CNO Financial Group (NYSE:CNO) Reaches New 52-Week High Following Better-Than-Expected Earnings

CNO Financial Group, Inc. (NYSE:CNO) shares hit a new 52-week high on Friday following a stronger than expected earnings report. The stock traded as high as $41.23 and last traded at $40.25, with a volume of 100762 shares. The stock had previously closed at $40.02.

The financial services provider reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.25. CNO Financial Group had a net margin of 6.06% and a return on equity of 17.53%.

CNO Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 24th. Investors of record on Tuesday, December 10th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $0.64 annualized dividend and a yield of 1.60%. CNO Financial Group’s dividend payout ratio is currently 25.81%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CNO shares. Jefferies Financial Group raised their price objective on CNO Financial Group from $36.00 to $41.00 and gave the stock a “hold” rating in a report on Tuesday, December 10th. 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 target for the company. Royal Bank of Canada increased their price objective on shares of CNO Financial Group from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Finally, Piper Sandler boosted their price objective on shares of CNO Financial Group from $42.00 to $44.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $37.17.

Insider Transactions at CNO Financial Group

In other CNO Financial Group news, CMO Rocco F. Tarasi III sold 4,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $37.51, for a total transaction of $168,795.00. Following the completion of the sale, the chief marketing officer now directly owns 72,896 shares of the company’s stock, valued at approximately $2,734,328.96. The trade was a 5.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CIO Eric R. Johnson sold 3,978 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $39.09, for a total value of $155,500.02. Following the completion of the transaction, the executive now directly owns 631,844 shares in the company, valued at approximately $24,698,781.96. This represents a 0.63 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,745 shares of company stock valued at $572,467. 3.21% of the stock is owned by corporate insiders.

Institutional Trading of CNO Financial Group

Several large investors have recently modified their holdings of CNO. Creative Planning boosted its position in shares of CNO Financial Group by 7.2% during the second quarter. Creative Planning now owns 11,007 shares of the financial services provider’s stock valued at $305,000 after buying an additional 742 shares during the last quarter. SG Americas Securities LLC raised its stake in CNO Financial Group by 480.2% during the 3rd quarter. SG Americas Securities LLC now owns 37,153 shares of the financial services provider’s stock worth $1,304,000 after acquiring an additional 30,750 shares during the period. GAMMA Investing LLC lifted its stake in shares of CNO Financial Group by 141.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,985 shares of the financial services provider’s stock valued at $70,000 after buying an additional 1,164 shares in the last quarter. CWM LLC increased its holdings in CNO Financial Group by 53.0% in the 3rd quarter. CWM LLC now owns 1,750 shares of the financial services provider’s stock valued at $61,000 after acquiring an additional 606 shares during the last quarter. Finally, Trust Point Inc. bought a new position in shares of CNO Financial Group during the 3rd quarter valued at approximately $217,000. 95.43% of the stock is owned by institutional investors.

CNO Financial Group Trading Down 0.3 %

The stock has a market cap of $4.12 billion, a P/E ratio of 16.14 and a beta of 1.04. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.19 and a current ratio of 0.19. The stock’s fifty day moving average is $38.22 and its 200 day moving average is $36.00.

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.