 13,301 shares of the financial services provider’s stock valued at $546,000 after purchasing an additional 2,109 shares in the last quarter. Bank of America Corp DE raised its holdings in CNO Financial Group by 6.2% in the 1st quarter. Bank of America Corp DE now owns 988,063 shares of the financial services provider’s stock valued at $40,570,000 after buying an additional 57,804 shares during the last quarter. Amundi raised its holdings in CNO Financial Group by 69.0% in the 1st quarter. Amundi now owns 17,596 shares of the financial services provider’s stock valued at $722,000 after buying an additional 7,182 shares during the last quarter. Finally, California State Teachers Retirement System raised its holdings in CNO Financial Group by 13.6% in the 1st quarter. California State Teachers Retirement System now owns 108,148 shares of the financial services provider’s stock valued at $4,441,000 after buying an additional 12,912 shares during the last quarter. 95.43% of the stock is currently owned by institutional investors and hedge funds.

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.