CNO Financial Group, Inc. (NYSE:CNO) Given Average Rating of “Moderate Buy” by Brokerages

CNO Financial Group, Inc. (NYSE:CNO) has been given an average recommendation of “Moderate Buy” by the five ratings firms that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $48.75.

CNO has been the topic of a number of analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of CNO Financial Group in a research report on Monday, April 20th. Wall Street Zen lowered shares of CNO Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Evercore set a $48.00 target price on CNO Financial Group and gave the company an “in-line” rating in a research report on Monday, June 1st. Finally, Keefe, Bruyette & Woods upped their target price on CNO Financial Group from $46.00 to $50.00 and gave the company a “market perform” rating in a research report on Tuesday, May 5th.

Insider Buying and Selling at CNO Financial Group

In other news, insider Scott L. Goldberg sold 11,060 shares of the company’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $39.97, for a total transaction of $442,068.20. Following the completion of the sale, the insider directly owned 214,524 shares in the company, valued at approximately $8,574,524.28. This represents a 4.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.44% of the company’s stock.

Institutional Trading of CNO Financial Group

Large investors have recently made changes to their positions in the company. Franklin Resources Inc. raised its position in CNO Financial Group by 1.0% during the third quarter. Franklin Resources Inc. now owns 4,302,316 shares of the financial services provider’s stock valued at $170,157,000 after purchasing an additional 42,467 shares in the last quarter. American Century Companies Inc. lifted its stake in CNO Financial Group by 3.8% during the third quarter. American Century Companies Inc. now owns 3,239,944 shares of the financial services provider’s stock worth $128,140,000 after purchasing an additional 118,417 shares during the last quarter. Pzena Investment Management LLC lifted its stake in CNO Financial Group by 0.3% during the first quarter. Pzena Investment Management LLC now owns 2,470,921 shares of the financial services provider’s stock worth $101,456,000 after purchasing an additional 8,053 shares during the last quarter. Morgan Stanley lifted its stake in CNO Financial Group by 20.5% during the fourth quarter. Morgan Stanley now owns 1,870,982 shares of the financial services provider’s stock worth $79,461,000 after purchasing an additional 317,690 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in CNO Financial Group by 8.3% during the first quarter. Principal Financial Group Inc. now owns 1,492,497 shares of the financial services provider’s stock worth $61,282,000 after purchasing an additional 114,000 shares during the last quarter. Institutional investors and hedge funds own 95.43% of the company’s stock.

CNO Financial Group Stock Performance

Shares of NYSE:CNO opened at $48.65 on Wednesday. The company’s 50 day moving average price is $44.85 and its two-hundred day moving average price is $42.88. CNO Financial Group has a 12-month low of $35.24 and a 12-month high of $48.82. The firm has a market cap of $4.54 billion, a PE ratio of 19.54 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 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 10th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Wednesday, June 10th. This is a positive change from CNO Financial Group’s previous quarterly dividend of $0.17. CNO Financial Group’s dividend payout ratio is currently 27.31%.

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.