Insider Selling: CNO Financial Group (NYSE:CNO) CMO Sells 3,308 Shares of Stock

CNO Financial Group, Inc. (NYSE:CNO) CMO Rocco Tarasi III sold 3,308 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $49.00, for a total value of $162,092.00. Following the completion of the transaction, the chief marketing officer owned 79,191 shares of the company’s stock, valued at approximately $3,880,359. The trade was a 4.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CNO Financial Group Stock Performance

Shares of NYSE:CNO traded up $0.36 during trading on Thursday, hitting $49.99. The stock had a trading volume of 531,198 shares, compared to its average volume of 681,845. CNO Financial Group, Inc. has a 12-month low of $35.24 and a 12-month high of $50.20. The stock 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. The stock has a 50-day simple moving average of $45.04 and a two-hundred day simple moving average of $42.95.

CNO Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 10th will be paid a $0.18 dividend. 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 annualized dividend and a dividend yield of 1.4%. CNO Financial Group’s dividend payout ratio (DPR) is 28.92%.

Analyst Upgrades and Downgrades

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

Institutional Trading of CNO Financial Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Optiver Holding B.V. grew its holdings in CNO Financial Group by 90.1% during the third quarter. Optiver Holding B.V. now owns 637 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 302 shares during the period. Osaic Holdings Inc. grew its holdings in CNO Financial Group by 39.2% during the second quarter. Osaic Holdings Inc. now owns 1,194 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 336 shares during the period. Signaturefd LLC grew its holdings in CNO Financial Group by 18.7% during the fourth quarter. Signaturefd LLC now owns 2,217 shares of the financial services provider’s stock worth $94,000 after acquiring an additional 349 shares during the period. EverSource Wealth Advisors LLC grew its holdings in CNO Financial Group by 32.1% during the third quarter. EverSource Wealth Advisors LLC now owns 1,553 shares of the financial services provider’s stock worth $61,000 after acquiring an additional 377 shares during the period. Finally, Fifth Third Bancorp grew its holdings in CNO Financial Group by 25.0% during the fourth quarter. Fifth Third Bancorp now owns 1,888 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 377 shares during the period. 95.43% of the stock is owned by institutional investors and hedge funds.

About CNO Financial Group

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.