Insider Selling: CNO Financial Group (NYSE:CNO) Insider Sells $243,050.64 in Stock

CNO Financial Group, Inc. (NYSE:CNOGet Free Report) insider Jeremy Williams sold 4,362 shares of the business’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $55.72, for a total transaction of $243,050.64. Following the sale, the insider directly owned 61,041 shares in the company, valued at $3,401,204.52. This trade represents a 6.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CNO Financial Group Stock Down 0.4%

Shares of NYSE CNO traded down $0.23 during mid-day trading on Wednesday, hitting $55.49. The company had a trading volume of 1,335,425 shares, compared to its average volume of 741,348. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 1.65. The firm has a 50-day simple moving average of $54.29 and a two-hundred day simple moving average of $48.51. The company has a market capitalization of $5.13 billion, a PE ratio of 19.07 and a beta of 0.80. CNO Financial Group, Inc. has a one year low of $38.22 and a one year high of $57.59.

CNO Financial Group (NYSE:CNOGet Free Report) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.26 EPS for the quarter, beating the consensus estimate of $0.97 by $0.29. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $999.45 million. CNO Financial Group had a return on equity of 18.76% and a net margin of 6.02%.The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.87 earnings per share. On average, equities analysts expect that CNO Financial Group, Inc. will post 4.74 EPS for the current year.

CNO Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Thursday, September 10th. CNO Financial Group’s dividend payout ratio is presently 24.74%.

Analysts Set New Price Targets

CNO has been the topic of a number of recent analyst reports. Evercore set a $48.00 target price on shares of CNO Financial Group and gave the stock an “in-line” rating in a report on Monday, June 1st. Keefe, Bruyette & Woods lifted their price objective on shares of CNO Financial Group from $53.00 to $57.00 and gave the company a “market perform” rating in a research report on Monday, August 3rd. Weiss Ratings raised shares of CNO Financial Group from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday, August 11th. Capital One Financial set a $70.00 target price on shares of CNO Financial Group in a report on Wednesday, August 26th. Finally, Jefferies Financial Group downgraded shares of CNO Financial Group from a “buy” rating to a “hold” rating and raised their target price for the company from $53.00 to $55.00 in a research note on Friday, July 10th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $56.00.

Check Out Our Latest Analysis on CNO

Hedge Funds Weigh In On CNO Financial Group

Several large investors have recently modified their holdings of CNO. BlackRock Inc. bought a new position in shares of CNO Financial Group during the second quarter worth approximately $682,433,000. Pzena Investment Management LLC acquired a new stake in CNO Financial Group during the second quarter worth approximately $124,476,000. Bank of America Corp DE acquired a new stake in CNO Financial Group during the second quarter worth approximately $50,034,000. Bank of New York Mellon Corp acquired a new position in CNO Financial Group in the 2nd quarter valued at $44,529,000. Finally, Assenagon Asset Management S.A. raised its holdings in CNO Financial Group by 926.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 795,165 shares of the financial services provider’s stock valued at $40,538,000 after acquiring an additional 717,710 shares in the last quarter. 95.43% of the stock is owned by institutional investors.

CNO Financial Group Company Profile

(Get Free Report)

CNO Financial Group, Inc is an insurance holding company headquartered in Carmel, Indiana. Through its operating companies, CNO provides insurance and related financial products designed primarily for middle-income Americans, including individuals and families approaching or living in retirement.

CNO’s businesses include Bankers Life, which offers life insurance, annuities and long-term care products through agents; Colonial Penn, which markets life insurance directly to consumers; and Washington National, which provides supplemental health and life insurance products.

See Also

Insider Buying and Selling by Quarter for CNO Financial Group (NYSE:CNO)

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