CNO Financial Group (NYSE:CNO) Hits New 1-Year High – Here’s Why

CNO Financial Group, Inc. (NYSE:CNO)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $53.34 and last traded at $53.1750, with a volume of 10216 shares changing hands. The stock had previously closed at $52.64.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CNO shares. Keefe, Bruyette & Woods increased their price objective on CNO Financial Group from $46.00 to $50.00 and gave the stock a “market perform” rating in a report on Tuesday, May 5th. Wall Street Zen downgraded CNO Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of CNO Financial Group in a research report on Monday, April 20th. Finally, Evercore set a $48.00 price target on CNO Financial Group and gave the stock an “in-line” rating in a research note on Monday, June 1st. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.75.

CNO Financial Group Stock Up 1.6%

The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 1.61. The business’s fifty day moving average price is $48.30 and its two-hundred day moving average price is $44.30. The firm has a market cap of $4.99 billion, a P/E ratio of 21.46 and a beta of 0.81.

CNO Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 10th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.3%. This is an increase from CNO Financial Group’s previous quarterly dividend of $0.17. The ex-dividend date was Wednesday, June 10th. CNO Financial Group’s dividend payout ratio is 28.92%.

Insider Transactions at CNO Financial Group

In related news, CMO Rocco F. Tarasi III sold 5,750 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $50.00, for a total value of $287,500.00. Following the transaction, the chief marketing officer directly owned 79,191 shares of the company’s stock, valued at approximately $3,959,550. This trade represents a 6.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gary C. Bhojwani sold 86,048 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $51.48, for a total value of $4,429,751.04. Following the completion of the sale, the chief executive officer owned 174,264 shares of the company’s stock, valued at approximately $8,971,110.72. This trade represents a 33.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 95,106 shares of company stock valued at $4,879,343 in the last ninety days. Insiders own 3.44% of the company’s stock.

Hedge Funds Weigh In On CNO Financial Group

A number of institutional investors have recently modified their holdings of CNO. Lighthouse Investment Partners LLC acquired a new position in CNO Financial Group in the 3rd quarter valued at $8,018,000. JPMorgan Chase & Co. lifted its position in CNO Financial Group by 11.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 882,512 shares of the financial services provider’s stock worth $34,903,000 after acquiring an additional 91,417 shares during the last quarter. Franklin Resources Inc. lifted its position in CNO Financial Group by 1.0% during the 3rd quarter. Franklin Resources Inc. now owns 4,302,316 shares of the financial services provider’s stock worth $170,157,000 after acquiring an additional 42,467 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in CNO Financial Group during the 1st quarter worth $1,125,000. Finally, SG Americas Securities LLC boosted its holdings in CNO Financial Group by 83.4% during the fourth quarter. SG Americas Securities LLC now owns 35,381 shares of the financial services provider’s stock valued at $1,503,000 after acquiring an additional 16,092 shares during the period. Institutional investors own 95.43% of the company’s stock.

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.