CNO Financial Group (NYSE:CNO) Reaches New 12-Month High – What’s Next?

CNO Financial Group, Inc. (NYSE:CNO) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $51.22 and last traded at $50.97, with a volume of 545269 shares traded. The stock had previously closed at $50.41.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Keefe, Bruyette & Woods lifted their target price on shares of CNO Financial Group from $46.00 to $50.00 and gave the company a “market perform” rating in a research note on Tuesday, May 5th. Evercore set a $48.00 price target on CNO Financial Group and gave the stock an “in-line” rating in a research note on Monday, June 1st. Wall Street Zen downgraded CNO Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Finally, Weiss Ratings restated 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 and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, CNO Financial Group currently has an average rating of “Moderate Buy” and an average price target of $48.75.

CNO Financial Group Stock Performance

The firm’s 50-day moving average price is $46.16 and its 200-day moving average price is $43.36. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.17 and a quick ratio of 0.17. The stock has a market cap of $4.76 billion, a P/E ratio of 20.46 and a beta of 0.81.

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 issued a $0.18 dividend. The ex-dividend date is Wednesday, June 10th. This represents a $0.72 dividend on an annualized basis and a yield of 1.4%. This is an increase from CNO Financial Group’s previous quarterly dividend of $0.17. CNO Financial Group’s payout ratio is presently 28.92%.

Insider Buying and Selling

In other CNO Financial Group news, CMO Rocco F. Tarasi III sold 5,750 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $50.00, for a total value of $287,500.00. Following the sale, the chief marketing officer owned 79,191 shares in the company, valued at $3,959,550. The trade was a 6.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.44% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CNO Financial Group

Several large investors have recently made changes to their positions in the company. Royal Bank of Canada grew its holdings in CNO Financial Group by 29.5% during the 1st quarter. Royal Bank of Canada now owns 176,059 shares of the financial services provider’s stock valued at $7,332,000 after buying an additional 40,054 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of CNO Financial Group by 1.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,757 shares of the financial services provider’s stock worth $2,531,000 after acquiring an additional 797 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of CNO Financial Group by 5.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 376,747 shares of the financial services provider’s stock worth $15,692,000 after acquiring an additional 20,728 shares in the last quarter. Jane Street Group LLC boosted its position in shares of CNO Financial Group by 146.4% during the 1st quarter. Jane Street Group LLC now owns 149,159 shares of the financial services provider’s stock valued at $6,212,000 after acquiring an additional 88,619 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in shares of CNO Financial Group by 637.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,438 shares of the financial services provider’s stock valued at $60,000 after acquiring an additional 1,243 shares during the last quarter. 95.43% of the stock is owned by 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.