CNO Financial Group (NYSE:CNO) CMO Rocco Tarasi III Sells 5,750 Shares

CNO Financial Group, Inc. (NYSE:CNO) CMO Rocco Tarasi III sold 5,750 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $50.00, for a total transaction of $287,500.00. Following the completion of the transaction, the chief marketing officer owned 79,191 shares in the company, valued at $3,959,550. The trade was a 6.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CNO Financial Group Trading Up 0.7%

NYSE:CNO traded up $0.36 on Thursday, hitting $49.99. The stock had a trading volume of 531,198 shares, compared to its average volume of 681,845. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 1.61. The stock has a market cap of $4.67 billion, a price-to-earnings ratio of 20.08 and a beta of 0.81. The company has a fifty day moving average price of $45.04 and a two-hundred day moving average price of $42.95. CNO Financial Group, Inc. has a 1-year low of $35.24 and a 1-year high of $50.20.

CNO Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 10th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.4%. The ex-dividend date is Wednesday, June 10th. This is a positive change from CNO Financial Group’s previous quarterly dividend of $0.17. CNO Financial Group’s dividend payout ratio (DPR) is presently 28.92%.

Institutional Investors Weigh In On CNO Financial Group

Several large investors have recently added to or reduced their stakes in CNO. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in CNO Financial Group during the 4th quarter worth approximately $18,297,000. Jain Global LLC purchased a new stake in CNO Financial Group during the 4th quarter worth approximately $17,996,000. Millennium Management LLC increased its stake in CNO Financial Group by 190.3% during the 3rd 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 during the period. Capitolis Liquid Global Markets LLC increased its stake in CNO Financial Group by 384.9% during the 3rd quarter. Capitolis Liquid Global Markets LLC now owns 438,800 shares of the financial services provider’s stock worth $17,355,000 after buying an additional 348,300 shares during the period. Finally, AQR Capital Management LLC increased its stake in CNO Financial Group by 35.6% during the 4th quarter. AQR Capital Management LLC now owns 1,218,033 shares of the financial services provider’s stock worth $51,730,000 after buying an additional 319,795 shares during the period. 95.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Evercore set a $48.00 target price on shares of CNO Financial Group and gave the company an “in-line” rating in a report on Monday, June 1st. Keefe, Bruyette & Woods upped their price objective on shares of CNO Financial Group from $46.00 to $50.00 and gave the stock a “market perform” rating in a report on Tuesday, May 5th. Wall Street Zen lowered shares of CNO Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of CNO Financial Group in a report on Monday, April 20th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, CNO Financial Group currently has an average rating of “Moderate Buy” and an average target price of $48.75.

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.