CNO Financial Group (NYSE:CNO) Reaches New 52-Week High – Here’s Why

CNO Financial Group, Inc. (NYSE:CNO) reached a new 52-week high on Monday . The stock traded as high as $47.95 and last traded at $47.8750, with a volume of 33594 shares changing hands. The stock had previously closed at $46.82.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CNO shares. Weiss Ratings reiterated a “buy (b)” rating on shares of CNO Financial Group in a research report on Monday, April 20th. Wall Street Zen downgraded CNO Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Keefe, Bruyette & Woods boosted their price objective on 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. Finally, Evercore restated an “underperform” rating and issued a $43.00 price objective on shares of CNO Financial Group in a research report on Wednesday, February 18th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $47.50.

CNO Financial Group Stock Up 1.8%

The company has a 50-day moving average price of $42.60 and a 200 day moving average price of $42.09. The firm has a market capitalization of $4.45 billion, a PE ratio of 19.14 and a beta of 0.82. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.17 and a quick ratio of 0.17.

CNO Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 10th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.5%. The ex-dividend date is Wednesday, June 10th. This is an increase from CNO Financial Group’s previous quarterly dividend of $0.17. CNO Financial Group’s dividend payout ratio is presently 28.92%.

Insider Transactions at CNO Financial Group

In related news, insider Yvonne K. Franzese sold 9,000 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $43.17, for a total value of $388,530.00. Following the sale, the insider directly owned 35,062 shares in the company, valued at approximately $1,513,626.54. The trade was a 20.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Matthew J. Zimpfer sold 33,800 shares of the business’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $43.05, for a total value of $1,455,090.00. Following the completion of the sale, the general counsel owned 307,937 shares in the company, valued at $13,256,687.85. This represents a 9.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 165,808 shares of company stock valued at $7,113,321 over the last three months. Corporate insiders own 3.44% of the company’s stock.

Institutional Investors Weigh In On CNO Financial Group

A number of hedge funds have recently made changes to their positions in CNO. Optiver Holding B.V. lifted its position 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 buying an additional 302 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of CNO Financial Group by 353.0% in the third quarter. Smartleaf Asset Management LLC now owns 743 shares of the financial services provider’s stock worth $29,000 after buying an additional 579 shares in the last quarter. First Horizon Corp purchased a new stake in shares of CNO Financial Group in the third quarter worth about $32,000. Richardson Financial Services Inc. purchased a new stake in CNO Financial Group during the fourth quarter valued at approximately $37,000. Finally, EverSource Wealth Advisors LLC raised its position in CNO Financial Group by 123.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,176 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 649 shares during the period. 95.43% of the stock is currently owned by hedge funds and other institutional investors.

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.