CNO Financial Group (NYSE:CNO) Sets New 12-Month High – Here’s Why

CNO Financial Group, Inc. (NYSE:CNO)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $47.95 and last traded at $47.8750, with a volume of 33594 shares traded. The stock had previously closed at $46.82.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CNO shares. Wall Street Zen lowered CNO Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Keefe, Bruyette & Woods raised their price target on CNO Financial Group from $46.00 to $50.00 and gave the stock a “market perform” rating in a research note on Tuesday, May 5th. Weiss Ratings reissued a “buy (b)” rating on shares of CNO Financial Group in a research note on Monday, April 20th. Finally, Evercore reissued an “underperform” rating and issued a $43.00 price target on shares of CNO Financial Group in a research note on Wednesday, February 18th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $47.50.

CNO Financial Group Stock Down 2.0%

The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of 18.83 and a beta of 0.82. 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 firm has a 50 day moving average price of $42.82 and a two-hundred day moving average price of $42.19.

CNO Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 24th. Stockholders 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 represents a $0.72 annualized dividend and a dividend yield of 1.5%. This is an increase from CNO Financial Group’s previous quarterly dividend of $0.17. CNO Financial Group’s dividend payout ratio is presently 27.31%.

Insider Buying and Selling at CNO Financial Group

In related news, insider Scott L. Goldberg sold 11,060 shares of the firm’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $39.97, for a total transaction of $442,068.20. Following the sale, the insider directly owned 214,524 shares in the company, valued at approximately $8,574,524.28. This trade represents a 4.90% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.44% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CNO Financial Group

Several hedge funds have recently modified their holdings of the stock. Sequoia Financial Advisors LLC purchased a new stake in CNO Financial Group during the 3rd quarter worth approximately $1,077,000. GSA Capital Partners LLP purchased a new stake in CNO Financial Group during the 3rd quarter worth approximately $1,469,000. AlphaQuest LLC purchased a new stake in CNO Financial Group during the 3rd quarter worth approximately $3,057,000. Lighthouse Investment Partners LLC purchased a new stake in CNO Financial Group during the 3rd quarter worth approximately $8,018,000. Finally, JPMorgan Chase & Co. increased its holdings 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 purchasing an additional 91,417 shares during the last quarter. 95.43% of the stock is currently owned by hedge funds and other institutional investors.

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.