CNO Financial Group (NYSE:CNO) Hits New 52-Week High – Time to Buy?

CNO Financial Group, Inc. (NYSE:CNO)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $53.34 and last traded at $53.1750, with a volume of 10216 shares. The stock had previously closed at $52.64.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CNO. Wall Street Zen downgraded CNO Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Keefe, Bruyette & Woods lifted their price objective on CNO Financial Group from $46.00 to $50.00 and gave the stock a “market perform” rating in a report on Tuesday, May 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of CNO Financial Group in a report on Monday, April 20th. Finally, Evercore set a $48.00 target price on CNO Financial Group and gave the stock an “in-line” rating in a research report on Monday, June 1st. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, CNO Financial Group has a consensus rating of “Moderate Buy” and a consensus price target of $48.75.

CNO Financial Group Stock Performance

The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.17 and a current ratio of 0.17. The firm has a market cap of $4.89 billion, a P/E ratio of 21.03 and a beta of 0.81. The business’s 50-day simple moving average is $48.65 and its 200 day simple moving average is $44.43.

CNO Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 24th. Investors of record on Wednesday, June 10th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.4%. This is a boost from CNO Financial Group’s previous quarterly dividend of $0.17. The ex-dividend date was Wednesday, June 10th. CNO Financial Group’s dividend payout ratio (DPR) is currently 28.92%.

Insider Transactions at CNO Financial Group

In other CNO Financial Group news, CEO Gary C. Bhojwani sold 86,048 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $51.48, for a total value of $4,429,751.04. Following the transaction, the chief executive officer directly owned 174,264 shares of the company’s stock, valued at approximately $8,971,110.72. This trade represents a 33.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Rocco F. Tarasi III sold 5,750 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $50.00, for a total value of $287,500.00. Following the sale, the chief marketing officer owned 79,191 shares of the company’s stock, valued at approximately $3,959,550. This represents a 6.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 95,106 shares of company stock worth $4,879,343. 3.44% of the stock is owned by corporate insiders.

Institutional Trading of CNO Financial Group

Several large investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. boosted its stake in shares of 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 worth $46,000 after acquiring an additional 336 shares during the last quarter. Signaturefd LLC lifted its position in CNO Financial Group by 18.7% during the fourth 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 in the last quarter. Fifth Third Bancorp grew its holdings in CNO Financial Group by 25.0% during 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. Greenleaf Trust grew its holdings in CNO Financial Group by 2.5% during the fourth quarter. Greenleaf Trust now owns 15,529 shares of the financial services provider’s stock valued at $660,000 after purchasing an additional 384 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its position in CNO Financial Group by 2.1% in the first quarter. Oregon Public Employees Retirement Fund now owns 19,408 shares of the financial services provider’s stock worth $797,000 after buying an additional 400 shares in the last quarter. 95.43% of the stock is currently owned by institutional investors.

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.