CNO Financial Group (NYSE:CNO) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

CNO Financial Group, Inc. (NYSE:CNO)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $41.05 and traded as high as $41.37. CNO Financial Group shares last traded at $41.2080, with a volume of 534,536 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CNO shares. Jefferies Financial Group raised shares of CNO Financial Group from a “hold” rating to a “buy” rating and raised their price target for the stock from $42.00 to $47.00 in a report on Monday, December 15th. Evercore reaffirmed an “underperform” rating and set a $43.00 price objective on shares of CNO Financial Group in a research note on Wednesday, February 18th. Piper Sandler increased their price objective on CNO Financial Group from $46.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, December 23rd. Wall Street Zen raised shares of CNO Financial Group from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of CNO Financial Group in a research report on Wednesday, January 21st. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $46.25.

CNO Financial Group Stock Down 0.8%

The stock’s 50 day simple moving average is $42.34 and its two-hundred day simple moving average is $41.05. The firm has a market cap of $3.89 billion, a P/E ratio of 18.48 and a beta of 0.83. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.17 and a quick ratio of 0.17.

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

CNO Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $0.68 annualized dividend and a yield of 1.7%. CNO Financial Group’s payout ratio is 30.49%.

Insiders Place Their Bets

In other news, insider Yvonne K. Franzese sold 9,000 shares of the business’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $43.17, for a total value of $388,530.00. Following the completion of the transaction, the insider owned 35,062 shares in the company, valued at $1,513,626.54. The trade was a 20.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CMO Rocco F. Tarasi III sold 9,283 shares of the stock in a transaction on Monday, December 15th. The shares were sold at an average price of $42.60, for a total value of $395,455.80. Following the sale, the chief marketing officer directly owned 73,932 shares in the company, valued at $3,149,503.20. This trade represents a 11.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 226,431 shares of company stock worth $9,715,996 in the last 90 days. 3.38% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CNO Financial Group

Several hedge funds have recently modified their holdings of CNO. Corient Private Wealth LLC boosted its stake in CNO Financial Group by 2.6% during the fourth quarter. Corient Private Wealth LLC now owns 19,683 shares of the financial services provider’s stock valued at $836,000 after buying an additional 498 shares during the last quarter. Hsbc Holdings PLC increased its stake in CNO Financial Group by 102.1% in the 4th quarter. Hsbc Holdings PLC now owns 45,025 shares of the financial services provider’s stock worth $1,914,000 after acquiring an additional 22,749 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its stake in CNO Financial Group by 684.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,881 shares of the financial services provider’s stock worth $165,000 after acquiring an additional 3,386 shares during the last quarter. DGS Capital Management LLC raised its holdings in shares of CNO Financial Group by 16.8% during the 4th quarter. DGS Capital Management LLC now owns 17,017 shares of the financial services provider’s stock worth $723,000 after acquiring an additional 2,450 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of CNO Financial Group by 3.3% during the 4th quarter. Invesco Ltd. now owns 494,741 shares of the financial services provider’s stock valued at $21,012,000 after acquiring an additional 15,864 shares during the last quarter. Hedge funds and other institutional investors 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.