CNO Financial Group (NYSE:CNO) General Counsel Sells $1,329,542.10 in Stock

CNO Financial Group, Inc. (NYSE:CNO) General Counsel Matthew Zimpfer sold 30,970 shares of the company’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $42.93, for a total transaction of $1,329,542.10. Following the transaction, the general counsel owned 307,937 shares in the company, valued at $13,219,735.41. This represents a 9.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

CNO Financial Group Price Performance

CNO stock opened at $43.06 on Friday. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.17 and a quick ratio of 0.18. The company’s 50-day moving average is $42.38 and its 200-day moving average is $40.44. The stock has a market capitalization of $4.11 billion, a PE ratio of 19.31 and a beta of 0.84. CNO Financial Group, Inc. has a 1 year low of $34.63 and a 1 year high of $44.85.

CNO Financial Group (NYSE:CNO) last posted its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.27. CNO Financial Group had a return on equity of 15.80% and a net margin of 4.94%.The business had revenue of $101.10 million for the quarter, compared to the consensus estimate of $1 billion. During the same period in the prior year, the business earned $1.18 EPS. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. Equities research analysts expect that CNO Financial Group, Inc. will post 3.83 EPS for the current fiscal year.

CNO Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $0.68 annualized dividend and a dividend yield of 1.6%. CNO Financial Group’s dividend payout ratio is 30.49%.

Hedge Funds Weigh In On CNO Financial Group

Institutional investors have recently added to or reduced their stakes in the stock. Optiver Holding B.V. boosted its stake in CNO Financial Group by 90.1% in the third quarter. Optiver Holding B.V. now owns 637 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 302 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of 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 worth $29,000 after purchasing an additional 579 shares during the period. First Horizon Corp bought a new stake in shares of CNO Financial Group in the 3rd quarter worth approximately $32,000. Turning Point Benefit Group Inc. purchased a new position in CNO Financial Group in the second quarter valued at approximately $32,000. Finally, Richardson Financial Services Inc. bought a new position in CNO Financial Group during the fourth quarter valued at $37,000. Institutional investors own 95.43% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CNO. Weiss Ratings reiterated a “buy (b)” rating on shares of CNO Financial Group in a report on Wednesday, January 21st. Wall Street Zen lowered shares of CNO Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Jefferies Financial Group upgraded shares of CNO Financial Group from a “hold” rating to a “buy” rating and increased their target price for the company from $42.00 to $47.00 in a report on Monday, December 15th. Finally, Piper Sandler boosted their price target on shares of CNO Financial Group from $46.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, December 23rd. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, CNO Financial Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.33.

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.