Gary Bhojwani Sells 43,021 Shares of CNO Financial Group (NYSE:CNO) Stock

CNO Financial Group, Inc. (NYSE:CNO) CEO Gary Bhojwani sold 43,021 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $43.05, for a total transaction of $1,852,054.05. Following the transaction, the chief executive officer directly owned 277,526 shares of the company’s stock, valued at $11,947,494.30. This represents a 13.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

CNO Financial Group Stock Down 0.3%

Shares of NYSE CNO traded down $0.13 during midday trading on Wednesday, reaching $42.99. The company’s stock had a trading volume of 850,597 shares, compared to its average volume of 687,941. The stock has a 50 day simple moving average of $42.55 and a 200-day simple moving average of $40.59. The company has a current ratio of 0.17, a quick ratio of 0.18 and a debt-to-equity ratio of 1.43. The stock has a market capitalization of $4.10 billion, a price-to-earnings ratio of 19.28 and a beta of 0.84. CNO Financial Group, Inc. has a fifty-two week low of $34.63 and a fifty-two week high of $44.85.

CNO Financial Group (NYSE:CNO) last released its earnings results on Thursday, February 5th. The financial services provider reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.27. CNO Financial Group had a net margin of 4.94% and a return on equity of 15.80%. The business had revenue of $101.10 million during the quarter, compared to the consensus estimate of $1 billion. During the same quarter last year, the firm earned $1.18 earnings per share. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. Equities research analysts predict that CNO Financial Group, Inc. will post 3.83 earnings per share for the current year.

CNO Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th will be issued a $0.17 dividend. The ex-dividend date is Tuesday, March 10th. This represents a $0.68 annualized dividend and a dividend yield of 1.6%. CNO Financial Group’s dividend payout ratio (DPR) is presently 30.49%.

Analyst Ratings Changes

Several research analysts recently commented on CNO shares. Weiss Ratings reissued a “buy (b)” rating on shares of CNO Financial Group in a research report on Wednesday, January 21st. Evercore reiterated an “underperform” rating and set a $43.00 price objective on shares of CNO Financial Group in a research note on Wednesday. Wall Street Zen downgraded CNO Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Jefferies Financial Group upgraded shares of CNO Financial Group from a “hold” rating to a “buy” rating and boosted their target price for the stock from $42.00 to $47.00 in a report on Monday, December 15th. Finally, Piper Sandler increased their price target on shares of CNO Financial Group from $46.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, December 23rd. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, CNO Financial Group has a consensus rating of “Hold” and a consensus price target of $46.25.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV lifted its holdings in CNO Financial Group by 6.1% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 111,894 shares of the financial services provider’s stock valued at $4,752,000 after purchasing an additional 6,473 shares during the last quarter. EP Wealth Advisors LLC acquired a new stake in shares of CNO Financial Group during the 4th quarter worth about $562,000. Mackenzie Financial Corp boosted its holdings in shares of CNO Financial Group by 6.0% during the 4th quarter. Mackenzie Financial Corp now owns 21,788 shares of the financial services provider’s stock worth $930,000 after buying an additional 1,228 shares during the period. XTX Topco Ltd bought a new stake in shares of CNO Financial Group during the 4th quarter worth about $1,708,000. Finally, Tudor Investment Corp ET AL grew its stake in CNO Financial Group by 6.6% in the 4th quarter. Tudor Investment Corp ET AL now owns 470,129 shares of the financial services provider’s stock valued at $19,966,000 after buying an additional 28,924 shares during the last quarter. 95.43% of the stock is owned by institutional investors and hedge funds.

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.