CNO Financial Group (NYSE:CNO) CMO Sells $162,092.00 in Stock

CNO Financial Group, Inc. (NYSE:CNO) CMO Rocco Tarasi III sold 3,308 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $49.00, for a total transaction of $162,092.00. Following the transaction, the chief marketing officer owned 79,191 shares in the company, valued at $3,880,359. The trade was a 4.01% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 0.7%

Shares of CNO opened at $50.33 on Friday. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 1.61. The firm’s 50-day moving average is $45.40 and its two-hundred day moving average is $43.07. CNO Financial Group, Inc. has a twelve month low of $35.24 and a twelve month high of $50.71. The firm has a market capitalization of $4.70 billion, a P/E ratio of 20.21 and a beta of 0.81.

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 given a dividend of $0.18 per share. The ex-dividend date is Wednesday, June 10th. This is an increase from CNO Financial Group’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 1.4%. CNO Financial Group’s dividend payout ratio (DPR) is currently 28.92%.

Analysts Set New Price Targets

Several brokerages have weighed in on CNO. Evercore set a $48.00 target price on shares of CNO Financial Group and gave the stock an “in-line” rating in a research report on Monday, June 1st. 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. Keefe, Bruyette & Woods upped their target price on shares of CNO Financial Group from $46.00 to $50.00 and gave the stock a “market perform” rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of CNO Financial Group in a research report on Monday, April 20th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, CNO Financial Group currently has an average rating of “Moderate Buy” and an average price target of $48.75.

Institutional Trading of CNO Financial Group

Several large investors have recently modified their holdings of the business. Franklin Resources Inc. grew its position in shares of CNO Financial Group by 1.0% in the third quarter. Franklin Resources Inc. now owns 4,302,316 shares of the financial services provider’s stock valued at $170,157,000 after purchasing an additional 42,467 shares during the last quarter. American Century Companies Inc. grew its position in shares of CNO Financial Group by 3.8% in the third quarter. American Century Companies Inc. now owns 3,239,944 shares of the financial services provider’s stock valued at $128,140,000 after purchasing an additional 118,417 shares during the last quarter. Pzena Investment Management LLC grew its position in shares of CNO Financial Group by 0.3% in the first quarter. Pzena Investment Management LLC now owns 2,470,921 shares of the financial services provider’s stock valued at $101,456,000 after purchasing an additional 8,053 shares during the last quarter. Morgan Stanley grew its position in shares of CNO Financial Group by 20.5% in the fourth quarter. Morgan Stanley now owns 1,870,982 shares of the financial services provider’s stock valued at $79,461,000 after purchasing an additional 317,690 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of CNO Financial Group by 8.3% in the first quarter. Principal Financial Group Inc. now owns 1,492,497 shares of the financial services provider’s stock valued at $61,282,000 after purchasing an additional 114,000 shares during the last quarter. 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.