Insider Selling: CNO Financial Group (NYSE:CNO) General Counsel Sells 33,800 Shares of Stock

CNO Financial Group, Inc. (NYSE:CNO) General Counsel Matthew Zimpfer sold 33,800 shares of the stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $43.05, for a total transaction of $1,455,090.00. Following the transaction, the general counsel owned 307,937 shares of the company’s stock, valued at approximately $13,256,687.85. This represents a 9.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

CNO Financial Group Stock Down 0.3%

Shares of NYSE CNO traded down $0.13 during mid-day trading on Wednesday, hitting $42.99. The company had a trading volume of 850,597 shares, compared to its average volume of 687,941. The company has a current ratio of 0.17, a quick ratio of 0.18 and a debt-to-equity ratio of 1.43. The firm has a 50-day simple moving average of $42.55 and a two-hundred day simple moving average of $40.59. The company has a market capitalization of $4.10 billion, a PE ratio of 19.28 and a beta of 0.84. CNO Financial Group, Inc. has a one year low of $34.63 and a one year high of $44.85.

CNO Financial Group (NYSE:CNO) last issued its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.47 EPS for the quarter, beating the consensus estimate of $1.20 by $0.27. The firm had revenue of $101.10 million during the quarter, compared to analysts’ expectations of $1 billion. CNO Financial Group had a return on equity of 15.80% and a net margin of 4.94%.The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.18 earnings per share. On average, equities analysts expect that CNO Financial Group, Inc. will post 3.83 EPS for the current year.

CNO Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, March 10th. CNO Financial Group’s dividend payout ratio is presently 30.49%.

Hedge Funds Weigh In On CNO Financial Group

Several large investors have recently modified their holdings of the stock. American Century Companies Inc. boosted its holdings in shares of CNO Financial Group by 6.2% during the second quarter. American Century Companies Inc. now owns 3,121,527 shares of the financial services provider’s stock worth $120,429,000 after acquiring an additional 183,493 shares during the period. Sequoia Financial Advisors LLC bought a new stake in CNO Financial Group in the 3rd quarter valued at $1,077,000. AlphaQuest LLC acquired a new position in CNO Financial Group in the 3rd quarter valued at $3,057,000. Boston Partners grew its holdings in CNO Financial Group by 141.1% in the 2nd quarter. Boston Partners now owns 86,148 shares of the financial services provider’s stock valued at $3,324,000 after buying an additional 50,411 shares in the last quarter. Finally, Cresset Asset Management LLC bought a new position in CNO Financial Group during the 2nd quarter worth $1,511,000. 95.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group upgraded shares of CNO Financial Group from a “hold” rating to a “buy” rating and boosted their target price for the stock from $42.00 to $47.00 in a report on Monday, December 15th. Weiss Ratings reissued a “buy (b)” rating on shares of CNO Financial Group in a research report on Wednesday, January 21st. Wall Street Zen lowered shares of CNO Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Evercore reiterated an “underperform” rating and issued a $43.00 target price on shares of CNO Financial Group in a research note on Wednesday. Finally, Piper Sandler lifted their price target on CNO Financial Group from $46.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, December 23rd. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $46.25.

About CNO Financial Group

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.