CNO Financial Group (NYSE:CNO) Sets New 52-Week High – Still a Buy?

Shares of CNO Financial Group, Inc. (NYSE:CNO) hit a new 52-week high on Tuesday . The stock traded as high as $35.69 and last traded at $35.63, with a volume of 22019 shares trading hands. The stock had previously closed at $35.39.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Royal Bank of Canada lifted their target price on CNO Financial Group from $30.00 to $38.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Evercore ISI upped their price target on shares of CNO Financial Group from $27.00 to $29.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 31st. Keefe, Bruyette & Woods raised their price objective on shares of CNO Financial Group from $30.00 to $31.00 and gave the company a “market perform” rating in a research report on Monday, July 8th. Finally, Piper Sandler boosted their price target on CNO Financial Group from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $34.00.

CNO Financial Group Trading Up 2.3 %

The business’s 50-day simple moving average is $33.69 and its 200-day simple moving average is $30.07. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.19 and a current ratio of 0.19. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of 10.38 and a beta of 1.01.

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

CNO Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 24th. Investors of record on Tuesday, September 10th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date was Tuesday, September 10th. CNO Financial Group’s payout ratio is presently 18.66%.

Insider Buying and Selling

In related news, insider Jeanne L. Linnenbringer sold 5,364 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $34.88, for a total transaction of $187,096.32. Following the transaction, the insider now directly owns 44,884 shares of the company’s stock, valued at approximately $1,565,553.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Jeanne L. Linnenbringer sold 5,435 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $34.26, for a total value of $186,203.10. Following the completion of the sale, the insider now owns 37,663 shares of the company’s stock, valued at approximately $1,290,334.38. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jeanne L. Linnenbringer sold 5,364 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 44,884 shares of the company’s stock, valued at $1,565,553.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CNO Financial Group

Institutional investors have recently modified their holdings of the company. CWM LLC raised its stake in CNO Financial Group by 53.0% during the third quarter. CWM LLC now owns 1,750 shares of the financial services provider’s stock worth $61,000 after buying an additional 606 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of CNO Financial Group by 141.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,985 shares of the financial services provider’s stock valued at $70,000 after purchasing an additional 1,164 shares during the period. SG Americas Securities LLC lifted its stake in shares of CNO Financial Group by 480.2% in the 3rd quarter. SG Americas Securities LLC now owns 37,153 shares of the financial services provider’s stock valued at $1,304,000 after purchasing an additional 30,750 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of CNO Financial Group during the 2nd quarter valued at about $1,896,000. Finally, Point72 DIFC Ltd acquired a new stake in CNO Financial Group during the second quarter worth approximately $89,000. 95.43% of the stock is owned by institutional investors.

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.