CNO Financial Group, Inc. (NYSE:CNO) Given Consensus Recommendation of “Hold” by Analysts

Shares of CNO Financial Group, Inc. (NYSE:CNO) have been assigned an average rating of “Hold” from the five analysts that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $51.50.

Several research firms recently commented on CNO. Jefferies Financial Group downgraded CNO Financial Group from a “buy” rating to a “hold” rating and upped their price objective for the company from $53.00 to $55.00 in a research note on Friday, July 10th. 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. Keefe, Bruyette & Woods boosted their target price on CNO Financial Group from $50.00 to $53.00 and gave the company a “market perform” rating in a research note on Monday, July 13th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of CNO Financial Group in a research report on Friday, July 17th.

CNO Financial Group Stock Performance

Shares of CNO stock traded up $0.76 during trading hours on Thursday, hitting $53.71. 27,592 shares of the company were exchanged, compared to its average volume of 708,638. The firm has a fifty day simple moving average of $50.70 and a 200 day simple moving average of $45.46. 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 has a 52-week low of $35.24 and a 52-week high of $54.09. The stock has a market capitalization of $5.01 billion, a price-to-earnings ratio of 21.59 and a beta of 0.81.

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 issued a $0.18 dividend. This is an increase from CNO Financial Group’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $0.72 annualized dividend and a yield of 1.3%. CNO Financial Group’s payout ratio is 28.92%.

Insider Transactions at CNO Financial Group

In other CNO Financial Group news, CMO Rocco F. Tarasi III sold 5,750 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $50.00, for a total transaction of $287,500.00. Following the completion of the transaction, the chief marketing officer owned 79,191 shares in the company, valued at $3,959,550. This trade represents a 6.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gary C. Bhojwani sold 86,048 shares of CNO Financial Group stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $51.48, for a total transaction of $4,429,751.04. Following the completion of the transaction, the chief executive officer owned 174,264 shares of the company’s stock, valued at $8,971,110.72. The trade was a 33.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 95,106 shares of company stock worth $4,879,343 over the last 90 days. 3.44% of the stock is currently owned by company insiders.

Institutional Trading of CNO Financial Group

Institutional investors have recently modified their holdings of the business. Louisiana State Employees Retirement System purchased a new stake in shares of CNO Financial Group during the first quarter worth $1,125,000. Hsbc Holdings PLC boosted its holdings in shares of CNO Financial Group by 102.1% in the fourth quarter. Hsbc Holdings PLC now owns 45,025 shares of the financial services provider’s stock worth $1,914,000 after acquiring an additional 22,749 shares during the period. SG Americas Securities LLC grew its position in shares of CNO Financial Group by 83.4% in the fourth quarter. SG Americas Securities LLC now owns 35,381 shares of the financial services provider’s stock valued at $1,503,000 after purchasing an additional 16,092 shares in the last quarter. Weiss Asset Management LP purchased a new position in shares of CNO Financial Group in the first quarter valued at $1,141,000. Finally, Fifth Third Bancorp raised its stake in shares of CNO Financial Group by 3,633.6% during the 1st quarter. Fifth Third Bancorp now owns 70,490 shares of the financial services provider’s stock valued at $2,894,000 after purchasing an additional 68,602 shares during the period. 95.43% of the stock is currently owned by hedge funds and other 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.