CNO Financial Group (NYSE:CNO) Insider Sells $215,976.09 in Stock

CNO Financial Group, Inc. (NYSE:CNO) insider Jeanne Linnenbringer sold 3,919 shares of the business’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $55.11, for a total transaction of $215,976.09. Following the sale, the insider directly owned 26,209 shares in the company, valued at $1,444,377.99. This trade represents a 13.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CNO Financial Group Stock Performance

Shares of CNO opened at $56.67 on Friday. The stock has a 50-day moving average of $53.85 and a two-hundred day moving average of $47.83. CNO Financial Group, Inc. has a one year low of $38.22 and a one year high of $57.59. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.17 and a current ratio of 0.17. The stock has a market cap of $5.24 billion, a P/E ratio of 19.47 and a beta of 0.80.

CNO Financial Group (NYSE:CNO) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.26 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $999.45 million. During the same quarter in the previous year, the business earned $0.87 EPS. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, research analysts predict that CNO Financial Group, Inc. will post 4.74 EPS for the current year.

CNO Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $0.72 dividend on an annualized basis and a yield of 1.3%. CNO Financial Group’s dividend payout ratio (DPR) is currently 24.74%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Evercore set a $48.00 price objective on shares of CNO Financial Group and gave the stock an “in-line” rating in a research note on Monday, June 1st. Keefe, Bruyette & Woods boosted their target price on shares of CNO Financial Group from $53.00 to $57.00 and gave the company a “market perform” rating in a research report on Monday, August 3rd. Weiss Ratings raised shares of CNO Financial Group from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, August 11th. Jefferies Financial Group downgraded CNO Financial Group from a “buy” rating to a “hold” rating and increased their price target for the stock from $53.00 to $55.00 in a research report on Friday, July 10th. Finally, Capital One Financial set a $70.00 price objective on CNO Financial Group in a research note on Wednesday, August 26th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $56.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNO. Nykredit A S acquired a new position in shares of CNO Financial Group in the second quarter worth about $39,000. EverSource Wealth Advisors LLC increased its stake in shares of CNO Financial Group by 123.1% in 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 in 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 buying an additional 487 shares during the period. Osaic Holdings Inc. raised its position 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. Finally, Versant Capital Management Inc lifted its stake in 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 valued at $58,000 after buying an additional 474 shares in the last quarter. Hedge funds and other institutional investors own 95.43% of the company’s stock.

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.