CNO Financial Group, Inc. (NYSE:CNO) Short Interest Update

CNO Financial Group, Inc. (NYSE:CNO) was the recipient of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 2,340,000 shares, an increase of 27.2% from the February 28th total of 1,840,000 shares. Based on an average trading volume of 653,400 shares, the short-interest ratio is presently 3.6 days. Approximately 2.4% of the shares of the stock are short sold.

CNO Financial Group Trading Up 1.1 %

Shares of NYSE CNO traded up $0.47 during trading hours on Tuesday, hitting $42.12. 175,456 shares of the company traded hands, compared to its average volume of 704,967. The company’s 50 day moving average price is $40.51 and its 200 day moving average price is $38.17. CNO Financial Group has a 12 month low of $24.92 and a 12 month high of $43.20. The stock has a market capitalization of $4.22 billion, a price-to-earnings ratio of 11.26 and a beta of 1.02. The company has a current ratio of 0.22, a quick ratio of 0.19 and a debt-to-equity ratio of 1.61.

CNO Financial Group (NYSE:CNO) last posted its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.25. CNO Financial Group had a net margin of 9.08% and a return on equity of 17.20%. On average, equities research analysts anticipate that CNO Financial Group will post 3.83 earnings per share for the current fiscal year.

CNO Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend was Monday, March 10th. CNO Financial Group’s dividend payout ratio (DPR) is currently 17.11%.

Insider Transactions at CNO Financial Group

In related news, General Counsel Matthew J. Zimpfer sold 40,800 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $8,186,134.30. This trade represents a 16.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Scott L. Goldberg sold 25,500 shares of CNO Financial Group stock in a transaction on 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 in the company, valued at approximately $6,792,307.62. This represents a 13.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 144,819 shares of company stock valued at $5,886,922 over the last 90 days. Company insiders own 3.00% of the company’s stock.

Institutional Trading of CNO Financial Group

Several institutional investors have recently added to or reduced their stakes in CNO. Fuller & Thaler Asset Management Inc. raised its holdings in shares of CNO Financial Group by 3.1% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 4,285,783 shares of the financial services provider’s stock worth $159,474,000 after buying an additional 130,342 shares during the period. American Century Companies Inc. grew its position in CNO Financial Group by 11.7% in the 4th quarter. American Century Companies Inc. now owns 2,687,861 shares of the financial services provider’s stock valued at $100,015,000 after acquiring an additional 282,611 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of CNO Financial Group by 6.0% during the third quarter. Principal Financial Group Inc. now owns 1,899,599 shares of the financial services provider’s stock worth $66,676,000 after purchasing an additional 107,589 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of CNO Financial Group by 41.3% during the fourth quarter. JPMorgan Chase & Co. now owns 1,274,370 shares of the financial services provider’s stock worth $47,419,000 after purchasing an additional 372,701 shares during the last quarter. Finally, FMR LLC boosted its stake in shares of CNO Financial Group by 28.8% during the third quarter. FMR LLC now owns 1,040,619 shares of the financial services provider’s stock valued at $36,526,000 after purchasing an additional 232,631 shares during the period. Institutional investors own 95.43% of the company’s stock.

Analysts Set New Price Targets

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

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.