CNO Financial Group (NYSE:CNO) Reaches New 52-Week High – Here’s Why

Shares of CNO Financial Group, Inc. (NYSE:CNO) reached a new 52-week high on Thursday. The company traded as high as $59.15 and last traded at $58.62, with a volume of 22,035 shares changing hands. The stock had previously closed at $57.73.

Analysts Set New Price Targets

CNO has been the topic of a number of analyst reports. Zacks Research upgraded shares of CNO Financial Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 20th. Jefferies Financial Group downgraded shares of CNO Financial Group from a “buy” rating to a “hold” rating and upped their target price for the stock from $53.00 to $55.00 in a research note on Friday, July 10th. Weiss Ratings downgraded shares of CNO Financial Group from a “buy (a)” rating to a “buy (a-)” rating in a report on Friday, October 23rd. Wall Street Zen lowered CNO Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Keefe, Bruyette & Woods increased their target price on CNO Financial Group from $53.00 to $57.00 and gave the company a “market perform” rating in a report on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, CNO Financial Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.00.

CNO Financial Group Stock Down 1.8%

The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 1.95. The company’s fifty day moving average is $54.79 and its 200-day moving average is $48.86. The company has a market cap of $5.12 billion, a PE ratio of 12.65 and a beta of 0.80.

CNO Financial Group (NYSE:CNO) last posted its quarterly earnings results on Thursday, October 29th. The financial services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.80. CNO Financial Group had a return on equity of 22.64% and a net margin of 9.19%. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the business earned $1.29 EPS. On average, analysts predict that CNO Financial Group, Inc. will post 5.56 EPS for the current year.

Insiders Place Their Bets

In related news, insider Jeremy Williams sold 4,362 shares of the business’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $55.72, for a total transaction of $243,050.64. Following the transaction, the insider owned 61,041 shares of the company’s stock, valued at approximately $3,401,204.52. The trade was a 6.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeanne Linnenbringer sold 3,919 shares of CNO Financial Group stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $55.11, for a total value of $215,976.09. Following the completion of the sale, the insider directly owned 26,209 shares in the company, valued at approximately $1,444,377.99. This represents a 13.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 47,995 shares of company stock worth $2,641,336. 3.44% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ibex Wealth Advisors boosted its holdings in shares of CNO Financial Group by 15.5% during the 3rd quarter. Ibex Wealth Advisors now owns 23,673 shares of the financial services provider’s stock worth $1,253,000 after purchasing an additional 3,184 shares during the last quarter. Lido Advisors LLC raised its stake in CNO Financial Group by 15.1% during the third quarter. Lido Advisors LLC now owns 6,189 shares of the financial services provider’s stock worth $327,000 after acquiring an additional 811 shares during the period. Keybank National Association OH bought a new stake in CNO Financial Group during the third quarter worth approximately $354,000. Fulcrum Asset Management LLP acquired a new position in CNO Financial Group in the third quarter worth approximately $139,000. Finally, Brighton Jones LLC increased its position in shares of CNO Financial Group by 4.7% during the third quarter. Brighton Jones LLC now owns 7,514 shares of the financial services provider’s stock valued at $398,000 after purchasing an additional 339 shares during the period. 95.43% of the stock is currently owned by hedge funds and other institutional investors.

About CNO Financial Group

CNO Financial Group, Inc is a holding company for a group of insurance and financial services businesses focused on serving middle-income Americans, particularly individuals approaching or in retirement. Through its operating companies, CNO provides products designed to help customers protect income, manage health care expenses and prepare for retirement.

CNO’s principal brands include Bankers Life, Colonial Penn and Washington National. Its offerings include life insurance, annuities, supplemental health insurance, Medicare supplement insurance and other insurance products.