CNO Financial Group (NYSE:CNO) Reaches New 1-Year High at $30.70

Shares of CNO Financial Group, Inc. (NYSE:CNO) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $30.70 and last traded at $30.51, with a volume of 60305 shares. The stock had previously closed at $30.44.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Keefe, Bruyette & Woods boosted their price target on CNO Financial Group from $30.00 to $31.00 and gave the stock a “market perform” rating in a research report on Monday, July 8th. Piper Sandler boosted their price target on shares of CNO Financial Group from $29.00 to $31.00 and gave the stock an “overweight” rating in a research report on Friday, June 28th. Finally, StockNews.com cut shares of CNO Financial Group from a “buy” rating to a “hold” rating in a report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $28.60.

CNO Financial Group Price Performance

The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.18 and a current ratio of 0.18. The company’s 50 day moving average price is $28.30 and its 200-day moving average price is $27.41. The company has a market cap of $3.33 billion, a price-to-earnings ratio of 8.97 and a beta of 1.04.

CNO Financial Group (NYSE:CNO) last issued its earnings results on Monday, April 29th. The financial services provider reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.12). CNO Financial Group had a return on equity of 16.77% and a net margin of 9.07%. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $935.76 million. During the same quarter in the previous year, the business posted $0.51 earnings per share. The company’s quarterly revenue was up 15.0% on a year-over-year basis. On average, equities research analysts forecast that CNO Financial Group, Inc. will post 3.06 earnings per share for the current fiscal year.

CNO Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Monday, June 10th were given a $0.16 dividend. This is a positive change from CNO Financial Group’s previous quarterly dividend of $0.15. The ex-dividend date was Monday, June 10th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.08%. CNO Financial Group’s dividend payout ratio (DPR) is 18.66%.

Insiders Place Their Bets

In other CNO Financial Group news, insider Yvonne K. Franzese sold 15,021 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $28.25, for a total value of $424,343.25. Following the completion of the transaction, the insider now directly owns 31,611 shares in the company, valued at $893,010.75. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CMO Rocco F. Tarasi III sold 3,197 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $28.00, for a total value of $89,516.00. Following the completion of the sale, the chief marketing officer now directly owns 84,880 shares of the company’s stock, valued at approximately $2,376,640. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Yvonne K. Franzese sold 15,021 shares of CNO Financial Group stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $28.25, for a total value of $424,343.25. Following the transaction, the insider now directly owns 31,611 shares in the company, valued at approximately $893,010.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,421 shares of company stock worth $975,861. Company insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On CNO Financial Group

Several institutional investors have recently made changes to their positions in CNO. CWM LLC boosted its position in CNO Financial Group by 64.1% during the second quarter. CWM LLC now owns 1,144 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 447 shares during the period. Daiwa Securities Group Inc. bought a new position in shares of CNO Financial Group during the 4th quarter worth about $50,000. EntryPoint Capital LLC bought a new stake in shares of CNO Financial Group in the first quarter valued at about $52,000. Blue Trust Inc. grew its holdings in shares of CNO Financial Group by 25.4% during the 2nd quarter. Blue Trust Inc. now owns 2,384 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 483 shares in the last quarter. Finally, Covestor Ltd lifted its position in CNO Financial Group by 18.9% in the first quarter. Covestor Ltd now owns 3,598 shares of the financial services provider’s stock worth $99,000 after purchasing an additional 571 shares during the period. 95.43% of the stock is currently owned by institutional investors and hedge funds.

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.