CNO Financial Group (NYSE:CNO) CMO Rocco Tarasi III Sells 3,308 Shares

CNO Financial Group, Inc. (NYSE:CNO) CMO Rocco Tarasi III sold 3,308 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $49.00, for a total transaction of $162,092.00. Following the completion of the sale, the chief marketing officer directly owned 79,191 shares in the company, valued at approximately $3,880,359. The trade was a 4.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CNO Financial Group Stock Performance

NYSE CNO opened at $49.99 on Friday. The stock has a market cap of $4.67 billion, a P/E ratio of 20.08 and a beta of 0.81. The company’s 50-day simple moving average is $45.21 and its 200 day simple moving average is $43.02. CNO Financial Group, Inc. has a twelve month low of $35.24 and a twelve month high of $50.20. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 1.61.

CNO Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 24th. Investors 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 is an increase from CNO Financial Group’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 1.4%. CNO Financial Group’s payout ratio is presently 28.92%.

Hedge Funds Weigh In On CNO Financial Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNO. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in CNO Financial Group in the fourth quarter valued at about $18,297,000. Jain Global LLC acquired a new position in CNO Financial Group in the fourth quarter valued at about $17,996,000. Millennium Management LLC boosted its position in CNO Financial Group by 190.3% in the third quarter. Millennium Management LLC now owns 579,656 shares of the financial services provider’s stock valued at $22,925,000 after buying an additional 379,984 shares in the last quarter. Capitolis Liquid Global Markets LLC boosted its position in CNO Financial Group by 384.9% in the third quarter. Capitolis Liquid Global Markets LLC now owns 438,800 shares of the financial services provider’s stock valued at $17,355,000 after buying an additional 348,300 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in CNO Financial Group by 35.6% in the fourth quarter. AQR Capital Management LLC now owns 1,218,033 shares of the financial services provider’s stock valued at $51,730,000 after buying an additional 319,795 shares in the last quarter. 95.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CNO has been the topic of a number of analyst reports. Keefe, Bruyette & Woods upped their target price on shares of CNO Financial Group from $46.00 to $50.00 and gave the company a “market perform” rating in a research note on Tuesday, May 5th. Weiss Ratings restated a “buy (b)” rating on shares of CNO Financial Group in a research report on Monday, April 20th. Evercore set a $48.00 price target on shares of CNO Financial Group and gave the company an “in-line” rating in a research report on Monday, June 1st. Finally, Wall Street Zen lowered shares of CNO Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.75.

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.