Karen Detoro Sells 5,964 Shares of CNO Financial Group (NYSE:CNO) Stock

by · The Markets Daily

CNO Financial Group, Inc. (NYSE:CNO – Get Free Report) insider Karen Detoro sold 5,964 shares of CNO Financial Group stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $55.12, for a total value of $328,735.68. Following the completion of the sale, the insider directly owned 36,450 shares in the company, valued at $2,009,124. This represents a 14.06% decrease in their position. The sale was disclosed in a 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 Stock Performance

NYSE CNO traded up $0.79 on Wednesday, hitting $55.33. 672,027 shares of the company’s stock were exchanged, compared to its average volume of 722,595. The firm has a market cap of $5.12 billion, a price-to-earnings ratio of 19.01 and a beta of 0.80. The firm’s 50-day moving average price is $53.61 and its two-hundred day moving average price is $47.59. CNO Financial Group, Inc. has a fifty-two week low of $38.22 and a fifty-two week high of $57.59. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.17 and a quick ratio of 0.17.

CNO Financial Group (NYSE:CNO – Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the business earned $0.87 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, research analysts expect that CNO Financial Group, Inc. will post 4.74 EPS for the current year.

CNO Financial Group Dividend Announcement

The business also recently announced 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. 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 payout ratio is presently 24.74%.

Institutional Trading of CNO Financial Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Louisiana State Employees Retirement System acquired a new position in shares of CNO Financial Group during the 1st quarter worth approximately $1,125,000. Callan Family Office LLC purchased a new position in CNO Financial Group during the second quarter worth $1,089,000. BlackRock Inc. purchased a new position in CNO Financial Group during the second quarter worth $682,433,000. Hsbc Holdings PLC raised its holdings in shares of CNO Financial Group by 102.1% in the fourth quarter. Hsbc Holdings PLC now owns 45,025 shares of the financial services provider’s stock worth $1,914,000 after acquiring an additional 22,749 shares during the last quarter. Finally, Deutsche Bank AG purchased a new stake in shares of CNO Financial Group in the second quarter valued at $6,545,000. Hedge funds and other institutional investors own 95.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Keefe, Bruyette & Woods raised their price objective on shares of CNO Financial Group from $53.00 to $57.00 and gave the company a “market perform” rating in a research note on Monday, August 3rd. Weiss Ratings raised shares of CNO Financial Group from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, August 11th. Jefferies Financial Group downgraded shares of CNO Financial Group from a “buy” rating to a “hold” rating and lifted their price target for the company from $53.00 to $55.00 in a research report on Friday, July 10th. 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. Finally, Wall Street Zen raised CNO Financial Group from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $56.00.

Check Out Our Latest Research Report on CNO Financial Group

CNO Financial Group Company Profile

(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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