Key Points
- Insider sale: Director Scott Goldberg sold 11,060 shares on March 19 at an average price of $39.97 for proceeds of $442,068, reducing his stake by about 4.9% to 214,524 shares.
- Recent results: CNO reported $1.47 EPS (beating estimates by $0.27) with revenue up 4.2% year-over-year, and the stock was trading near $40.53 with a market cap of $3.82 billion and a P/E of 18.18.
- Dividends and sentiment: Management declared a $0.17 quarterly dividend (annualized $0.68, ~1.7% yield; ex-dividend March 10, payable March 24), while analysts are mixed—consensus rating "Hold" with a $46.25 price target—and institutional investors hold about 95.4% of the shares.
CNO Financial Group, Inc. (NYSE:CNO - Get Free Report) insider Scott Goldberg sold 11,060 shares of the company's stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $39.97, for a total transaction of $442,068.20. Following the completion of the transaction, the insider owned 214,524 shares in the company, valued at approximately $8,574,524.28. This represents a 4.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
CNO Financial Group Stock Up 2.0%
CNO stock opened at $40.53 on Tuesday. The company has a 50 day moving average of $41.78 and a two-hundred day moving average of $41.09. The company has a market cap of $3.82 billion, a price-to-earnings ratio of 18.18 and a beta of 0.83. CNO Financial Group, Inc. has a 12-month low of $34.63 and a 12-month high of $44.85. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 1.43.
CNO Financial Group (NYSE:CNO - Get Free Report) last posted its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.47 EPS for the quarter, beating the consensus estimate 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 business had revenue of $101.10 million for the quarter, compared to analysts' expectations of $1 billion. During the same period in the previous year, the company posted $1.18 EPS. CNO Financial Group's revenue was up 4.2% on a year-over-year basis. On average, equities analysts anticipate 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 announced a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th will be paid a $0.17 dividend. The ex-dividend date is Tuesday, March 10th. This represents a $0.68 dividend on an annualized basis and a yield of 1.7%. CNO Financial Group's payout ratio is 30.49%.
Institutional Trading of CNO Financial Group
A number of institutional investors and hedge funds have recently made changes to their positions in CNO. Hsbc Holdings PLC boosted its stake in shares of CNO Financial Group by 102.1% during the 4th quarter. Hsbc Holdings PLC now owns 45,025 shares of the financial services provider's stock worth $1,914,000 after acquiring an additional 22,749 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of CNO Financial Group by 60.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 3,248 shares of the financial services provider's stock valued at $138,000 after acquiring an additional 1,224 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in CNO Financial Group by 2.6% in the 4th quarter. Corient Private Wealth LLC now owns 19,683 shares of the financial services provider's stock worth $836,000 after purchasing an additional 498 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its position in CNO Financial Group by 684.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,881 shares of the financial services provider's stock worth $165,000 after purchasing an additional 3,386 shares during the period. Finally, DGS Capital Management LLC boosted its position in CNO Financial Group by 16.8% during the fourth quarter. DGS Capital Management LLC now owns 17,017 shares of the financial services provider's stock worth $723,000 after purchasing an additional 2,450 shares during the period. Institutional investors and hedge funds own 95.43% of the company's stock.
Analysts Set New Price Targets
A number of research firms have recently weighed in on CNO. Weiss Ratings reaffirmed a "buy (b)" rating on shares of CNO Financial Group in a research note on Wednesday, January 21st. Evercore reissued an "underperform" rating and issued a $43.00 price target on shares of CNO Financial Group in a research note on Wednesday, February 18th. Wall Street Zen upgraded CNO Financial Group from a "hold" rating to a "buy" rating in a report on Saturday, February 28th. Jefferies Financial Group upgraded shares of CNO Financial Group from a "hold" rating to a "buy" rating and lifted their target price for the company from $42.00 to $47.00 in a research note on Monday, December 15th. Finally, Piper Sandler boosted their target price on shares of CNO Financial Group from $46.00 to $50.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 23rd. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, CNO Financial Group has an average rating of "Hold" and a consensus price target of $46.25.
Read Our Latest Report on CNO
About CNO Financial Group
(
Get Free Report)
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.
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