CNO Financial Group (NYSE:CNO) Insider Sells 3,919 Shares of Stock

CNO Financial Group, Inc. (NYSE:CNO) insider Jeanne Linnenbringer sold 3,919 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $55.11, for a total value of $215,976.09. Following the transaction, the insider owned 26,209 shares of the company’s stock, valued at $1,444,377.99. This represents a 13.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CNO Financial Group Price Performance

Shares of NYSE:CNO traded up $0.79 on Wednesday, hitting $55.33. The stock had a trading volume of 672,027 shares, compared to its average volume of 722,595. The firm’s 50 day moving average price is $53.61 and its 200-day moving average price is $47.59. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.17 and a current ratio of 0.17. CNO Financial Group, Inc. has a twelve month low of $38.22 and a twelve month high of $57.59. The company has a market capitalization of $5.12 billion, a price-to-earnings ratio of 19.01 and a beta of 0.80.

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

CNO Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors 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 is 24.74%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CNO. Evercore set a $48.00 price objective on CNO Financial Group and gave the company an “in-line” rating in a research report on Monday, June 1st. Jefferies Financial Group lowered CNO Financial Group from a “buy” rating to a “hold” rating and raised their target price for the company from $53.00 to $55.00 in a research note on Friday, July 10th. Keefe, Bruyette & Woods lifted their price target on CNO Financial Group from $53.00 to $57.00 and gave the company a “market perform” rating in a report on Monday, August 3rd. 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. Finally, Capital One Financial set a $70.00 price objective on shares of CNO Financial Group in a report on Wednesday, August 26th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $56.00.

Institutional Investors Weigh In On CNO Financial Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Louisiana State Employees Retirement System bought a new position in CNO Financial Group in the first quarter valued at about $1,125,000. Callan Family Office LLC bought a new stake in CNO Financial Group during the 2nd quarter worth about $1,089,000. BlackRock Inc. bought a new stake in CNO Financial Group during the 2nd quarter worth about $682,433,000. Hsbc Holdings PLC lifted its position in CNO Financial Group by 102.1% during the 4th quarter. Hsbc Holdings PLC now owns 45,025 shares of the financial services provider’s stock valued at $1,914,000 after purchasing an additional 22,749 shares during the period. Finally, Deutsche Bank AG bought a new position in shares of CNO Financial Group in the 2nd quarter valued at about $6,545,000. 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.