CNO Financial Group, Inc. (NYSE:CNO – Get Free Report) CMO Rocco Tarasi III sold 5,750 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $50.00, for a total transaction of $287,500.00. Following the completion of the sale, the chief marketing officer directly owned 79,191 shares in the company, valued at approximately $3,959,550. This represents a 6.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
CNO Financial Group Trading Up 0.7%
NYSE:CNO opened at $50.33 on Friday. The firm’s fifty day moving average is $45.40 and its 200-day moving average is $43.07. 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, Inc. has a 52 week low of $35.24 and a 52 week high of $50.71. The firm has a market cap of $4.70 billion, a P/E ratio of 20.21 and a beta of 0.81.
CNO Financial Group Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 10th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.4%. This is an increase from CNO Financial Group’s previous quarterly dividend of $0.17. CNO Financial Group’s payout ratio is currently 28.92%.
Institutional Inflows and Outflows
Wall Street Analysts Forecast Growth
CNO has been the topic of several research analyst reports. Wall Street Zen lowered shares of CNO Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Keefe, Bruyette & Woods increased their target price on shares of CNO Financial Group from $46.00 to $50.00 and gave the stock a “market perform” rating in a research note on Tuesday, May 5th. Evercore set a $48.00 target price on shares of CNO Financial Group and gave the stock an “in-line” rating in a research note on Monday, June 1st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of CNO Financial Group in a research note on Monday, April 20th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $48.75.
Get Our Latest Analysis on CNO
About CNO Financial Group
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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