CNO Financial Group, Inc. (NYSE:CNO) Receives Consensus Rating of “Moderate Buy” from Brokerages

CNO Financial Group, Inc. (NYSE:CNO) has been given an average recommendation of “Moderate Buy” by the five analysts that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $48.75.

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

CNO Financial Group Stock Performance

CNO Financial Group stock traded down $0.07 during mid-day trading on Friday, reaching $52.35. The company’s stock had a trading volume of 628,229 shares, compared to its average volume of 877,102. The company has a market capitalization of $4.89 billion, a P/E ratio of 21.03 and a beta of 0.81. The firm’s fifty day moving average price is $48.12 and its two-hundred day moving average price is $44.22. CNO Financial Group has a 12-month low of $35.24 and a 12-month high of $53.03. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.17 and a current ratio of 0.17.

CNO Financial Group Increases Dividend

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

Insider Activity at CNO Financial Group

In other news, CEO Gary C. Bhojwani sold 86,048 shares of the firm’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $51.48, for a total transaction of $4,429,751.04. Following the sale, the chief executive officer owned 174,264 shares in the company, valued at approximately $8,971,110.72. This trade represents a 33.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Rocco F. Tarasi III sold 5,750 shares of CNO Financial Group stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $50.00, for a total transaction of $287,500.00. Following the sale, the chief marketing officer directly owned 79,191 shares of the company’s stock, valued at $3,959,550. This represents a 6.77% decrease in their ownership of the stock. 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. Over the last 90 days, insiders sold 95,106 shares of company stock worth $4,879,343. 3.44% of the stock is owned by company insiders.

Institutional Investors Weigh In On CNO Financial Group

A number of large investors have recently added to or reduced their stakes in CNO. Osaic Holdings Inc. raised its holdings in shares of CNO Financial Group by 39.2% during the 2nd quarter. Osaic Holdings Inc. now owns 1,194 shares of the financial services provider’s stock valued at $46,000 after buying an additional 336 shares in the last quarter. Signaturefd LLC grew its position in CNO Financial Group by 18.7% during the fourth quarter. Signaturefd LLC now owns 2,217 shares of the financial services provider’s stock valued at $94,000 after acquiring an additional 349 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in CNO Financial Group by 32.1% during the third quarter. EverSource Wealth Advisors LLC now owns 1,553 shares of the financial services provider’s stock valued at $61,000 after acquiring an additional 377 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of CNO Financial Group by 25.0% during the fourth quarter. Fifth Third Bancorp now owns 1,888 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 377 shares in the last quarter. Finally, Greenleaf Trust raised its stake in shares of CNO Financial Group by 2.5% during the fourth quarter. Greenleaf Trust now owns 15,529 shares of the financial services provider’s stock worth $660,000 after acquiring an additional 384 shares in the last quarter. Hedge funds and other institutional investors own 95.43% of the company’s stock.

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.