CNO Financial Group, Inc. (NYSE:CNO – Get Free Report)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $53.34 and last traded at $53.1750, with a volume of 10216 shares. The stock had previously closed at $52.64.
Analyst Ratings Changes
CNO has been the subject of a number of recent research reports. Keefe, Bruyette & Woods increased their price objective on CNO Financial Group from $46.00 to $50.00 and gave the company a “market perform” rating in a research report on Tuesday, May 5th. Evercore set a $48.00 target price on CNO Financial Group and gave the stock an “in-line” rating in a report on Monday, June 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of CNO Financial Group in a research report on Monday, April 20th. Finally, Wall Street Zen downgraded CNO Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, CNO Financial Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.75.
View Our Latest Analysis on CNO
CNO Financial Group Price Performance
CNO Financial Group Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 10th were paid a dividend of $0.18 per share. This is an increase from CNO Financial Group’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $0.72 annualized dividend and a yield of 1.3%. CNO Financial Group’s dividend payout ratio (DPR) is presently 28.92%.
Insider Buying and Selling at CNO Financial Group
In other news, CMO Rocco F. Tarasi III sold 5,750 shares of CNO Financial Group stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $50.00, for a total transaction of $287,500.00. Following the transaction, the chief marketing officer owned 79,191 shares in the company, valued at approximately $3,959,550. The trade was a 6.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gary C. Bhojwani sold 86,048 shares of the company’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $51.48, for a total value of $4,429,751.04. Following the transaction, the chief executive officer directly owned 174,264 shares in the company, valued at $8,971,110.72. The trade was a 33.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 95,106 shares of company stock worth $4,879,343. Company insiders own 3.44% of the company’s stock.
Hedge Funds Weigh In On CNO Financial Group
Large investors have recently made changes to their positions in the business. Richardson Financial Services Inc. acquired a new stake in shares of CNO Financial Group during the fourth quarter worth approximately $37,000. Versant Capital Management Inc grew its position in CNO Financial Group by 72.0% during the second quarter. Versant Capital Management Inc now owns 1,132 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 474 shares in the last quarter. Bessemer Group Inc. increased its stake 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 period. EverSource Wealth Advisors LLC increased its stake 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 period. Finally, Osaic Holdings Inc. lifted its position in CNO Financial Group by 39.2% in the 2nd quarter. Osaic Holdings Inc. now owns 1,194 shares of the financial services provider’s stock worth $46,000 after buying an additional 336 shares in the last quarter. Institutional investors and hedge funds own 95.43% of the company’s stock.
CNO Financial Group Company Profile
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.
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