Rocco Tarasi III Sells 3,308 Shares of CNO Financial Group (NYSE:CNO) Stock

CNO Financial Group, Inc. (NYSE:CNO) CMO Rocco Tarasi III sold 3,308 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $49.00, for a total transaction of $162,092.00. Following the sale, the chief marketing officer directly owned 79,191 shares in the company, valued at approximately $3,880,359. The trade was a 4.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CNO Financial Group Price Performance

Shares of NYSE:CNO opened at $50.33 on Friday. The firm’s 50 day moving average price is $45.40 and its 200-day moving average price is $43.07. CNO Financial Group, Inc. has a twelve month low of $35.24 and a twelve month high of $50.71. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 1.61. The stock has a market capitalization of $4.70 billion, a PE ratio of 20.21 and a beta of 0.81.

CNO Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 10th will be paid a $0.18 dividend. This is a boost from CNO Financial Group’s previous quarterly dividend of $0.17. The ex-dividend date is Wednesday, June 10th. This represents a $0.72 annualized dividend and a dividend yield of 1.4%. CNO Financial Group’s dividend payout ratio (DPR) is currently 28.92%.

Institutional Investors Weigh In On CNO Financial Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Optiver Holding B.V. raised its stake in CNO Financial Group by 90.1% during the 3rd quarter. Optiver Holding B.V. now owns 637 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 302 shares during the period. Smartleaf Asset Management LLC raised its stake in CNO Financial Group by 353.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 743 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 579 shares during the period. Richardson Financial Services Inc. bought a new stake in CNO Financial Group during the 4th quarter worth approximately $37,000. EverSource Wealth Advisors LLC raised its stake in CNO Financial Group by 123.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,176 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 649 shares during the period. Finally, Bessemer Group Inc. raised its stake in CNO Financial Group by 75.4% during the 1st quarter. Bessemer Group Inc. now owns 1,133 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 487 shares during the period. Institutional investors own 95.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods increased their price objective on shares of CNO Financial Group from $46.00 to $50.00 and gave the stock a “market perform” rating in a research note on Tuesday, May 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of CNO Financial Group in a research note on Monday, April 20th. Evercore set a $48.00 price objective on shares of CNO Financial Group and gave the stock an “in-line” rating in a research note on Monday, June 1st. Finally, Wall Street Zen cut shares of CNO Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has an average 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.