CNO Financial Group (NYSE:CNO) CEO Gary Bhojwani Sells 86,048 Shares

CNO Financial Group, Inc. (NYSE:CNO) CEO Gary Bhojwani sold 86,048 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer owned 174,264 shares in the company, valued at approximately $8,971,110.72. The trade was a 33.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CNO Financial Group Trading Up 2.2%

NYSE CNO opened at $52.08 on Thursday. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 1.61. The business has a fifty day simple moving average of $47.77 and a 200 day simple moving average of $44.09. CNO Financial Group, Inc. has a 12 month low of $35.24 and a 12 month high of $53.03. The firm has a market capitalization of $4.86 billion, a P/E ratio of 20.91 and a beta of 0.81.

CNO Financial Group Increases Dividend

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

Hedge Funds Weigh In On CNO Financial Group

A number of institutional investors have recently added to or reduced their stakes in the business. Richardson Financial Services Inc. purchased a new position in shares of CNO Financial Group during the fourth quarter worth about $37,000. Bessemer Group Inc. grew its stake in shares of CNO Financial Group by 75.4% during the first quarter. Bessemer Group Inc. now owns 1,133 shares of the financial services provider’s stock valued at $46,000 after buying an additional 487 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of CNO Financial Group by 123.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,176 shares of the financial services provider’s stock valued at $45,000 after buying an additional 649 shares during the last quarter. Osaic Holdings Inc. increased its holdings in shares of CNO Financial Group by 39.2% in the second quarter. Osaic Holdings Inc. now owns 1,194 shares of the financial services provider’s stock worth $46,000 after buying an additional 336 shares during the period. Finally, Geneos Wealth Management Inc. increased its holdings in shares of CNO Financial Group by 637.4% in the first quarter. Geneos Wealth Management Inc. now owns 1,438 shares of the financial services provider’s stock worth $60,000 after buying an additional 1,243 shares during the period. 95.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on CNO. Keefe, Bruyette & Woods raised their price target on shares of CNO Financial Group from $46.00 to $50.00 and gave the stock a “market perform” rating in a research note on Tuesday, May 5th. Weiss Ratings reissued a “buy (b)” rating on shares of CNO Financial Group in a report on Monday, April 20th. Evercore set a $48.00 price target on CNO Financial Group and gave the stock an “in-line” rating in a report on Monday, June 1st. 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 research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $48.75.

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.