CNO Financial Group (NYSE:CNO) Hits New 12-Month High – What’s Next?

CNO Financial Group, Inc. (NYSE:CNO) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $48.10 and last traded at $47.8690, with a volume of 285859 shares trading hands. The stock had previously closed at $47.12.

Analyst Ratings Changes

Several research firms have recently weighed in on CNO. Evercore set a $48.00 price target on CNO Financial Group and gave the stock an “in-line” rating in a research note on Monday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of CNO Financial Group in a report on Monday, April 20th. Wall Street Zen lowered shares of CNO Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of CNO Financial Group from $46.00 to $50.00 and gave the company a “market perform” rating in a research report on Tuesday, May 5th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.75.

CNO Financial Group Stock Performance

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 company has a market capitalization of $4.47 billion, a PE ratio of 19.22 and a beta of 0.81. The company has a 50-day moving average price of $44.38 and a two-hundred day moving average price of $42.71.

CNO Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 10th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Wednesday, June 10th. This is a boost from CNO Financial Group’s previous quarterly dividend of $0.17. CNO Financial Group’s payout ratio is presently 28.92%.

Insider Buying and Selling at CNO Financial Group

In other news, insider Scott L. Goldberg sold 11,060 shares of the stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $39.97, for a total value of $442,068.20. Following the sale, the insider directly owned 214,524 shares of the company’s stock, valued at approximately $8,574,524.28. This represents a 4.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.44% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CNO Financial Group

Several hedge funds have recently bought and sold shares of the company. Optiver Holding B.V. lifted its holdings in shares of 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 last quarter. Osaic Holdings Inc. raised its position in CNO Financial Group by 39.2% during the second quarter. Osaic Holdings Inc. now owns 1,194 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 336 shares in the last quarter. Signaturefd LLC lifted its stake in CNO Financial Group by 18.7% during the fourth quarter. Signaturefd LLC now owns 2,217 shares of the financial services provider’s stock worth $94,000 after purchasing an additional 349 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in CNO Financial Group by 32.1% during the third quarter. EverSource Wealth Advisors LLC now owns 1,553 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 377 shares during the last quarter. Finally, Fifth Third Bancorp boosted its holdings in shares of CNO Financial Group by 25.0% in the 4th quarter. Fifth Third Bancorp now owns 1,888 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 377 shares in the last quarter. Hedge funds and other 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.