CNO Financial Group (NYSE:CNO) Hits New 52-Week High – Time to Buy?

CNO Financial Group, Inc. (NYSE:CNO)’s stock price reached a new 52-week high on Friday . The company traded as high as $48.10 and last traded at $47.8690, with a volume of 285859 shares traded. The stock had previously closed at $47.12.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CNO shares. Keefe, Bruyette & Woods increased their price target on shares of CNO Financial Group from $46.00 to $50.00 and gave the company a “market perform” rating in a research report on Tuesday, May 5th. Wall Street Zen lowered 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 target price on shares of CNO Financial Group and gave the company an “in-line” rating in a report on Monday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of CNO Financial Group in a research report on Monday, April 20th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, CNO Financial Group presently has an average rating of “Moderate Buy” and an average target price of $48.75.

CNO Financial Group Trading Up 1.6%

The firm has a 50-day moving average of $44.38 and a 200-day moving average of $42.71. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.17 and a current ratio of 0.17. The firm has a market capitalization of $4.47 billion, a P/E ratio of 19.22 and a beta of 0.81.

CNO Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 10th will be issued a $0.18 dividend. 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 1.5%. The ex-dividend date is Wednesday, June 10th. CNO Financial Group’s dividend payout ratio (DPR) is 28.92%.

Insider Activity at CNO Financial Group

In related news, insider Scott L. Goldberg sold 11,060 shares of the company’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $39.97, for a total transaction of $442,068.20. Following the completion of the sale, the insider directly owned 214,524 shares in the company, valued at $8,574,524.28. This represents a 4.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.44% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CNO Financial Group

Several hedge funds and other institutional investors have recently modified their holdings of CNO. Optiver Holding B.V. grew its stake in shares of CNO Financial Group by 90.1% in the third quarter. Optiver Holding B.V. now owns 637 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 302 shares during the last quarter. Smartleaf Asset Management LLC raised its position in CNO Financial Group by 353.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 743 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 579 shares during the last quarter. Richardson Financial Services Inc. purchased a new stake in CNO Financial Group in the 4th quarter worth approximately $37,000. EverSource Wealth Advisors LLC lifted its holdings in CNO Financial Group by 123.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,176 shares of the financial services provider’s stock worth $45,000 after buying an additional 649 shares during the period. Finally, Bessemer Group Inc. grew its position in shares of CNO Financial Group by 75.4% in the 1st quarter. Bessemer Group Inc. now owns 1,133 shares of the financial services provider’s stock worth $46,000 after buying an additional 487 shares during the last quarter. 95.43% of the stock is owned by institutional investors.

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.