CNO Financial Group, Inc. (NYSE:CNO) CMO Rocco F. Tarasi III Sells 4,500 Shares of Stock

CNO Financial Group, Inc. (NYSE:CNO) CMO Rocco F. Tarasi III sold 4,500 shares of CNO Financial Group 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 transaction, the chief marketing officer now directly owns 72,896 shares in the company, valued at $2,734,328.96. This trade represents a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

CNO Financial Group Trading Down 4.7 %

Shares of NYSE CNO opened at $35.76 on Thursday. The firm’s 50 day moving average price is $37.59 and its 200-day moving average price is $33.51. CNO Financial Group, Inc. has a 52-week low of $24.92 and a 52-week high of $40.91. 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 company has a market cap of $3.69 billion, a PE ratio of 14.42 and a beta of 1.02.

CNO Financial Group (NYSE:CNO) last issued its earnings results on Thursday, October 31st. The financial services provider reported $1.11 EPS for the quarter, beating the consensus estimate of $0.82 by $0.29. CNO Financial Group had a return on equity of 17.53% and a net margin of 6.06%. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $945.44 million. During the same period last year, the business posted $0.88 EPS. The company’s revenue was up 19.2% compared to the same quarter last year. On average, equities research analysts expect that CNO Financial Group, Inc. will post 3.73 EPS for the current fiscal year.

CNO Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 10th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date is Tuesday, December 10th. CNO Financial Group’s payout ratio is presently 25.81%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. boosted its holdings in CNO Financial Group by 300.9% in the third quarter. Assenagon Asset Management S.A. now owns 1,199,040 shares of the financial services provider’s stock worth $42,086,000 after purchasing an additional 899,990 shares during the last quarter. Victory Capital Management Inc. increased its position in CNO Financial Group by 455.1% during the second quarter. Victory Capital Management Inc. now owns 777,271 shares of the financial services provider’s stock valued at $21,546,000 after acquiring an additional 637,254 shares during the last quarter. American Century Companies Inc. lifted its holdings in CNO Financial Group by 19.4% in the second quarter. American Century Companies Inc. now owns 2,117,416 shares of the financial services provider’s stock valued at $58,695,000 after acquiring an additional 343,819 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of CNO Financial Group by 97.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 622,348 shares of the financial services provider’s stock valued at $17,251,000 after purchasing an additional 306,751 shares during the period. Finally, FMR LLC increased its position in shares of CNO Financial Group by 28.8% during the 3rd quarter. FMR LLC now owns 1,040,619 shares of the financial services provider’s stock valued at $36,526,000 after purchasing an additional 232,631 shares during the last quarter. 95.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CNO shares. Piper Sandler boosted their target price on CNO Financial Group from $42.00 to $44.00 and gave the company an “overweight” rating in a research note on Wednesday. Jefferies Financial Group boosted their price target on shares of CNO Financial Group from $36.00 to $41.00 and gave the company a “hold” rating in a research report on Tuesday, December 10th. Finally, Royal Bank of Canada boosted their target price on shares of CNO Financial Group from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $37.00.

CNO Financial Group Company Profile

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.