Insider Selling: CNO Financial Group (NYSE:CNO) CEO Sells 45,357 Shares of Stock

CNO Financial Group, Inc. (NYSE:CNO) CEO Gary Bhojwani sold 45,357 shares of CNO Financial Group stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $43.17, for a total value of $1,958,061.69. Following the completion of the sale, the chief executive officer directly owned 320,547 shares in the company, valued at approximately $13,838,013.99. The trade was a 12.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

CNO Financial Group Price Performance

CNO traded down $0.13 during trading hours on Wednesday, hitting $42.99. The company’s stock had a trading volume of 850,597 shares, compared to its average volume of 687,941. The stock has a market cap of $4.10 billion, a price-to-earnings ratio of 19.28 and a beta of 0.84. The business’s 50-day moving average price is $42.55 and its 200-day moving average price is $40.59. The company has a current ratio of 0.17, a quick ratio of 0.18 and a debt-to-equity ratio of 1.43. CNO Financial Group, Inc. has a 12 month low of $34.63 and a 12 month high of $44.85.

CNO Financial Group (NYSE:CNO) last released its quarterly earnings data 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. CNO Financial Group had a net margin of 4.94% and a return on equity of 15.80%. The business had revenue of $101.10 million during the quarter, compared to analyst estimates of $1 billion. During the same quarter last year, the business earned $1.18 earnings per share. CNO Financial Group’s quarterly revenue was up 4.2% compared to the same quarter last year. Sell-side analysts expect that CNO Financial Group, Inc. will post 3.83 earnings per share for the current fiscal year.

CNO Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Tuesday, March 10th will be given a $0.17 dividend. The ex-dividend date is Tuesday, March 10th. This represents a $0.68 annualized dividend and a yield of 1.6%. CNO Financial Group’s dividend payout ratio (DPR) is currently 30.49%.

Wall Street Analyst Weigh In

CNO has been the subject of several analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of CNO Financial Group in a research note on Wednesday, January 21st. Evercore restated an “underperform” rating and set a $43.00 price target on shares of CNO Financial Group in a report on Wednesday. Wall Street Zen downgraded CNO Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Jefferies Financial Group raised shares of CNO Financial Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $42.00 to $47.00 in a research note on Monday, December 15th. Finally, Piper Sandler increased their target price on shares of CNO Financial Group from $46.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, December 23rd. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, CNO Financial Group presently has an average rating of “Hold” and a consensus price target of $46.25.

Hedge Funds Weigh In On CNO Financial Group

Several hedge funds have recently bought and sold shares of the business. Optiver Holding B.V. increased its stake in CNO Financial Group by 90.1% in the 3rd quarter. Optiver Holding B.V. now owns 637 shares of the financial services provider’s stock worth $25,000 after buying an additional 302 shares during the period. Smartleaf Asset Management LLC grew its stake in CNO Financial Group by 353.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 743 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 579 shares in the last quarter. Turning Point Benefit Group Inc. purchased a new position in shares of CNO Financial Group during the second quarter worth approximately $32,000. First Horizon Corp bought a new stake in shares of CNO Financial Group during the third quarter valued at approximately $32,000. Finally, Richardson Financial Services Inc. bought a new stake in shares of CNO Financial Group during the fourth quarter valued at approximately $37,000. Institutional investors own 95.43% of the company’s stock.

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.