CNO Financial Group (NYSE:CNO) Sets New 12-Month High – Here’s Why

CNO Financial Group, Inc. (NYSE:CNO)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $44.98 and last traded at $45.1410, with a volume of 18237 shares trading hands. The stock had previously closed at $44.63.

Wall Street Analyst Weigh In

CNO has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of CNO Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Keefe, Bruyette & Woods restated a “hold” rating and set a $46.00 price target on shares of CNO Financial Group in a research note on Thursday, March 26th. Evercore reaffirmed an “underperform” rating and issued a $43.00 price target on shares of CNO Financial Group in a report on Wednesday, February 18th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of CNO Financial Group in a research note on Monday, April 20th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, CNO Financial Group currently has an average rating of “Hold” and an average price target of $46.50.

CNO Financial Group Trading Up 1.0%

The company’s fifty day moving average is $41.91 and its two-hundred day moving average is $41.67. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.17 and a current ratio of 0.17. The company has a market cap of $4.22 billion, a price-to-earnings ratio of 18.10 and a beta of 0.82.

CNO Financial Group (NYSE:CNO) last posted its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.47 EPS for the quarter, beating the consensus estimate of $1.20 by $0.27. The company had revenue of $101.10 million for the quarter, compared to analyst estimates of $1 billion. CNO Financial Group had a net margin of 5.44% and a return on equity of 17.65%. The firm’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.18 earnings per share. On average, research analysts anticipate that CNO Financial Group, Inc. will post 4.36 EPS for the current year.

CNO Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, March 10th. CNO Financial Group’s dividend payout ratio is presently 27.31%.

Insider Activity at CNO Financial Group

In other news, insider Yvonne K. Franzese sold 9,000 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $43.17, for a total transaction of $388,530.00. Following the completion of the sale, the insider owned 35,062 shares of the company’s stock, valued at $1,513,626.54. The trade was a 20.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Matthew J. Zimpfer sold 33,800 shares of the company’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $43.05, for a total transaction of $1,455,090.00. Following the transaction, the general counsel owned 307,937 shares of the company’s stock, valued at approximately $13,256,687.85. This trade represents a 9.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 196,778 shares of company stock valued at $8,442,863. Insiders own 3.44% of the company’s stock.

Institutional Trading of CNO Financial Group

Institutional investors have recently made changes to their positions in the company. Optiver Holding B.V. lifted its holdings in CNO Financial Group by 90.1% in the 3rd quarter. Optiver Holding B.V. now owns 637 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 302 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of CNO Financial Group by 353.0% during 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 acquired a new stake in shares of CNO Financial Group in the third quarter valued at about $32,000. Richardson Financial Services Inc. purchased a new position in shares of CNO Financial Group in the fourth quarter worth about $37,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of CNO Financial Group by 123.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,176 shares of the financial services provider’s stock worth $45,000 after buying an additional 649 shares in the last quarter. 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.