CNO Financial Group (NYSE:CNO) Reaches New 1-Year High at $29.17

Shares of CNO Financial Group, Inc. (NYSE:CNO) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $29.17 and last traded at $29.16, with a volume of 24555 shares trading hands. The stock had previously closed at $28.88.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CNO. StockNews.com lowered shares of CNO Financial Group from a “buy” rating to a “hold” rating in a report on Friday, April 12th. Piper Sandler lifted their price objective on shares of CNO Financial Group from $29.00 to $31.00 and gave the stock an “overweight” rating in a research note on Friday, June 28th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of CNO Financial Group from $30.00 to $31.00 and gave the stock a “market perform” rating in a research note on Monday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $28.60.

CNO Financial Group Stock Up 1.1 %

The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of 8.42 and a beta of 1.04. The business’s 50-day moving average is $27.89 and its 200-day moving average is $27.25. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.41.

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

CNO Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Monday, June 10th were given a $0.16 dividend. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.19%. This is an increase from CNO Financial Group’s previous quarterly dividend of $0.15. CNO Financial Group’s dividend payout ratio is 18.66%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On CNO Financial Group

Several large investors have recently made changes to their positions in the stock. Norges Bank acquired a new stake in CNO Financial Group during the 4th quarter worth approximately $26,295,000. Retirement Systems of Alabama acquired a new stake in CNO Financial Group during the 4th quarter worth approximately $10,568,000. Allspring Global Investments Holdings LLC lifted its holdings in CNO Financial Group by 1,862.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 315,597 shares of the financial services provider’s stock worth $8,673,000 after buying an additional 299,516 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of CNO Financial Group by 97.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 587,569 shares of the financial services provider’s stock valued at $16,393,000 after purchasing an additional 290,585 shares during the last quarter. Finally, Hillsdale Investment Management Inc. purchased a new stake in shares of CNO Financial Group in the 4th quarter valued at approximately $4,071,000. 95.43% of the stock is currently owned by institutional investors and hedge funds.

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.