CNO Financial Group (NYSE:CNO) Insider Karen Detoro Sells 9,336 Shares of Stock

CNO Financial Group, Inc. (NYSE:CNO) insider Karen Detoro sold 9,336 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $54.73, for a total value of $510,959.28. Following the sale, the insider owned 42,414 shares of the company’s stock, valued at $2,321,318.22. The trade was a 18.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CNO Financial Group Price Performance

Shares of CNO traded up $0.79 during midday trading on Wednesday, hitting $55.33. The company’s stock had a trading volume of 672,027 shares, compared to its average volume of 722,595. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 1.65. CNO Financial Group, Inc. has a one year low of $38.22 and a one year high of $57.59. The stock has a market capitalization of $5.12 billion, a price-to-earnings ratio of 19.01 and a beta of 0.80. The company’s fifty day simple moving average is $53.61 and its two-hundred day simple moving average is $47.59.

CNO Financial Group (NYSE:CNO) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.26 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.29. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $999.45 million. CNO Financial Group had a return on equity of 18.76% and a net margin of 6.02%.CNO Financial Group’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.87 EPS. As a group, equities analysts expect that CNO Financial Group, Inc. will post 4.74 earnings per share for the current fiscal year.

CNO Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.3%. CNO Financial Group’s dividend payout ratio is 24.74%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Weiss Ratings upgraded shares of CNO Financial Group from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday, August 11th. Capital One Financial set a $70.00 price target on shares of CNO Financial Group in a report on Wednesday, August 26th. Jefferies Financial Group cut CNO Financial Group from a “buy” rating to a “hold” rating and increased their price target for the company from $53.00 to $55.00 in a research note on Friday, July 10th. Evercore set a $48.00 price objective on CNO Financial Group and gave the stock an “in-line” rating in a research report on Monday, June 1st. Finally, Keefe, Bruyette & Woods increased their target price on CNO Financial Group from $53.00 to $57.00 and gave the company a “market perform” rating in a research report on Monday, August 3rd. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $56.00.

Hedge Funds Weigh In On CNO Financial Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in CNO. Royal Bank of Canada increased its position in CNO Financial Group by 29.5% in 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 acquiring an additional 40,054 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of CNO Financial Group by 1.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,757 shares of the financial services provider’s stock worth $2,531,000 after purchasing an additional 797 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in CNO Financial Group by 5.8% in the first 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 valued at $15,692,000 after purchasing an additional 20,728 shares during the period. Jane Street Group LLC raised its position in 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 worth $6,212,000 after purchasing an additional 88,619 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its position in 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 worth $60,000 after purchasing an additional 1,243 shares during the last quarter. 95.43% of the stock is currently 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.