CNO Financial Group (NYSE:CNO) Sets New 52-Week High – What’s Next?

CNO Financial Group, Inc. (NYSE:CNO)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $49.95 and last traded at $49.6760, with a volume of 652199 shares. The stock had previously closed at $48.70.

Wall Street Analysts Forecast Growth

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

CNO Financial Group Stock Performance

The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 1.61. The business’s 50 day moving average is $45.04 and its 200 day moving average is $42.95. The stock has a market capitalization of $4.64 billion, a PE ratio of 19.95 and a beta of 0.81.

CNO Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 24th. Investors of record on Wednesday, June 10th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from CNO Financial Group’s previous quarterly dividend of $0.17. CNO Financial Group’s dividend payout ratio is presently 27.31%.

Insiders Place Their Bets

In related news, insider Scott L. Goldberg sold 11,060 shares of CNO Financial Group stock in a transaction dated 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 owned 214,524 shares in the company, valued at $8,574,524.28. This trade represents a 4.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.44% of the stock is owned by insiders.

Institutional Investors Weigh In On CNO Financial Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNO. Optiver Holding B.V. lifted its holdings in CNO Financial Group by 90.1% during the 3rd quarter. Optiver Holding B.V. now owns 637 shares of the financial services provider’s stock valued at $25,000 after buying an additional 302 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings 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 buying an additional 579 shares in the last quarter. Richardson Financial Services Inc. bought a new stake in CNO Financial Group during the 4th quarter valued at about $37,000. EverSource Wealth Advisors LLC lifted its holdings in CNO Financial Group by 123.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,176 shares of the financial services provider’s stock valued at $45,000 after buying an additional 649 shares in the last quarter. Finally, Bessemer Group Inc. lifted its holdings in CNO Financial Group by 75.4% during the 1st quarter. Bessemer Group Inc. now owns 1,133 shares of the financial services provider’s stock valued at $46,000 after buying an additional 487 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.