CNO Financial Group, Inc. (NYSE:CNO) Given Average Recommendation of “Moderate Buy” by Brokerages

CNO Financial Group, Inc. (NYSE:CNO) has been assigned a consensus rating of “Moderate Buy” from the five ratings firms that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $48.75.

A number of brokerages have recently weighed in on CNO. Evercore set a $48.00 price target on shares of CNO Financial Group and gave the stock an “in-line” rating in a report on Monday, June 1st. Weiss Ratings reissued a “buy (b)” rating on shares of CNO Financial Group in a research note on Monday, April 20th. Keefe, Bruyette & Woods boosted their price objective on shares of 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. Finally, Wall Street Zen cut CNO Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th.

CNO Financial Group Stock Performance

CNO stock opened at $52.88 on Friday. CNO Financial Group has a 1-year low of $35.24 and a 1-year high of $53.55. 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 firm has a market cap of $4.94 billion, a PE ratio of 21.24 and a beta of 0.81. The business’s 50-day moving average price is $48.81 and its two-hundred day moving average price is $44.50.

CNO Financial Group Increases Dividend

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

Insider Activity

In related news, CEO Gary C. Bhojwani sold 86,048 shares of CNO Financial Group stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $51.48, for a total transaction of $4,429,751.04. Following the sale, the chief executive officer directly owned 174,264 shares of the company’s stock, valued at approximately $8,971,110.72. The trade was a 33.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available 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 company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $50.00, for a total transaction of $287,500.00. Following the transaction, 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 have sold 95,106 shares of company stock valued at $4,879,343. Insiders own 3.44% of the company’s stock.

Institutional Investors Weigh In On CNO Financial Group

Several large investors have recently modified their holdings of CNO. Richardson Financial Services Inc. bought a new stake in CNO Financial Group in the 4th quarter valued at about $37,000. EverSource Wealth Advisors LLC boosted its position in 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 worth $45,000 after purchasing an additional 649 shares during the period. Bessemer Group Inc. increased its stake in shares of CNO Financial Group by 75.4% in the first quarter. Bessemer Group Inc. now owns 1,133 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 487 shares in the last quarter. Osaic Holdings Inc. increased its stake 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 purchasing an additional 336 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in shares of CNO Financial Group by 72.0% in the second quarter. Versant Capital Management Inc now owns 1,132 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 474 shares during the period. Hedge funds and other institutional investors own 95.43% of the company’s stock.

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.