CNO Financial Group, Inc. (NYSE:CNO) Short Interest Up 27.2% in March

CNO Financial Group, Inc. (NYSE:CNO) saw a large increase in short interest in March. As of March 15th, there was short interest totalling 2,340,000 shares, an increase of 27.2% from the February 28th total of 1,840,000 shares. Based on an average daily trading volume, of 653,400 shares, the short-interest ratio is currently 3.6 days. Approximately 2.4% of the company’s stock are sold short.

CNO Financial Group Stock Performance

Shares of NYSE CNO traded up $0.47 during midday trading on Tuesday, hitting $42.12. 175,456 shares of the company’s stock traded hands, compared to its average volume of 704,967. The firm has a fifty day moving average of $40.51 and a 200 day moving average of $38.17. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.19 and a current ratio of 0.22. The stock has a market capitalization of $4.22 billion, a price-to-earnings ratio of 11.26 and a beta of 1.02. CNO Financial Group has a 1 year low of $24.92 and a 1 year high of $43.20.

CNO Financial Group (NYSE:CNO) last issued its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.25. CNO Financial Group had a net margin of 9.08% and a return on equity of 17.20%. On average, analysts forecast that CNO Financial Group will post 3.83 earnings per share for the current year.

CNO Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.52%. The ex-dividend date was Monday, March 10th. CNO Financial Group’s dividend payout ratio is presently 17.11%.

Analyst Ratings Changes

Several analysts have commented on CNO shares. Keefe, Bruyette & Woods increased their target price on CNO Financial Group from $42.00 to $44.00 and gave the company a “market perform” rating in a research note on Wednesday, February 12th. BMO Capital Markets began coverage on CNO Financial Group in a report on Thursday, January 23rd. They issued a “market perform” rating and a $38.00 price objective for the company. Jefferies Financial Group upped their target price on shares of CNO Financial Group from $36.00 to $41.00 and gave the company a “hold” rating in a research note on Tuesday, December 10th. Royal Bank of Canada lifted their price target on shares of CNO Financial Group from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, February 10th. Finally, Piper Sandler restated an “overweight” rating and set a $46.00 price objective (up previously from $44.00) on shares of CNO Financial Group in a research report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $40.50.

Insider Activity at CNO Financial Group

In other CNO Financial Group news, insider Yvonne K. Franzese sold 8,109 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $42.00, for a total transaction of $340,578.00. Following the completion of the sale, the insider now directly owns 38,540 shares in the company, valued at approximately $1,618,680. This trade represents a 17.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Scott L. Goldberg sold 25,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $40.11, for a total transaction of $1,022,805.00. Following the completion of the transaction, the insider now owns 169,342 shares in the company, valued at approximately $6,792,307.62. This represents a 13.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 144,819 shares of company stock valued at $5,886,922 in the last 90 days. Corporate insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Principal Securities Inc. increased its holdings in CNO Financial Group by 51.6% in the 4th quarter. Principal Securities Inc. now owns 955 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 325 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of CNO Financial Group by 58.7% in the fourth quarter. Pacer Advisors Inc. now owns 24,580 shares of the financial services provider’s stock worth $915,000 after purchasing an additional 9,096 shares during the period. Blue Trust Inc. boosted its position in shares of CNO Financial Group by 7.4% in the fourth quarter. Blue Trust Inc. now owns 6,737 shares of the financial services provider’s stock worth $236,000 after purchasing an additional 464 shares during the period. KBC Group NV increased its stake in shares of CNO Financial Group by 49.0% in the fourth quarter. KBC Group NV now owns 4,990 shares of the financial services provider’s stock worth $186,000 after purchasing an additional 1,641 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in shares of CNO Financial Group during the 4th quarter valued at $903,000. Institutional investors own 95.43% of the company’s stock.

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.