CNO Financial Group (NYSE:CNO) Shares Up 4.8% – Here’s Why

CNO Financial Group, Inc. (NYSE:CNO) shares were up 4.8% during trading on Monday . The company traded as high as $43.04 and last traded at $43.2350. Approximately 52,381 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 692,819 shares. The stock had previously closed at $41.24.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CNO shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of CNO Financial Group in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods raised their price objective on CNO Financial Group from $44.00 to $45.00 and gave the company a “market perform” rating in a report on Thursday, October 9th. Jefferies Financial Group raised CNO Financial Group from a “hold” rating to a “buy” rating and upped their target price for the stock from $42.00 to $47.00 in a research note on Monday. Finally, Wall Street Zen raised shares of CNO Financial Group from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, CNO Financial Group currently has a consensus rating of “Moderate Buy” and an average price target of $44.80.

CNO Financial Group Price Performance

The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.45. The business’s 50 day moving average price is $40.25 and its two-hundred day moving average price is $38.88. The stock has a market cap of $4.07 billion, a P/E ratio of 14.94 and a beta of 0.86.

CNO Financial Group (NYSE:CNO) last posted its quarterly earnings data on Friday, May 19th. The financial services provider reported $0.84 earnings per share for the quarter. CNO Financial Group had a return on equity of 15.81% and a net margin of 6.64%.The business had revenue of $968.30 million for the quarter. As a group, sell-side analysts expect that CNO Financial Group, Inc. will post 3.83 earnings per share for the current fiscal year.

CNO Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Wednesday, December 10th will be issued a $0.17 dividend. The ex-dividend date is Wednesday, December 10th. This represents a $0.68 dividend on an annualized basis and a yield of 1.6%. CNO Financial Group’s dividend payout ratio is 23.78%.

Insider Activity at CNO Financial Group

In other news, CIO Eric R. Johnson sold 48,665 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $41.24, for a total value of $2,006,944.60. Following the sale, the executive directly owned 671,542 shares of the company’s stock, valued at $27,694,392.08. This represents a 6.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.38% of the company’s stock.

Hedge Funds Weigh In On CNO Financial Group

Several large investors have recently modified their holdings of CNO. Hudson Bay Capital Management LP grew its position in CNO Financial Group by 1.4% during the 3rd quarter. Hudson Bay Capital Management LP now owns 280,045 shares of the financial services provider’s stock valued at $11,076,000 after purchasing an additional 3,959 shares during the last quarter. Tudor Investment Corp ET AL grew its holdings in shares of CNO Financial Group by 16.5% during the third quarter. Tudor Investment Corp ET AL now owns 441,205 shares of the financial services provider’s stock valued at $17,450,000 after buying an additional 62,615 shares during the last quarter. Cambria Investment Management L.P. increased its position in shares of CNO Financial Group by 20.4% during the third quarter. Cambria Investment Management L.P. now owns 16,270 shares of the financial services provider’s stock valued at $643,000 after acquiring an additional 2,762 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new position in CNO Financial Group in the 3rd quarter worth approximately $406,000. Finally, Jacobs Levy Equity Management Inc. raised its holdings in CNO Financial Group by 0.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 494,955 shares of the financial services provider’s stock worth $19,575,000 after acquiring an additional 2,950 shares during the last quarter. Hedge funds and other institutional investors own 95.43% of the company’s stock.

About CNO Financial Group

CNO Financial Group, Inc, through its subsidiaries, develops, markets, and administers health insurance, annuity, individual life insurance, insurance products, and financial services for senior and middle-income markets in the United States. It offers Medicare supplement, supplemental health, and long-term care insurance policies; life insurance; and annuities, as well as Medicare advantage plans to individuals through phone, online, mail, and face-to-face.