Insider Selling: CNO Financial Group, Inc. (NYSE:CNO) General Counsel Sells 40,800 Shares of Stock

CNO Financial Group, Inc. (NYSE:CNO) General Counsel Matthew J. Zimpfer sold 40,800 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $41.49, for a total value of $1,692,792.00. Following the completion of the transaction, the general counsel now directly owns 244,943 shares in the company, valued at approximately $10,162,685.07. This represents a 14.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

CNO Financial Group Trading Down 2.0 %

Shares of CNO opened at $39.81 on Monday. The company has a quick ratio of 0.19, a current ratio of 0.22 and a debt-to-equity ratio of 1.61. CNO Financial Group, Inc. has a 12-month low of $24.92 and a 12-month high of $42.02. The firm has a market capitalization of $4.11 billion, a PE ratio of 10.64 and a beta of 1.04. The stock’s fifty day simple moving average is $38.72 and its 200-day simple moving average is $36.77.

CNO Financial Group (NYSE:CNO) last issued its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.25. CNO Financial Group had a return on equity of 17.20% and a net margin of 9.08%. As a group, research analysts predict that CNO Financial Group, Inc. will post 3.83 earnings per share for the current year.

CNO Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Monday, March 10th. CNO Financial Group’s payout ratio is 17.11%.

Hedge Funds Weigh In On CNO Financial Group

Hedge funds have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp lifted its stake in CNO Financial Group by 368.2% in the fourth quarter. Jones Financial Companies Lllp now owns 796 shares of the financial services provider’s stock valued at $30,000 after buying an additional 626 shares during the period. Smartleaf Asset Management LLC lifted its stake in CNO Financial Group by 95.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 855 shares of the financial services provider’s stock valued at $32,000 after buying an additional 417 shares during the period. Principal Securities Inc. lifted its stake in CNO Financial Group by 51.6% in the fourth quarter. Principal Securities Inc. now owns 955 shares of the financial services provider’s stock valued at $36,000 after buying an additional 325 shares during the period. Quarry LP lifted its stake in CNO Financial Group by 137.8% in the fourth quarter. Quarry LP now owns 1,334 shares of the financial services provider’s stock valued at $50,000 after buying an additional 773 shares during the period. Finally, Headlands Technologies LLC lifted its stake in CNO Financial Group by 193.2% in the fourth quarter. Headlands Technologies LLC now owns 1,337 shares of the financial services provider’s stock valued at $50,000 after buying an additional 881 shares during the period. Institutional investors and hedge funds own 95.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CNO shares. BMO Capital Markets started coverage on CNO Financial Group in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $38.00 price objective on the stock. Jefferies Financial Group boosted their price objective on CNO Financial Group from $36.00 to $41.00 and gave the stock a “hold” rating in a research note on Tuesday, December 10th. Piper Sandler reissued an “overweight” rating and issued a $46.00 price objective (up previously from $44.00) on shares of CNO Financial Group in a research note on Monday, February 10th. Royal Bank of Canada boosted their price objective on CNO Financial Group from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, February 10th. Finally, Keefe, Bruyette & Woods upped their price target on CNO Financial Group from $42.00 to $44.00 and gave the company a “market perform” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $40.50.

CNO Financial Group Company Profile

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.