CNO Financial Group (NYSE:CNO) General Counsel Sells $1,017,516.90 in Stock

CNO Financial Group, Inc. (NYSE:CNO) General Counsel Matthew Zimpfer sold 23,570 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $43.17, for a total transaction of $1,017,516.90. Following the transaction, the general counsel owned 307,937 shares in the company, valued at $13,293,640.29. This represents a 7.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

CNO Financial Group Stock Performance

Shares of CNO stock traded down $0.13 during trading hours on Wednesday, reaching $42.99. The company had a trading volume of 850,597 shares, compared to its average volume of 687,941. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.18 and a current ratio of 0.17. The business has a fifty day moving average price of $42.55 and a 200-day moving average price of $40.59. CNO Financial Group, Inc. has a one year low of $34.63 and a one year high of $44.85. The firm has a market cap of $4.10 billion, a PE ratio of 19.28 and a beta of 0.84.

CNO Financial Group (NYSE:CNO) last issued its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.27. CNO Financial Group had a net margin of 4.94% and a return on equity of 15.80%. The company had revenue of $101.10 million for the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the prior year, the firm earned $1.18 earnings per share. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. Sell-side analysts predict that CNO Financial Group, Inc. will post 3.83 earnings per share for the current fiscal year.

CNO Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Tuesday, March 10th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $0.68 annualized dividend and a dividend yield of 1.6%. CNO Financial Group’s payout ratio is presently 30.49%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CNO. Weiss Ratings reissued a “buy (b)” rating on shares of CNO Financial Group in a report on Wednesday, January 21st. Evercore reaffirmed an “underperform” rating and set a $43.00 price target on shares of CNO Financial Group in a research report on Wednesday. Piper Sandler raised their price objective on shares of CNO Financial Group from $46.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, December 23rd. Jefferies Financial Group upgraded shares of CNO Financial Group from a “hold” rating to a “buy” rating and boosted their target price for the company from $42.00 to $47.00 in a research report on Monday, December 15th. Finally, Wall Street Zen downgraded shares of CNO Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $46.25.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Healthcare of Ontario Pension Plan Trust Fund bought a new position in CNO Financial Group in the 4th quarter worth approximately $18,297,000. Jain Global LLC bought a new stake in shares of CNO Financial Group during the fourth quarter valued at approximately $17,996,000. Millennium Management LLC lifted its holdings in shares of CNO Financial Group by 190.3% in the third quarter. Millennium Management LLC now owns 579,656 shares of the financial services provider’s stock worth $22,925,000 after buying an additional 379,984 shares in the last quarter. Capitolis Liquid Global Markets LLC boosted its position in shares of CNO Financial Group by 384.9% during the third quarter. Capitolis Liquid Global Markets LLC now owns 438,800 shares of the financial services provider’s stock worth $17,355,000 after acquiring an additional 348,300 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of CNO Financial Group by 35.6% during the fourth quarter. AQR Capital Management LLC now owns 1,218,033 shares of the financial services provider’s stock worth $51,730,000 after acquiring an additional 319,795 shares during the last quarter. 95.43% of the stock is owned by hedge funds and other institutional investors.

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.