CNO Financial Group (NYSE:CNO) Sets New 12-Month High at $35.45

CNO Financial Group, Inc. (NYSE:CNO)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $35.45 and last traded at $35.44, with a volume of 336265 shares traded. The stock had previously closed at $34.79.

Wall Street Analyst Weigh In

A number of brokerages have commented on CNO. Keefe, Bruyette & Woods upped their price objective on shares of CNO Financial Group from $30.00 to $31.00 and gave the stock a “market perform” rating in a research report on Monday, July 8th. Evercore ISI upped their price objective on shares of CNO Financial Group from $27.00 to $29.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 31st. Royal Bank of Canada upped their price objective on shares of CNO Financial Group from $30.00 to $38.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, Piper Sandler restated an “overweight” rating and set a $37.00 price objective on shares of CNO Financial Group in a research report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, CNO Financial Group has an average rating of “Hold” and a consensus target price of $33.75.

CNO Financial Group Price Performance

The stock’s fifty day moving average price is $32.38 and its 200-day moving average price is $29.05. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.19 and a current ratio of 0.19. The firm has a market cap of $3.83 billion, a PE ratio of 10.25 and a beta of 1.01.

CNO Financial Group (NYSE:CNO) last announced its quarterly earnings results on Monday, July 29th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.33. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $929.99 million. CNO Financial Group had a net margin of 9.96% and a return on equity of 18.30%. The business’s revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.54 EPS. As a group, equities analysts forecast that CNO Financial Group, Inc. will post 3.43 EPS for the current fiscal year.

CNO Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 24th. Investors of record on Tuesday, September 10th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $0.64 dividend on an annualized basis and a yield of 1.81%. CNO Financial Group’s payout ratio is 18.66%.

Insider Activity at CNO Financial Group

In related news, insider Jeanne L. Linnenbringer sold 5,364 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $34.88, for a total value of $187,096.32. Following the sale, the insider now directly owns 44,884 shares of the company’s stock, valued at approximately $1,565,553.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Jeanne L. Linnenbringer sold 5,364 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $34.88, for a total value of $187,096.32. Following the sale, the insider now directly owns 44,884 shares of the company’s stock, valued at approximately $1,565,553.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jeanne L. Linnenbringer sold 5,435 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $34.26, for a total transaction of $186,203.10. Following the sale, the insider now directly owns 37,663 shares in the company, valued at $1,290,334.38. The disclosure for this sale can be found here. 3.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CNO Financial Group

Hedge funds and other institutional investors have recently modified their holdings of the company. American Century Companies Inc. grew its holdings in CNO Financial Group by 19.4% in the second quarter. American Century Companies Inc. now owns 2,117,416 shares of the financial services provider’s stock valued at $58,695,000 after purchasing an additional 343,819 shares during the period. Norges Bank purchased a new stake in CNO Financial Group in the fourth quarter valued at approximately $26,295,000. Victory Capital Management Inc. grew its holdings in CNO Financial Group by 455.1% in the second quarter. Victory Capital Management Inc. now owns 777,271 shares of the financial services provider’s stock valued at $21,546,000 after purchasing an additional 637,254 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in CNO Financial Group by 97.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 622,348 shares of the financial services provider’s stock valued at $17,251,000 after purchasing an additional 306,751 shares during the period. Finally, Easterly Investment Partners LLC grew its holdings in CNO Financial Group by 8.4% in the second quarter. Easterly Investment Partners LLC now owns 587,171 shares of the financial services provider’s stock valued at $16,276,000 after purchasing an additional 45,428 shares during the period. 95.43% of the stock is currently owned by hedge funds and other institutional investors.

About CNO Financial Group

CNO Financial Group, Inc, through its subsidiaries, develops, markets, and administers health insurance, annuity, individual life insurance, insurance products, and financial services for senior and middle-income markets in the United States. It offers Medicare supplement, supplemental health, and long-term care insurance policies; life insurance; and annuities, as well as Medicare advantage plans to individuals through phone, online, mail, and face-to-face.