CNO Financial Group, Inc. (NYSE:CNO) Insider Sells $1,020,510.00 in Stock

CNO Financial Group, Inc. (NYSE:CNO) insider Scott L. Goldberg sold 25,500 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $40.02, for a total value of $1,020,510.00. Following the completion of the sale, the insider now owns 169,342 shares in the company, valued at $6,777,066.84. The trade was a 13.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

CNO Financial Group Stock Performance

Shares of CNO opened at $39.65 on Friday. The business’s fifty day simple moving average is $39.38 and its two-hundred day simple moving average is $37.25. The company has a market cap of $4.00 billion, a price-to-earnings ratio of 10.60 and a beta of 1.02. The company has a current ratio of 0.22, a quick ratio of 0.19 and a debt-to-equity ratio of 1.61. CNO Financial Group, Inc. has a 12 month low of $24.92 and a 12 month high of $42.41.

CNO Financial Group (NYSE:CNO) last released its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.25. CNO Financial Group had a return on equity of 17.20% and a net margin of 9.08%. Research analysts anticipate that CNO Financial Group, Inc. will post 3.83 earnings per share for the current fiscal year.

CNO Financial Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.64 annualized dividend and a dividend yield of 1.61%. CNO Financial Group’s payout ratio is 17.11%.

Hedge Funds Weigh In On CNO Financial Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Pacer Advisors Inc. lifted its holdings in shares of CNO Financial Group by 58.7% during the 4th quarter. Pacer Advisors Inc. now owns 24,580 shares of the financial services provider’s stock valued at $915,000 after buying an additional 9,096 shares during the period. Principal Financial Group Inc. raised its holdings in CNO Financial Group by 6.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,899,599 shares of the financial services provider’s stock worth $66,676,000 after purchasing an additional 107,589 shares during the period. Allianz Asset Management GmbH raised its holdings in CNO Financial Group by 1.3% in the 4th quarter. Allianz Asset Management GmbH now owns 848,407 shares of the financial services provider’s stock worth $31,569,000 after purchasing an additional 10,846 shares during the period. BNP Paribas Financial Markets raised its holdings in CNO Financial Group by 69.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 39,946 shares of the financial services provider’s stock worth $1,402,000 after purchasing an additional 16,420 shares during the period. Finally, Congress Asset Management Co. raised its holdings in CNO Financial Group by 5.9% in the 4th quarter. Congress Asset Management Co. now owns 157,004 shares of the financial services provider’s stock worth $5,842,000 after purchasing an additional 8,689 shares during the period. 95.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CNO. BMO Capital Markets began coverage on CNO Financial Group in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $38.00 price target on the stock. Royal Bank of Canada upped their price target on CNO Financial Group from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, February 10th. Piper Sandler reiterated an “overweight” rating and set a $46.00 target price (up from $44.00) on shares of CNO Financial Group in a research note on Monday, February 10th. Jefferies Financial Group increased their target price on CNO Financial Group from $36.00 to $41.00 and gave the company a “hold” rating in a research note on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods increased their target price on CNO Financial Group from $42.00 to $44.00 and gave the company a “market perform” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, CNO Financial Group has a consensus rating of “Hold” and a consensus target price of $40.50.

About CNO Financial Group

CNO Financial Group, Inc, through its subsidiaries, develops, markets, and administers health insurance, annuity, individual life insurance, insurance products, and financial services for senior and middle-income markets in the United States. It offers Medicare supplement, supplemental health, and long-term care insurance policies; life insurance; and annuities, as well as Medicare advantage plans to individuals through phone, online, mail, and face-to-face.