CNO Financial Group (NYSE:CNO) Sets New 12-Month High – Here’s What Happened

CNO Financial Group, Inc. (NYSE:CNO)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $51.22 and last traded at $50.97, with a volume of 545269 shares changing hands. The stock had previously closed at $50.41.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Keefe, Bruyette & Woods boosted their price objective on CNO Financial Group from $46.00 to $50.00 and gave the company a “market perform” rating in a research report on Tuesday, May 5th. Evercore set a $48.00 price objective on CNO Financial Group and gave the company an “in-line” rating in a research report on Monday, June 1st. Weiss Ratings restated a “buy (b)” rating on shares of CNO Financial Group in a research report on Monday, April 20th. Finally, Wall Street Zen cut CNO Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. 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 target price of $48.75.

CNO Financial Group Price Performance

The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 1.61. The company has a 50-day moving average of $45.78 and a 200 day moving average of $43.22. The stock has a market capitalization of $4.76 billion, a PE ratio of 20.47 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 issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.4%. The ex-dividend date is Wednesday, June 10th. This is an increase from CNO Financial Group’s previous quarterly dividend of $0.17. CNO Financial Group’s dividend payout ratio (DPR) is currently 28.92%.

Insider Buying and Selling at CNO Financial Group

In other CNO Financial Group news, CMO Rocco F. Tarasi III sold 5,750 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $50.00, for a total value of $287,500.00. Following the completion of the sale, the chief marketing officer directly owned 79,191 shares in the company, valued at $3,959,550. This represents a 6.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Scott L. Goldberg sold 11,060 shares of the company’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $39.97, for a total value of $442,068.20. Following the completion of the sale, the insider owned 214,524 shares of the company’s stock, valued at approximately $8,574,524.28. The trade was a 4.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 20,118 shares of company stock valued at $891,660. 3.44% of the stock is owned by company insiders.

Institutional Trading of CNO Financial Group

Several large investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC purchased a new stake in CNO Financial Group in the 1st quarter valued at $570,000. Glenmede Trust Co. NA purchased a new stake in CNO Financial Group in the 1st quarter valued at $201,000. Cim Investment Management Inc. grew its holdings in CNO Financial Group by 18.8% in the 1st quarter. Cim Investment Management Inc. now owns 13,301 shares of the financial services provider’s stock valued at $546,000 after buying an additional 2,109 shares in the last quarter. Bank of America Corp DE grew its holdings in CNO Financial Group by 6.2% in the 1st quarter. Bank of America Corp DE now owns 988,063 shares of the financial services provider’s stock valued at $40,570,000 after buying an additional 57,804 shares in the last quarter. Finally, Amundi grew its holdings in shares of CNO Financial Group by 69.0% during the 1st quarter. Amundi now owns 17,596 shares of the financial services provider’s stock worth $722,000 after purchasing an additional 7,182 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.