CNO Financial Group (NYSE:CNO) Sets New 12-Month High at $35.45

CNO Financial Group, Inc. (NYSE:CNO)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $35.45 and last traded at $35.44, with a volume of 336265 shares changing hands. The stock had previously closed at $34.79.

Analyst Ratings Changes

CNO has been the subject of a number of research analyst reports. Evercore ISI raised their price target on CNO Financial Group from $27.00 to $29.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 31st. Royal Bank of Canada boosted their price objective on shares of CNO Financial Group from $30.00 to $38.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Piper Sandler reiterated an “overweight” rating and issued a $37.00 price objective on shares of CNO Financial Group in a report on Friday, September 13th. Finally, Keefe, Bruyette & Woods raised their price target on shares of CNO Financial Group from $30.00 to $31.00 and gave the company a “market perform” rating in a report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $33.75.

CNO Financial Group Stock Down 0.2 %

The stock has a market cap of $3.83 billion, a P/E ratio of 10.31 and a beta of 1.01. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 1.66. The company’s 50 day moving average price is $32.64 and its two-hundred day moving average price is $29.16.

CNO Financial Group (NYSE:CNO) last posted its quarterly earnings data on Monday, July 29th. The financial services provider reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.33. CNO Financial Group had a return on equity of 18.30% and a net margin of 9.96%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $929.99 million. During the same period in the previous year, the firm earned $0.54 EPS. The business’s quarterly revenue was up 4.2% on a year-over-year basis. Equities analysts forecast that CNO Financial Group, Inc. will post 3.43 earnings per share for the current year.

CNO Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 24th. Stockholders of record on Tuesday, September 10th will be paid a $0.16 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.81%. CNO Financial Group’s dividend payout ratio (DPR) is presently 18.66%.

Insider Activity at CNO Financial Group

In other CNO Financial Group news, insider Jeanne L. Linnenbringer sold 5,364 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $34.88, for a total transaction of $187,096.32. Following the sale, the insider now directly owns 44,884 shares of the company’s stock, valued at $1,565,553.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Jeanne L. Linnenbringer sold 5,435 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $34.26, for a total transaction of $186,203.10. Following the completion of the transaction, the insider now directly owns 37,663 shares of the company’s stock, valued at $1,290,334.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeanne L. Linnenbringer sold 5,364 shares of CNO Financial Group stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $34.88, for a total transaction of $187,096.32. Following the completion of the sale, the insider now owns 44,884 shares in the company, valued at $1,565,553.92. The disclosure for this sale can be found here. 3.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. American Century Companies Inc. increased its stake in CNO Financial Group by 19.4% in the 2nd quarter. American Century Companies Inc. now owns 2,117,416 shares of the financial services provider’s stock worth $58,695,000 after acquiring an additional 343,819 shares during the last quarter. Norges Bank purchased a new stake in CNO Financial Group during the fourth quarter valued at $26,295,000. Victory Capital Management Inc. lifted its position in CNO Financial Group by 455.1% during the second quarter. Victory Capital Management Inc. now owns 777,271 shares of the financial services provider’s stock valued at $21,546,000 after purchasing an additional 637,254 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of CNO Financial Group by 97.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 622,348 shares of the financial services provider’s stock worth $17,251,000 after buying an additional 306,751 shares in the last quarter. Finally, Easterly Investment Partners LLC raised its position in shares of CNO Financial Group by 8.4% during the 2nd quarter. Easterly Investment Partners LLC now owns 587,171 shares of the financial services provider’s stock valued at $16,276,000 after buying an additional 45,428 shares in the last quarter. Hedge funds and other institutional investors own 95.43% of the company’s stock.

About CNO Financial Group

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.