CNO Financial Group (NYSE:CNO) Sets New 12-Month High – Time to Buy?

Shares of CNO Financial Group, Inc. (NYSE:CNO) hit a new 52-week high during trading on Tuesday . The company traded as high as $46.33 and last traded at $46.1730, with a volume of 478089 shares traded. The stock had previously closed at $45.68.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods boosted their price target on CNO Financial Group from $46.00 to $50.00 and gave the company a “market perform” rating in a report on Tuesday, May 5th. Evercore reaffirmed an “underperform” rating and set a $43.00 target price on shares of CNO Financial Group in a research report on Wednesday, February 18th. Weiss Ratings reiterated a “buy (b)” rating on shares of CNO Financial Group in a report on Monday, April 20th. Finally, Wall Street Zen downgraded CNO Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $47.50.

CNO Financial Group Stock Performance

The business’s 50-day moving average price is $42.52 and its 200-day moving average price is $42.04. The stock has a market cap of $4.40 billion, a PE ratio of 18.94 and a beta of 0.82. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 1.61.

CNO Financial Group Increases Dividend

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

Insiders Place Their Bets

In other news, General Counsel Matthew J. Zimpfer sold 33,800 shares of the business’s 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 sale, the general counsel owned 307,937 shares in the company, valued at approximately $13,256,687.85. The trade was a 9.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gary C. Bhojwani sold 43,021 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $43.05, for a total transaction of $1,852,054.05. Following the transaction, the chief executive officer owned 277,526 shares in the company, valued at approximately $11,947,494.30. This trade represents a 13.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 165,808 shares of company stock worth $7,113,321 in the last three months. Insiders own 3.44% of the company’s stock.

Institutional Investors Weigh In On CNO Financial Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Optiver Holding B.V. grew its holdings in shares of CNO Financial Group by 90.1% during the third quarter. Optiver Holding B.V. now owns 637 shares of the financial services provider’s stock valued at $25,000 after buying an additional 302 shares during the last quarter. Osaic Holdings Inc. grew its stake in CNO Financial Group by 39.2% during the 2nd 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 during the last quarter. Signaturefd LLC grew its stake in CNO Financial Group by 18.7% during the 4th quarter. Signaturefd LLC now owns 2,217 shares of the financial services provider’s stock valued at $94,000 after purchasing an additional 349 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of CNO Financial Group by 32.1% in the third quarter. EverSource Wealth Advisors LLC now owns 1,553 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 377 shares during the period. Finally, Fifth Third Bancorp increased its holdings in shares of CNO Financial Group by 25.0% in the fourth quarter. Fifth Third Bancorp now owns 1,888 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 377 shares during the period. 95.43% of the stock is currently owned by institutional investors and hedge funds.

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.