CNO Financial Group (NYSE:CNO) Insider Jeremy Williams Sells 4,362 Shares of Stock

CNO Financial Group, Inc. (NYSE:CNO) insider Jeremy Williams sold 4,362 shares of the business’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $55.72, for a total transaction of $243,050.64. Following the completion of the sale, the insider directly owned 61,041 shares of the company’s stock, valued at $3,401,204.52. This represents a 6.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CNO Financial Group Stock Performance

Shares of NYSE:CNO opened at $55.49 on Thursday. The company’s 50 day moving average price is $54.36 and its two-hundred day moving average price is $48.60. CNO Financial Group, Inc. has a 12-month low of $38.22 and a 12-month high of $57.59. The firm has a market cap of $5.13 billion, a PE ratio of 19.07 and a beta of 0.80. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 1.65.

CNO Financial Group (NYSE:CNO) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.29. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $999.45 million. CNO Financial Group had a net margin of 6.02% and a return on equity of 18.76%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.87 earnings per share. Equities research analysts predict that CNO Financial Group, Inc. will post 4.74 earnings per share for the current year.

CNO Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Thursday, September 10th. CNO Financial Group’s dividend payout ratio (DPR) is 24.74%.

Analyst Ratings Changes

A number of research firms have recently weighed in on CNO. Evercore set a $48.00 target price on CNO Financial Group and gave the company an “in-line” rating in a research report on Monday, June 1st. Weiss Ratings upgraded CNO Financial Group from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday, August 11th. Jefferies Financial Group downgraded CNO Financial Group from a “buy” rating to a “hold” rating and boosted their price target for the company from $53.00 to $55.00 in a research note on Friday, July 10th. Capital One Financial set a $70.00 price objective on shares of CNO Financial Group in a research report on Wednesday, August 26th. Finally, Wall Street Zen upgraded shares of CNO Financial Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $56.00.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System bought a new position in CNO Financial Group in the first quarter valued at about $1,125,000. BlackRock Inc. bought a new position in shares of CNO Financial Group in the second quarter worth about $682,433,000. Callan Family Office LLC bought a new position in shares of CNO Financial Group in the second quarter worth about $1,089,000. Hsbc Holdings PLC boosted its stake in shares of CNO Financial Group by 102.1% in the 4th quarter. Hsbc Holdings PLC now owns 45,025 shares of the financial services provider’s stock valued at $1,914,000 after purchasing an additional 22,749 shares in the last quarter. Finally, Deutsche Bank AG acquired a new stake in shares of CNO Financial Group in the 2nd quarter valued at approximately $6,545,000. 95.43% of the stock is owned by institutional investors.

About CNO Financial Group

CNO Financial Group, Inc is an insurance holding company headquartered in Carmel, Indiana. Through its operating companies, CNO provides insurance and related financial products designed primarily for middle-income Americans, including individuals and families approaching or living in retirement.

CNO’s businesses include Bankers Life, which offers life insurance, annuities and long-term care products through agents; Colonial Penn, which markets life insurance directly to consumers; and Washington National, which provides supplemental health and life insurance products.