Insider Selling: CNO Financial Group Inc (CNO) CFO Sells 11,845 Shares of Stock
CNO Financial Group Inc (NYSE:CNO) CFO Erik M. Helding sold 11,845 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $16.08, for a total value of $190,467.60. Following the sale, the chief financial officer now directly owns 78,445 shares in the company, valued at approximately $1,261,395.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Shares of CNO traded down $0.06 during midday trading on Thursday, hitting $16.23. The stock had a trading volume of 1,014,903 shares, compared to its average volume of 1,123,057. CNO Financial Group Inc has a twelve month low of $13.64 and a twelve month high of $22.93. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of 8.87 and a beta of 1.31. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.26 and a quick ratio of 0.26.
CNO Financial Group (NYSE:CNO) last released its quarterly earnings results on Tuesday, February 12th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.14). CNO Financial Group had a negative net margin of 7.30% and a positive return on equity of 7.57%. The firm had revenue of $778.20 million during the quarter, compared to analyst estimates of $981.90 million. During the same period in the prior year, the business earned $0.51 EPS. The business’s revenue for the quarter was down 28.6% compared to the same quarter last year. Sell-side analysts anticipate that CNO Financial Group Inc will post 2.12 earnings per share for the current fiscal year.
Several analysts recently commented on CNO shares. ValuEngine downgraded CNO Financial Group from a “sell” rating to a “strong sell” rating in a research note on Monday, February 25th. Evercore ISI raised CNO Financial Group from an “in-line” rating to an “outperform” rating in a research note on Wednesday, January 9th. They noted that the move was a valuation call. Zacks Investment Research downgraded CNO Financial Group from a “hold” rating to a “sell” rating in a research note on Tuesday, January 15th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $22.00 price objective on shares of CNO Financial Group in a research note on Monday, December 17th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $21.50.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake in shares of CNO Financial Group by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 1,753,540 shares of the financial services provider’s stock valued at $26,092,000 after purchasing an additional 21,724 shares during the period. Norges Bank acquired a new stake in shares of CNO Financial Group in the 4th quarter valued at about $39,053,000. Coldstream Capital Management Inc. acquired a new stake in shares of CNO Financial Group in the 4th quarter valued at about $151,000. FMR LLC raised its stake in shares of CNO Financial Group by 9.3% in the 4th quarter. FMR LLC now owns 465,054 shares of the financial services provider’s stock valued at $6,920,000 after purchasing an additional 39,520 shares during the period. Finally, Nordea Investment Management AB raised its stake in shares of CNO Financial Group by 0.9% in the 4th quarter. Nordea Investment Management AB now owns 224,600 shares of the financial services provider’s stock valued at $3,342,000 after purchasing an additional 1,900 shares during the period. 97.30% of the stock is currently owned by hedge funds and other institutional investors.
About CNO Financial Group
CNO Financial Group, Inc, through its subsidiaries, develops, markets, and administers health insurance, annuity, individual life insurance, and other insurance products for senior and middle-income markets in the United States. It operates through Bankers Life, Washington National, Colonial Penn, and Long-Term Care in Run Off segments.
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