Yvonne K. Franzese Sells 2,097 Shares of CNO Financial Group, Inc. (NYSE:CNO) Stock

CNO Financial Group, Inc. (NYSE:CNO) insider Yvonne K. Franzese sold 2,097 shares of the company’s stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $42.56, for a total transaction of $89,248.32. Following the sale, the insider now directly owns 30,321 shares of the company’s stock, valued at $1,290,461.76. The trade was a 6.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

CNO Financial Group Stock Up 0.2 %

Shares of CNO traded up $0.08 during mid-day trading on Wednesday, hitting $42.34. 666,120 shares of the company’s stock were exchanged, compared to its average volume of 654,913. The stock’s 50-day moving average is $40.24 and its 200-day moving average is $37.90. The company has a market cap of $4.25 billion, a price-to-earnings ratio of 11.32 and a beta of 1.02. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.19 and a current ratio of 0.22. CNO Financial Group, Inc. has a fifty-two week low of $24.92 and a fifty-two week high of $43.12.

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, beating analysts’ consensus estimates of $1.06 by $0.25. CNO Financial Group had a return on equity of 17.20% and a net margin of 9.08%. On average, sell-side analysts anticipate that CNO Financial Group, Inc. will post 3.83 earnings per share for the current fiscal year.

CNO Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend was Monday, March 10th. CNO Financial Group’s dividend payout ratio is presently 17.11%.

Analyst Ratings Changes

A number of research firms recently weighed in on CNO. Jefferies Financial Group boosted their price target 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. Piper Sandler restated an “overweight” rating and set a $46.00 target price (up from $44.00) on shares of CNO Financial Group in a report on Monday, February 10th. BMO Capital Markets started coverage on CNO Financial Group in a report on Thursday, January 23rd. They issued a “market perform” rating and a $38.00 price target for the company. Keefe, Bruyette & Woods lifted their price objective on 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. Finally, Royal Bank of Canada upped their target price on CNO Financial Group from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, February 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $40.50.

Institutional Investors Weigh In On CNO Financial Group

Several institutional investors have recently modified their holdings of the company. Bank of America Corp DE raised its stake in CNO Financial Group by 236.9% in the fourth quarter. Bank of America Corp DE now owns 922,411 shares of the financial services provider’s stock valued at $34,323,000 after buying an additional 648,591 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in CNO Financial Group during the 4th quarter worth $15,093,000. Balyasny Asset Management L.P. purchased a new stake in CNO Financial Group in the fourth quarter valued at $14,270,000. Norges Bank purchased a new stake in shares of CNO Financial Group in the 4th quarter valued at about $13,975,000. Finally, JPMorgan Chase & Co. grew its position in shares of CNO Financial Group by 41.3% during 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 last quarter. 95.43% of the stock is owned by hedge funds and other 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.