CNO Financial Group (NYSE:CNO) Insider Sells $222,203.80 in Stock

by · The Markets Daily

CNO Financial Group, Inc. (NYSE:CNOGet Free Report) insider Jeanne Linnenbringer sold 4,060 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $54.73, for a total transaction of $222,203.80. Following the completion of the transaction, the insider directly owned 30,128 shares of the company’s stock, valued at approximately $1,648,905.44. The trade was a 11.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CNO Financial Group Trading Up 1.4%

CNO traded up $0.79 on Wednesday, hitting $55.33. The company had a trading volume of 672,027 shares, compared to its average volume of 722,595. The company has a market cap of $5.12 billion, a PE ratio of 19.01 and a beta of 0.80. CNO Financial Group, Inc. has a 12-month low of $38.22 and a 12-month high of $57.59. The business’s fifty day simple moving average is $53.61 and its 200 day simple moving average is $47.59. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 1.65.

CNO Financial Group (NYSE:CNOGet Free Report) last released its earnings results on Thursday, July 30th. The financial services provider reported $1.26 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.29. CNO Financial Group had a return on equity of 18.76% and a net margin of 6.02%.The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $999.45 million. During the same quarter in the previous year, the company posted $0.87 EPS. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. Equities research analysts expect that CNO Financial Group, Inc. will post 4.74 EPS for the current year.

CNO Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Thursday, September 10th. CNO Financial Group’s dividend payout ratio is presently 24.74%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CNO shares. Capital One Financial set a $70.00 target price on CNO Financial Group in a research report on Wednesday, August 26th. Wall Street Zen raised shares of CNO Financial Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Weiss Ratings upgraded shares of CNO Financial Group from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, August 11th. Evercore set a $48.00 price objective on shares of CNO Financial Group and gave the company an “in-line” rating in a research report on Monday, June 1st. Finally, Jefferies Financial Group downgraded shares of CNO Financial Group from a “buy” rating to a “hold” rating and upped their target price for the stock from $53.00 to $55.00 in a research note on Friday, July 10th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, CNO Financial Group presently has a consensus rating of “Hold” and a consensus price target of $56.00.

View Our Latest Stock Analysis on CNO

Institutional Investors Weigh In On CNO Financial Group

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of CNO Financial Group in the second quarter valued at about $682,433,000. California State Teachers Retirement System increased its position in CNO Financial Group by 4,851.5% during the 2nd quarter. California State Teachers Retirement System now owns 5,354,939 shares of the financial services provider’s stock valued at $272,995,000 after purchasing an additional 5,246,791 shares during the period. Pzena Investment Management LLC lifted its position in shares of CNO Financial Group by 0.3% in the 1st quarter. Pzena Investment Management LLC now owns 2,470,921 shares of the financial services provider’s stock worth $101,456,000 after purchasing an additional 8,053 shares during the period. Morgan Stanley lifted its holdings in CNO Financial Group by 20.5% during the fourth quarter. Morgan Stanley now owns 1,870,982 shares of the financial services provider’s stock worth $79,461,000 after buying an additional 317,690 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of CNO Financial Group by 8.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,492,497 shares of the financial services provider’s stock worth $61,282,000 after acquiring an additional 114,000 shares in the last quarter. 95.43% of the stock is currently owned by hedge funds and other institutional investors.

About CNO Financial Group

(Get Free Report)

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.

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