Key Points
- CNO Financial Group CEO Gary Bhojwani sold 86,048 shares on June 30 at an average price of $51.48, totaling about $4.43 million. The trade was made under a pre-arranged Rule 10b5-1 plan, and his remaining stake was valued at roughly $8.97 million.
- The company recently raised its quarterly dividend to $0.18 per share from $0.17, which works out to an annualized dividend of $0.72 and a yield of about 1.4%. Its dividend payout ratio is currently 28.92%.
- Wall Street sentiment on CNO remains moderately positive, with three Buy ratings and two Hold ratings and a consensus price target of $48.75. Analysts at Keefe, Bruyette & Woods recently lifted their target to $50, while Evercore set a target of $48.
CNO Financial Group, Inc. (NYSE:CNO - Get Free Report) CEO Gary Bhojwani sold 86,048 shares of the company's stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $51.48, for a total transaction of $4,429,751.04. Following the completion of the transaction, the chief executive officer owned 174,264 shares in the company, valued at approximately $8,971,110.72. This trade represents a 33.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
CNO Financial Group Stock Up 0.5%
CNO Financial Group stock opened at $52.35 on Friday. The company's 50-day moving average price is $47.94 and its two-hundred day moving average price is $44.16. 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 $4.89 billion, a P/E ratio of 21.03 and a beta of 0.81. CNO Financial Group, Inc. has a twelve month low of $35.24 and a twelve month high of $53.03.
CNO Financial Group Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 10th were given a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, June 10th. This is a positive change from CNO Financial Group's previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 1.4%. CNO Financial Group's dividend payout ratio (DPR) is currently 28.92%.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on CNO. Keefe, Bruyette & Woods boosted their price target on CNO Financial Group from $46.00 to $50.00 and gave the company a "market perform" rating in a research note on Tuesday, May 5th. Evercore set a $48.00 price objective on CNO Financial Group and gave the stock an "in-line" rating in a research report on Monday, June 1st. Wall Street Zen downgraded CNO Financial Group from a "buy" rating to a "hold" rating in a report on Saturday, March 28th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of CNO Financial Group in a research 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's stock. According to MarketBeat.com, CNO Financial Group has an average rating of "Moderate Buy" and a consensus price target of $48.75.
View Our Latest Research Report on CNO
Institutional Investors Weigh In On CNO Financial Group
Hedge funds and other institutional investors have recently made changes to their positions in the business. Richardson Financial Services Inc. acquired a new stake in CNO Financial Group during the fourth quarter worth approximately $37,000. EverSource Wealth Advisors LLC raised its holdings in CNO Financial Group by 123.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,176 shares of the financial services provider's stock valued at $45,000 after acquiring an additional 649 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of CNO Financial Group by 75.4% during the 1st quarter. Bessemer Group Inc. now owns 1,133 shares of the financial services provider's stock valued at $46,000 after acquiring an additional 487 shares during the period. Osaic Holdings Inc. lifted its position in shares of CNO Financial Group by 39.2% during the 2nd quarter. Osaic Holdings Inc. now owns 1,194 shares of the financial services provider's stock valued at $46,000 after acquiring an additional 336 shares during the period. Finally, Versant Capital Management Inc grew its holdings in shares of CNO Financial Group by 72.0% during the 2nd quarter. Versant Capital Management Inc now owns 1,132 shares of the financial services provider's stock worth $58,000 after purchasing an additional 474 shares in the last quarter. 95.43% of the stock is currently owned by institutional investors and hedge funds.
CNO Financial Group Company Profile
(
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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