CNO Financial Group (NYSE:CNO) CEO Sells $1,319,745.70 in Stock

CNO Financial Group, Inc. (NYSE:CNO) CEO Gary Bhojwani sold 31,430 shares of the stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $41.99, for a total value of $1,319,745.70. Following the sale, the chief executive officer owned 195,926 shares of the company’s stock, valued at $8,226,932.74. This represents a 13.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

CNO Financial Group Stock Down 0.7%

NYSE CNO opened at $42.17 on Monday. CNO Financial Group, Inc. has a 12 month low of $34.63 and a 12 month high of $44.01. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.45. The stock has a market cap of $4.02 billion, a PE ratio of 14.74 and a beta of 0.85. The stock’s 50 day moving average is $41.29 and its 200 day moving average is $39.45.

CNO Financial Group (NYSE:CNO) last announced its quarterly earnings data on Friday, May 19th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter. CNO Financial Group had a net margin of 6.64% and a return on equity of 15.81%. The business had revenue of $968.30 million during the quarter. Research analysts predict that CNO Financial Group, Inc. will post 3.83 EPS for the current fiscal year.

CNO Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 23rd. Shareholders of record on Wednesday, December 10th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Wednesday, December 10th. CNO Financial Group’s payout ratio is currently 23.78%.

Institutional Investors Weigh In On CNO Financial Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNO. Walleye Capital LLC purchased a new position in shares of CNO Financial Group in the 1st quarter worth approximately $225,000. Graham Capital Management L.P. bought a new stake in CNO Financial Group in the first quarter worth $903,000. Royal Bank of Canada boosted its stake in CNO Financial Group by 29.5% during the first quarter. Royal Bank of Canada now owns 176,059 shares of the financial services provider’s stock worth $7,332,000 after buying an additional 40,054 shares during the period. EP Wealth Advisors LLC boosted its stake in CNO Financial Group by 7.8% during the first quarter. EP Wealth Advisors LLC now owns 12,347 shares of the financial services provider’s stock worth $514,000 after buying an additional 892 shares during the period. Finally, Adage Capital Partners GP L.L.C. bought a new position in CNO Financial Group during the first quarter valued at $1,041,000. 95.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CNO has been the subject of a number of research analyst reports. Jefferies Financial Group upgraded CNO Financial Group from a “hold” rating to a “buy” rating and raised their price objective for the company from $42.00 to $47.00 in a research report on Monday, December 15th. Piper Sandler increased their price target on CNO Financial Group from $46.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, December 23rd. Weiss Ratings restated a “buy (b)” rating on shares of CNO Financial Group in a report on Wednesday, October 8th. Wall Street Zen raised CNO Financial Group from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Keefe, Bruyette & Woods increased their target price on CNO Financial Group from $44.00 to $45.00 and gave the company a “market perform” rating in a research report on Thursday, October 9th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $45.00.

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.