CNO Financial Group (NYSE:CNO) Sets New 12-Month High – Time to Buy?

Shares of CNO Financial Group, Inc. (NYSE:CNO) hit a new 52-week high during trading on Tuesday . The company traded as high as $44.94 and last traded at $44.54, with a volume of 31757 shares traded. The stock had previously closed at $44.31.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $46.00 target price on shares of CNO Financial Group in a research report on Thursday, March 26th. Evercore reaffirmed an “underperform” rating and set a $43.00 target price on shares of CNO Financial Group in a research report on Wednesday, February 18th. Wall Street Zen lowered shares of CNO Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of CNO Financial Group in a research report on Monday, April 20th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $46.50.

CNO Financial Group Trading Down 0.5%

The firm has a market capitalization of $4.16 billion, a PE ratio of 19.92 and a beta of 0.83. The stock’s 50-day moving average price is $41.91 and its 200 day moving average price is $41.64. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.17 and a quick ratio of 0.17.

CNO Financial Group (NYSE:CNO) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.11. CNO Financial Group had a net margin of 4.94% and a return on equity of 15.80%. CNO Financial Group’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.79 earnings per share. On average, sell-side analysts expect that CNO Financial Group, Inc. will post 4.36 EPS for the current fiscal year.

CNO Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 24th. Investors of record on Tuesday, March 10th were paid a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $0.68 dividend on an annualized basis and a yield of 1.5%. CNO Financial Group’s payout ratio is 30.49%.

Insider Buying and Selling at CNO Financial Group

In related news, General Counsel Matthew J. Zimpfer sold 33,800 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $43.05, for a total value of $1,455,090.00. Following the completion of the transaction, the general counsel owned 307,937 shares of the company’s stock, valued at $13,256,687.85. The trade was a 9.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Gary C. Bhojwani sold 45,357 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $43.17, for a total transaction of $1,958,061.69. Following the completion of the transaction, the chief executive officer directly owned 320,547 shares of the company’s stock, valued at $13,838,013.99. This trade represents a 12.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 196,778 shares of company stock worth $8,442,863. 3.44% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CNO Financial Group

A number of large investors have recently bought and sold shares of the business. Franklin Resources Inc. raised its stake in CNO Financial Group by 1.0% in the third quarter. Franklin Resources Inc. now owns 4,302,316 shares of the financial services provider’s stock worth $170,157,000 after buying an additional 42,467 shares in the last quarter. American Century Companies Inc. boosted its stake in CNO Financial Group by 3.8% in the third quarter. American Century Companies Inc. now owns 3,239,944 shares of the financial services provider’s stock valued at $128,140,000 after acquiring an additional 118,417 shares in the last quarter. Pzena Investment Management LLC grew its holdings in CNO Financial Group by 0.3% in the first quarter. Pzena Investment Management LLC now owns 2,470,921 shares of the financial services provider’s stock worth $101,456,000 after purchasing an additional 8,053 shares during the last quarter. Morgan Stanley increased its position in shares of CNO Financial Group by 20.5% during the fourth quarter. Morgan Stanley now owns 1,870,982 shares of the financial services provider’s stock worth $79,461,000 after purchasing an additional 317,690 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of CNO Financial Group by 35.6% during the fourth quarter. AQR Capital Management LLC now owns 1,218,033 shares of the financial services provider’s stock worth $51,730,000 after purchasing an additional 319,795 shares in the last quarter. 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.