CNO Financial Group (NYSE:CNO) Sets New 52-Week High – Here’s Why

CNO Financial Group, Inc. (NYSE:CNO)’s stock price hit a new 52-week high on Thursday . The company traded as high as $53.67 and last traded at $53.6280, with a volume of 28014 shares. The stock had previously closed at $52.75.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CNO. Jefferies Financial Group downgraded CNO Financial Group from a “buy” rating to a “hold” rating and increased their price target for the stock from $53.00 to $55.00 in a research note on Friday, July 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of CNO Financial Group in a report on Monday, April 20th. Keefe, Bruyette & Woods raised their target price on shares of CNO Financial Group from $50.00 to $53.00 and gave the company a “market perform” rating in a research note on Monday. Wall Street Zen downgraded shares of CNO Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Finally, Evercore set a $48.00 target price on CNO Financial Group and gave the company an “in-line” rating in a research note on Monday, June 1st. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $51.50.

CNO Financial Group Stock Performance

The company has a debt-to-equity ratio of 1.61, a current ratio of 0.17 and a quick ratio of 0.17. The stock has a market cap of $5.00 billion, a PE ratio of 21.53 and a beta of 0.81. The business has a 50 day moving average price of $49.39 and a two-hundred day moving average price of $44.75.

CNO Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 10th were given a $0.18 dividend. The ex-dividend date was Wednesday, June 10th. This is a positive change from CNO Financial Group’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.3%. CNO Financial Group’s dividend payout ratio is presently 28.92%.

Insider Buying and Selling

In other CNO Financial Group news, CMO Rocco F. Tarasi III sold 5,750 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $50.00, for a total transaction of $287,500.00. Following the completion of the transaction, the chief marketing officer owned 79,191 shares of the company’s stock, valued at $3,959,550. This represents a 6.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gary C. Bhojwani sold 86,048 shares of the firm’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $51.48, for a total value of $4,429,751.04. Following the completion of the sale, the chief executive officer directly owned 174,264 shares of the company’s stock, valued at $8,971,110.72. The trade was a 33.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 95,106 shares of company stock valued at $4,879,343 in the last ninety days. 3.44% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CNO Financial Group

Several hedge funds have recently bought and sold shares of CNO. Royal Bank of Canada raised its stake in CNO Financial Group by 29.5% during the first quarter. Royal Bank of Canada now owns 176,059 shares of the financial services provider’s stock valued at $7,332,000 after buying an additional 40,054 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in CNO Financial Group by 1.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,757 shares of the financial services provider’s stock valued at $2,531,000 after acquiring an additional 797 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in CNO Financial Group by 5.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 376,747 shares of the financial services provider’s stock worth $15,692,000 after purchasing an additional 20,728 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of CNO Financial Group by 146.4% in the 1st quarter. Jane Street Group LLC now owns 149,159 shares of the financial services provider’s stock worth $6,212,000 after buying an additional 88,619 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in shares of CNO Financial Group by 637.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,438 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 1,243 shares during the period. Institutional investors own 95.43% of the company’s stock.

About CNO Financial Group

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.