CNO Financial Group (NYSE:CNO) Sets New 12-Month High – Still a Buy?

CNO Financial Group, Inc. (NYSE:CNO) shares reached a new 52-week high on Thursday. The stock traded as high as $59.15 and last traded at $58.62, with a volume of 22,035 shares traded. The stock had previously closed at $57.73.

Analyst Upgrades and Downgrades

CNO has been the subject of several recent analyst reports. Wall Street Zen raised CNO Financial Group from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Weiss Ratings downgraded CNO Financial Group from a “buy (a)” rating to a “buy (a-)” rating in a research note on Friday, October 23rd. Keefe, Bruyette & Woods upped their price target on shares of CNO Financial Group from $53.00 to $57.00 and gave the company a “market perform” rating in a report on Monday, August 3rd. Capital One Financial set a $70.00 price target on shares of CNO Financial Group in a research report on Wednesday, August 26th. Finally, Zacks Research raised CNO Financial Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $56.00.

CNO Financial Group Price Performance

The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 1.95. The stock’s 50-day moving average price is $54.75 and its 200-day moving average price is $48.71. The company has a market capitalization of $5.32 billion, a price-to-earnings ratio of 13.09 and a beta of 0.80.

CNO Financial Group (NYSE:CNO) last issued its quarterly earnings results on Thursday, October 29th. The financial services provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.80. CNO Financial Group had a net margin of 9.19% and a return on equity of 22.64%. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the business posted $1.29 earnings per share. Equities research analysts anticipate that CNO Financial Group, Inc. will post 4.74 earnings per share for the current year.

Insider Activity at CNO Financial Group

In other CNO Financial Group news, insider Jeremy Williams sold 4,420 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $55.27, for a total transaction of $244,293.40. Following the completion of the sale, the insider directly owned 62,163 shares of the company’s stock, valued at approximately $3,435,749.01. The trade was a 6.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Karen DeToro sold 9,374 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $54.98, for a total transaction of $515,382.52. Following the transaction, the insider owned 44,250 shares in the company, valued at approximately $2,432,865. The trade was a 17.48% decrease in their ownership of the stock. 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 47,995 shares of company stock worth $2,641,336 over the last 90 days. Insiders own 3.44% of the company’s stock.

Institutional Trading of CNO Financial Group

Institutional investors and hedge funds have recently modified their holdings of the stock. IFP Advisors Inc increased its stake in CNO Financial Group by 38.4% in the second quarter. IFP Advisors Inc now owns 713 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 198 shares in the last quarter. Fortitude Family Office LLC lifted its stake in CNO Financial Group by 156.9% in the 3rd quarter. Fortitude Family Office LLC now owns 483 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 295 shares in the last quarter. Brighton Jones LLC lifted its position in shares of CNO Financial Group by 4.7% in the third quarter. Brighton Jones LLC now owns 7,514 shares of the financial services provider’s stock worth $398,000 after purchasing an additional 339 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of CNO Financial Group by 2.1% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 19,408 shares of the financial services provider’s stock worth $797,000 after buying an additional 400 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in CNO Financial Group by 72.0% in the second quarter. Versant Capital Management Inc now owns 1,132 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 474 shares in the last quarter. 95.43% of the stock is owned by institutional investors.

About CNO Financial Group

CNO Financial Group, Inc is a holding company for a group of insurance and financial services businesses focused on serving middle-income Americans, particularly individuals approaching or in retirement. Through its operating companies, CNO provides products designed to help customers protect income, manage health care expenses and prepare for retirement.

CNO’s principal brands include Bankers Life, Colonial Penn and Washington National. Its offerings include life insurance, annuities, supplemental health insurance, Medicare supplement insurance and other insurance products.