CNO Financial Group (NYSE:CNO) Reaches New 1-Year High – Still a Buy?

CNO Financial Group, Inc. (NYSE:CNO) hit a new 52-week high during trading on Tuesday . The stock traded as high as $42.71 and last traded at $42.62, with a volume of 34706 shares trading hands. The stock had previously closed at $42.21.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $46.00 price objective (up from $44.00) on shares of CNO Financial Group in a report on Monday, February 10th. Jefferies Financial Group upped their price target on shares of CNO Financial Group from $36.00 to $41.00 and gave the company a “hold” rating in a report on Tuesday, December 10th. BMO Capital Markets began coverage on CNO Financial Group in a research note on Thursday, January 23rd. They set a “market perform” rating and a $38.00 price objective for the company. Royal Bank of Canada upped their target price 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 lifted their price target on CNO Financial Group from $42.00 to $44.00 and gave the company a “market perform” rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, CNO Financial Group currently has an average rating of “Hold” and an average price target of $40.50.

CNO Financial Group Price Performance

The company has a current ratio of 0.22, a quick ratio of 0.19 and a debt-to-equity ratio of 1.61. The stock has a 50-day moving average price of $40.15 and a 200 day moving average price of $37.83. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of 11.39 and a beta of 1.02.

CNO Financial Group (NYSE:CNO) last issued its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.31 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, equities research analysts expect 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 declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.50%. The ex-dividend date was Monday, March 10th. CNO Financial Group’s payout ratio is presently 17.11%.

Insiders Place Their Bets

In other news, insider Scott L. Goldberg sold 25,500 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $40.11, for a total transaction of $1,022,805.00. Following the completion of the sale, the insider now owns 169,342 shares of the company’s stock, valued at $6,792,307.62. The trade was a 13.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Matthew J. Zimpfer sold 40,800 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $40.10, for a total transaction of $1,636,080.00. Following the completion of the transaction, the general counsel now directly owns 204,143 shares in the company, valued at $8,186,134.30. This represents a 16.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 132,600 shares of company stock worth $5,372,187. Company insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CNO. Intech Investment Management LLC increased its stake in CNO Financial Group by 52.5% during the third quarter. Intech Investment Management LLC now owns 25,621 shares of the financial services provider’s stock worth $899,000 after purchasing an additional 8,815 shares during the period. Citigroup Inc. boosted its stake in shares of CNO Financial Group by 78.0% in the 3rd quarter. Citigroup Inc. now owns 129,925 shares of the financial services provider’s stock valued at $4,560,000 after buying an additional 56,932 shares during the period. Cerity Partners LLC lifted its stake in CNO Financial Group by 53.1% in the third quarter. Cerity Partners LLC now owns 12,040 shares of the financial services provider’s stock worth $423,000 after acquiring an additional 4,178 shares during the last quarter. Algert Global LLC grew its holdings in CNO Financial Group by 55.0% during the 3rd quarter. Algert Global LLC now owns 148,401 shares of the financial services provider’s stock worth $5,209,000 after acquiring an additional 52,659 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in CNO Financial Group in the third quarter valued at $227,000. Hedge funds and other institutional investors own 95.43% of the company’s stock.

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.