Insider Selling: CNO Financial Group (NYSE:CNO) CEO Sells $4,429,751.04 in Stock

CNO Financial Group, Inc. (NYSE:CNO) CEO Gary Bhojwani sold 86,048 shares of the firm’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $51.48, for a total transaction of $4,429,751.04. Following the completion of the sale, the chief executive officer owned 174,264 shares of the company’s stock, valued at $8,971,110.72. The trade was a 33.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 Trading Down 0.1%

CNO opened at $52.35 on Friday. The company has a fifty day moving average price of $48.12 and a two-hundred day moving average price of $44.22. CNO Financial Group, Inc. has a 1-year low of $35.24 and a 1-year high of $53.03. The company has a market cap of $4.89 billion, a P/E ratio of 21.03 and a beta of 0.81. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 1.61.

CNO Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 24th. Investors of record on Wednesday, June 10th were paid a dividend of $0.18 per share. This is an increase from CNO Financial Group’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $0.72 dividend on an annualized basis and a yield of 1.4%. CNO Financial Group’s dividend payout ratio (DPR) is currently 28.92%.

Hedge Funds Weigh In On CNO Financial Group

Several large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its stake in shares of CNO Financial Group by 29.5% in the first quarter. Royal Bank of Canada now owns 176,059 shares of the financial services provider’s stock worth $7,332,000 after purchasing an additional 40,054 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of CNO Financial Group by 1.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,757 shares of the financial services provider’s stock valued at $2,531,000 after purchasing an additional 797 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of CNO Financial Group by 5.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 376,747 shares of the financial services provider’s stock valued at $15,692,000 after buying an additional 20,728 shares during the last quarter. Jane Street Group LLC boosted its position in shares of CNO Financial Group by 146.4% during the first quarter. Jane Street Group LLC now owns 149,159 shares of the financial services provider’s stock valued at $6,212,000 after buying an additional 88,619 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in CNO Financial Group by 637.4% during the first quarter. Geneos Wealth Management Inc. now owns 1,438 shares of the financial services provider’s stock worth $60,000 after buying an additional 1,243 shares in the last quarter. Institutional investors own 95.43% of the company’s stock.

Analyst Upgrades and Downgrades

CNO has been the subject of a number of research reports. Evercore set a $48.00 price objective on CNO Financial Group and gave the company an “in-line” rating in a research note on Monday, June 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of CNO Financial Group in a research report on Monday, April 20th. Keefe, Bruyette & Woods increased their target price on CNO Financial Group from $46.00 to $50.00 and gave the stock a “market perform” rating in a report on Tuesday, May 5th. Finally, Wall Street Zen downgraded shares of CNO Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, CNO Financial Group presently has a consensus rating of “Moderate Buy” and an average price target of $48.75.

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.