CNO Financial Group (NYSE:CNO) Insider Sells $360,734.40 in Stock

CNO Financial Group, Inc. (NYSE:CNO) insider Jeanne Linnenbringer sold 6,560 shares of CNO Financial Group stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $54.99, for a total value of $360,734.40. Following the sale, the insider owned 34,188 shares of the company’s stock, valued at approximately $1,879,998.12. This trade represents a 16.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CNO Financial Group Price Performance

CNO stock traded up $0.79 during midday trading on Wednesday, reaching $55.33. The company had a trading volume of 672,027 shares, compared to its average volume of 722,595. The firm has a 50-day moving average price of $53.61 and a 200-day moving average price of $47.59. The company has a market capitalization of $5.12 billion, a P/E ratio of 19.01 and a beta of 0.80. CNO Financial Group, Inc. has a 1 year low of $38.22 and a 1 year high of $57.59. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.17 and a quick ratio of 0.17.

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

CNO Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, September 10th. This represents a $0.72 dividend on an annualized basis and a yield of 1.3%. CNO Financial Group’s dividend payout ratio (DPR) is presently 24.74%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CNO shares. Wall Street Zen upgraded CNO Financial Group from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Evercore set a $48.00 target price on CNO Financial Group and gave the stock an “in-line” rating in a research report on Monday, June 1st. Keefe, Bruyette & Woods upped their target price on CNO Financial Group from $53.00 to $57.00 and gave the stock a “market perform” rating in a research note on Monday, August 3rd. Weiss Ratings raised CNO Financial Group from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday, August 11th. Finally, Capital One Financial set a $70.00 price target on shares of CNO Financial Group in a research note on Wednesday, August 26th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $56.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Nykredit A S bought a new position in shares of CNO Financial Group during the second quarter valued at about $39,000. Versant Capital Management Inc lifted its stake in shares of CNO Financial Group by 72.0% in the 2nd quarter. Versant Capital Management Inc now owns 1,132 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 474 shares during the last quarter. Bessemer Group Inc. boosted 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 acquiring an additional 487 shares during the period. EverSource Wealth Advisors LLC boosted 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 acquiring an additional 649 shares during the period. Finally, Osaic Holdings Inc. grew its position in CNO Financial Group by 39.2% during the 2nd quarter. Osaic Holdings Inc. now owns 1,194 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 336 shares during the last quarter. 95.43% of the stock is owned by institutional investors.

About CNO Financial Group

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.