CNO Financial Group (NYSE:CNO) Insider Sells 9,374 Shares of Stock

CNO Financial Group, Inc. (NYSE:CNO) insider Karen Detoro sold 9,374 shares of the stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $54.98, for a total value of $515,382.52. Following the completion of the transaction, the insider owned 44,250 shares in the company, valued at approximately $2,432,865. The trade was a 17.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CNO Financial Group Stock Up 1.4%

Shares of NYSE CNO traded up $0.79 during midday trading on Wednesday, hitting $55.33. 672,027 shares of the stock traded hands, compared to its average volume of 722,595. The company has a market cap of $5.12 billion, a PE ratio of 19.01 and a beta of 0.80. CNO Financial Group, Inc. has a one year low of $38.22 and a one year high of $57.59. The business has a 50 day moving average price of $53.61 and a two-hundred day moving average price of $47.59. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.17 and a current ratio of 0.17.

CNO Financial Group (NYSE:CNO) last issued its earnings results on Thursday, July 30th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.29. CNO Financial Group had a return on equity of 18.76% and a net margin of 6.02%.The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $999.45 million. During the same period last year, the business earned $0.87 EPS. CNO Financial Group’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, equities analysts predict that CNO Financial Group, Inc. will post 4.74 EPS for the current year.

CNO Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be issued a dividend of $0.18 per share. The ex-dividend date is Thursday, September 10th. This represents a $0.72 annualized dividend and a yield of 1.3%. CNO Financial Group’s dividend payout ratio is presently 24.74%.

Institutional Trading of CNO Financial Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. Nykredit A S bought a new stake in CNO Financial Group during the second quarter worth $39,000. EverSource Wealth Advisors LLC increased its position in shares of CNO Financial Group by 123.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,176 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 649 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of CNO Financial Group by 75.4% during the 1st quarter. Bessemer Group Inc. now owns 1,133 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 487 shares during the period. Osaic Holdings Inc. raised its stake in shares of CNO Financial Group by 39.2% during the 2nd quarter. Osaic Holdings Inc. now owns 1,194 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 336 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in shares of CNO Financial Group by 72.0% in the 2nd quarter. Versant Capital Management Inc now owns 1,132 shares of the financial services provider’s stock worth $58,000 after buying an additional 474 shares during the last quarter. 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. Jefferies Financial Group downgraded shares of CNO Financial Group from a “buy” rating to a “hold” rating and boosted their target price for the stock from $53.00 to $55.00 in a research report on Friday, July 10th. Evercore set a $48.00 price target on CNO Financial Group and gave the company an “in-line” rating in a research note on Monday, June 1st. Keefe, Bruyette & Woods boosted their price objective on CNO Financial Group from $53.00 to $57.00 and gave the stock a “market perform” rating in a report on Monday, August 3rd. Capital One Financial set a $70.00 target price on CNO Financial Group in a report on Wednesday, August 26th. Finally, Wall Street Zen raised CNO Financial Group from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, CNO Financial Group currently has an average rating of “Hold” and an average price target of $56.00.

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.