CNO Financial Group (NYSE:CNO) Sets New 52-Week High – Here’s What Happened

Shares of CNO Financial Group, Inc. (NYSE:CNOGet Free Report) reached a new 52-week high on Friday . The stock traded as high as $48.10 and last traded at $47.8690, with a volume of 285859 shares changing hands. The stock had previously closed at $47.12.

Analyst Ratings Changes

CNO has been the topic of several analyst reports. Keefe, Bruyette & Woods upped their price objective on CNO Financial Group from $46.00 to $50.00 and gave the company a “market perform” rating in a research note on Tuesday, May 5th. Evercore set a $48.00 price objective on CNO Financial Group and gave the company an “in-line” rating in a research note on Monday, June 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of CNO Financial Group in a research note on Monday, April 20th. Finally, Wall Street Zen lowered CNO Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $48.75.

View Our Latest Analysis on CNO Financial Group

CNO Financial Group Stock Performance

The firm has a market capitalization of $4.47 billion, a P/E ratio of 19.22 and a beta of 0.81. The stock has a 50-day moving average of $44.52 and a 200 day moving average of $42.74. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.17 and a current ratio of 0.17.

CNO Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 24th. Investors of record on Wednesday, June 10th will be given a dividend of $0.18 per share. This is a boost from CNO Financial Group’s previous quarterly dividend of $0.17. The ex-dividend date is Wednesday, June 10th. This represents a $0.72 dividend on an annualized basis and a yield of 1.5%. CNO Financial Group’s dividend payout ratio is currently 27.31%.

Insider Buying and Selling

In related news, insider Scott L. Goldberg sold 11,060 shares of the stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $39.97, for a total transaction of $442,068.20. Following the sale, the insider directly owned 214,524 shares in the company, valued at $8,574,524.28. This represents a 4.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.44% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Optiver Holding B.V. boosted its position in CNO Financial Group by 90.1% in the 3rd quarter. Optiver Holding B.V. now owns 637 shares of the financial services provider’s stock valued at $25,000 after buying an additional 302 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in CNO Financial Group by 353.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 743 shares of the financial services provider’s stock valued at $29,000 after buying an additional 579 shares during the last quarter. Richardson Financial Services Inc. bought a new position in CNO Financial Group in the 4th quarter valued at $37,000. Bessemer Group Inc. boosted its position in CNO Financial Group by 75.4% in the 1st quarter. Bessemer Group Inc. now owns 1,133 shares of the financial services provider’s stock valued at $46,000 after buying an additional 487 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in CNO Financial Group by 123.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,176 shares of the financial services provider’s stock valued at $45,000 after buying an additional 649 shares during the last quarter. 95.43% of the stock is currently owned by institutional investors.

CNO Financial Group Company Profile

(Get Free Report)

CNO Financial Group is an Indiana‐based holding company that offers a range of insurance and retirement solutions through its operating subsidiaries. Its primary business activities include life insurance, annuities, and supplemental health insurance products designed to help individuals plan for retirement and manage health‐related expenses. The company serves middle‐income Americans, with particular emphasis on senior customers seeking guaranteed coverage and reliable income streams.

Originally founded as Conseco in 1979, the company underwent a financial restructuring and rebranded as CNO Financial Group in 2010.

Further Reading

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