CNO Financial Group, Inc. (NYSE:CNO) Insider Sells $1,020,510.00 in Stock

CNO Financial Group, Inc. (NYSE:CNO) insider Scott L. Goldberg sold 25,500 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $40.02, for a total transaction of $1,020,510.00. Following the completion of the sale, the insider now directly owns 169,342 shares in the company, valued at $6,777,066.84. This trade represents a 13.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

CNO Financial Group Price Performance

Shares of CNO opened at $39.65 on Friday. The company has a market cap of $4.00 billion, a price-to-earnings ratio of 10.60 and a beta of 1.02. CNO Financial Group, Inc. has a twelve month low of $24.92 and a twelve month high of $42.41. The company has a quick ratio of 0.19, a current ratio of 0.22 and a debt-to-equity ratio of 1.61. The company has a 50 day moving average of $39.43 and a two-hundred day moving average of $37.33.

CNO Financial Group (NYSE:CNO) last posted its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.25. CNO Financial Group had a net margin of 9.08% and a return on equity of 17.20%. As a group, analysts predict that CNO Financial Group, Inc. will post 3.83 earnings per share for the current fiscal year.

CNO Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be issued a $0.16 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.61%. CNO Financial Group’s dividend payout ratio is currently 17.11%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Royal Bank of Canada increased their price objective on shares of CNO Financial Group from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, February 10th. Keefe, Bruyette & Woods increased their price objective on shares of CNO Financial Group from $42.00 to $44.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 12th. BMO Capital Markets began coverage on shares of CNO Financial Group in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $38.00 price objective on the stock. Jefferies Financial Group raised their target price on shares of CNO Financial Group from $36.00 to $41.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $46.00 target price (up from $44.00) on shares of CNO Financial Group in a research report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $40.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CNO. Bank of America Corp DE raised its holdings in shares of CNO Financial Group by 236.9% during the fourth quarter. Bank of America Corp DE now owns 922,411 shares of the financial services provider’s stock worth $34,323,000 after purchasing an additional 648,591 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of CNO Financial Group in the fourth quarter worth about $15,093,000. Balyasny Asset Management L.P. acquired a new position in shares of CNO Financial Group in the fourth quarter worth about $14,270,000. Norges Bank acquired a new position in shares of CNO Financial Group in the fourth quarter worth about $13,975,000. Finally, JPMorgan Chase & Co. raised its position in shares of CNO Financial Group by 41.3% in the fourth quarter. JPMorgan Chase & Co. now owns 1,274,370 shares of the financial services provider’s stock worth $47,419,000 after acquiring an additional 372,701 shares during the period. Hedge funds and other institutional investors own 95.43% of the company’s stock.

CNO Financial Group Company Profile

CNO Financial Group, Inc, through its subsidiaries, develops, markets, and administers health insurance, annuity, individual life insurance, insurance products, and financial services for senior and middle-income markets in the United States. It offers Medicare supplement, supplemental health, and long-term care insurance policies; life insurance; and annuities, as well as Medicare advantage plans to individuals through phone, online, mail, and face-to-face.