CNO Financial Group (NYSE:CNO) Sets New 12-Month High – Should You Buy?

CNO Financial Group, Inc. (NYSE:CNO)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $52.06 and last traded at $51.4270, with a volume of 597732 shares trading hands. The stock had previously closed at $50.83.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Wall Street Zen lowered CNO Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of CNO Financial Group in a research report on Monday, April 20th. Keefe, Bruyette & Woods increased their target price 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. Finally, Evercore set a $48.00 price target on shares of CNO Financial Group and gave the company an “in-line” rating in a research note on Monday, June 1st. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, CNO Financial Group presently has an average rating of “Moderate Buy” and an average price target of $48.75.

CNO Financial Group Price 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 business has a 50 day simple moving average of $46.51 and a 200-day simple moving average of $43.51. The firm has a market cap of $4.80 billion, a price-to-earnings ratio of 20.65 and a beta of 0.82.

CNO Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 24th. Investors of record on Wednesday, June 10th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, June 10th. This is a positive change from CNO Financial Group’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 1.4%. CNO Financial Group’s payout ratio is presently 28.92%.

Insider Transactions at CNO Financial Group

In related 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 transaction of $287,500.00. Following the completion of the sale, the chief marketing officer owned 79,191 shares in the company, valued at approximately $3,959,550. This represents a 6.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 3.44% of the company’s stock.

Hedge Funds Weigh In On CNO Financial Group

Hedge funds have recently bought and sold shares of the company. Optiver Holding B.V. raised its holdings in shares of CNO Financial Group by 90.1% in the third quarter. Optiver Holding B.V. now owns 637 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 302 shares during the last quarter. Richardson Financial Services Inc. purchased a new position in CNO Financial Group during the fourth quarter worth about $37,000. EverSource Wealth Advisors LLC boosted its holdings 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 last quarter. Bessemer Group Inc. grew its position in CNO Financial Group by 75.4% in the 1st 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. Finally, Osaic Holdings Inc. increased its stake in CNO Financial Group by 39.2% in the 2nd quarter. Osaic Holdings Inc. now owns 1,194 shares of the financial services provider’s stock valued at $46,000 after buying an additional 336 shares during the last quarter. 95.43% of the stock is 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.