Insider Selling: CNO Financial Group (NYSE:CNO) CEO Sells 31,430 Shares of Stock

CNO Financial Group, Inc. (NYSE:CNO) CEO Gary Bhojwani sold 31,430 shares of the business’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $41.99, for a total value of $1,319,745.70. Following the completion of the transaction, the chief executive officer directly owned 195,926 shares of the company’s stock, valued at approximately $8,226,932.74. This trade represents a 13.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

CNO Financial Group Trading Down 0.7%

NYSE CNO traded down $0.31 during mid-day trading on Friday, reaching $42.17. 583,533 shares of the stock were exchanged, compared to its average volume of 748,976. CNO Financial Group, Inc. has a 1-year low of $34.63 and a 1-year high of $44.01. The stock has a market capitalization of $4.02 billion, a PE ratio of 14.74 and a beta of 0.85. The business’s fifty day simple moving average is $41.25 and its 200 day simple moving average is $39.38. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.18 and a current ratio of 0.18.

CNO Financial Group (NYSE:CNO) last issued its quarterly earnings results on Friday, May 19th. The financial services provider reported $0.84 EPS for the quarter. The firm had revenue of $968.30 million during the quarter. CNO Financial Group had a net margin of 6.64% and a return on equity of 15.81%. On average, research analysts anticipate that CNO Financial Group, Inc. will post 3.83 earnings per share for the current fiscal year.

CNO Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Wednesday, December 10th were issued a $0.17 dividend. The ex-dividend date was Wednesday, December 10th. This represents a $0.68 dividend on an annualized basis and a yield of 1.6%. CNO Financial Group’s dividend payout ratio (DPR) is presently 23.78%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CNO. American Century Companies Inc. lifted its holdings in CNO Financial Group by 6.2% in the second quarter. American Century Companies Inc. now owns 3,121,527 shares of the financial services provider’s stock worth $120,429,000 after purchasing an additional 183,493 shares during the period. Clark Capital Management Group Inc. bought a new stake in shares of CNO Financial Group during the 1st quarter worth about $4,975,000. Allianz Asset Management GmbH lifted its stake in shares of CNO Financial Group by 70.9% in the 2nd quarter. Allianz Asset Management GmbH now owns 1,546,745 shares of the financial services provider’s stock worth $59,673,000 after acquiring an additional 641,950 shares during the period. Boston Partners boosted its holdings in shares of CNO Financial Group by 141.1% in the second quarter. Boston Partners now owns 86,148 shares of the financial services provider’s stock valued at $3,324,000 after acquiring an additional 50,411 shares in the last quarter. Finally, Cresset Asset Management LLC acquired a new position in shares of CNO Financial Group during the second quarter valued at approximately $1,511,000. Institutional investors and hedge funds own 95.43% of the company’s stock.

Analyst Upgrades and Downgrades

CNO has been the topic of several research analyst reports. Jefferies Financial Group raised CNO Financial Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $42.00 to $47.00 in a research note on Monday, December 15th. Weiss Ratings restated a “buy (b)” rating on shares of CNO Financial Group in a report on Wednesday, October 8th. Piper Sandler increased their price target on CNO Financial Group from $46.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, December 23rd. Keefe, Bruyette & Woods boosted their price objective on CNO Financial Group from $44.00 to $45.00 and gave the stock a “market perform” rating in a research note on Thursday, October 9th. Finally, Wall Street Zen upgraded CNO Financial Group from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.00.

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.