Gary Bhojwani Sells 86,048 Shares of CNO Financial Group (NYSE:CNO) Stock

CNO Financial Group, Inc. (NYSE:CNO) CEO Gary Bhojwani sold 86,048 shares of the stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $51.48, for a total value of $4,429,751.04. Following the completion of the transaction, the chief executive officer directly owned 174,264 shares in the company, valued at $8,971,110.72. This trade represents a 33.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CNO Financial Group Stock Down 0.1%

Shares of NYSE CNO opened at $52.35 on Friday. The company has a market capitalization of $4.89 billion, a price-to-earnings ratio of 21.03 and a beta of 0.81. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.17 and a quick ratio of 0.17. The business has a 50-day moving average of $48.12 and a two-hundred day moving average of $44.22. CNO Financial Group, Inc. has a 1 year low of $35.24 and a 1 year high of $53.03.

CNO Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 10th were given a dividend of $0.18 per share. This is a boost from CNO Financial Group’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $0.72 annualized dividend and a dividend yield of 1.4%. CNO Financial Group’s dividend payout ratio is 28.92%.

Institutional Trading of CNO Financial Group

Several institutional investors and hedge funds have recently made changes to their positions in CNO. Versant Capital Management Inc boosted its position in shares of 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 purchasing an additional 474 shares during the period. First Financial Bank Trust Division grew its stake in CNO Financial Group by 21.3% during the 2nd quarter. First Financial Bank Trust Division now owns 20,337 shares of the financial services provider’s stock worth $1,037,000 after buying an additional 3,574 shares during the last quarter. Empowered Funds LLC acquired a new position in CNO Financial Group during the first quarter worth approximately $570,000. Glenmede Trust Co. NA acquired a new position in CNO Financial Group during the first quarter worth approximately $201,000. Finally, Cim Investment Management Inc. increased its position in CNO Financial Group by 18.8% during the first quarter. Cim Investment Management Inc. now owns 13,301 shares of the financial services provider’s stock worth $546,000 after buying an additional 2,109 shares during the period. 95.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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.