CNO Financial Group (NYSE:CNO) Insider Sells $328,735.68 in Stock

CNO Financial Group, Inc. (NYSE:CNO) insider Karen DeToro sold 5,964 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $55.12, for a total transaction of $328,735.68. Following the sale, the insider directly owned 36,450 shares of the company’s stock, valued at $2,009,124. This represents a 14.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CNO Financial Group Stock Performance

CNO Financial Group stock opened at $56.67 on Friday. CNO Financial Group, Inc. has a fifty-two week low of $38.22 and a fifty-two week high of $57.59. The firm’s 50 day simple moving average is $53.85 and its 200-day simple moving average is $47.83. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.17 and a quick ratio of 0.17. The company has a market cap of $5.24 billion, a P/E ratio of 19.47 and a beta of 0.80.

CNO Financial Group (NYSE:CNO) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.26 EPS for the quarter, beating 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 net margin of 6.02% and a return on equity of 18.76%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.87 EPS. As a group, equities research analysts predict that CNO Financial Group, Inc. will post 4.74 EPS for the current year.

CNO Financial Group Dividend Announcement

The firm also recently disclosed 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%.

Analyst Ratings Changes

CNO has been the subject of a number of research analyst reports. Evercore set a $48.00 price target on shares of CNO Financial Group and gave the stock an “in-line” rating in a research report on Monday, June 1st. Weiss Ratings raised shares of CNO Financial Group from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday, August 11th. Wall Street Zen upgraded shares of CNO Financial Group from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Capital One Financial set a $70.00 target price on shares of CNO Financial Group in a research note on Wednesday, August 26th. Finally, Jefferies Financial Group cut shares of CNO Financial Group from a “buy” rating to a “hold” rating and boosted their price target for the company from $53.00 to $55.00 in a report on Friday, July 10th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $56.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CNO. Corient Private Wealth LP lifted its stake in shares of CNO Financial Group by 2.6% in the 2nd quarter. Corient Private Wealth LP now owns 44,104 shares of the financial services provider’s stock valued at $2,248,000 after purchasing an additional 1,117 shares during the last quarter. Amundi increased its position in CNO Financial Group by 8.8% during the second quarter. Amundi now owns 19,141 shares of the financial services provider’s stock worth $976,000 after buying an additional 1,545 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in CNO Financial Group during the second quarter valued at about $311,000. California State Teachers Retirement System lifted its position in shares of CNO Financial Group by 4,851.5% in the second quarter. California State Teachers Retirement System now owns 5,354,939 shares of the financial services provider’s stock worth $272,995,000 after buying an additional 5,246,791 shares during the last quarter. Finally, HB Wealth Management LLC acquired a new stake in shares of CNO Financial Group in the second quarter worth about $304,000. Institutional investors own 95.43% of the company’s stock.

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.