Key Points
- CNO Financial Group insider Jeanne Linnenbringer sold 6,560 shares for approximately $360,734 under a pre-arranged Rule 10b5-1 plan, reducing her ownership by 16.1% to 34,188 shares.
- CNO reported quarterly EPS of $1.26, beating estimates of $0.97, while revenue reached $1.29 billion and increased 11.6% year over year.
- The company declared a quarterly dividend of $0.18 per share, equivalent to $0.72 annually and a 1.3% yield; institutional investors own 95.43% of the stock, while analysts maintain a consensus “Hold” rating with a $56 price target.
CNO Financial Group, Inc. (NYSE:CNO - Get Free Report) insider Jeanne Linnenbringer sold 3,919 shares of the company's stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $55.11, for a total transaction of $215,976.09. Following the transaction, the insider directly owned 26,209 shares of the company's stock, valued at $1,444,377.99. This trade represents a 13.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
CNO Financial Group Stock Up 1.4%
Shares of CNO opened at $55.33 on Thursday. The firm has a market cap of $5.12 billion, a PE ratio of 19.01 and a beta of 0.80. The company's fifty day moving average is $53.67 and its two-hundred day moving average is $47.68. CNO Financial Group, Inc. has a fifty-two week low of $38.22 and a fifty-two week high of $57.59. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 1.65.
CNO Financial Group (NYSE:CNO - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.26 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.29. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $999.45 million. CNO Financial Group had a return on equity of 18.76% and a net margin of 6.02%.The business's revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.87 EPS. Analysts forecast that CNO Financial Group, Inc. will post 4.74 earnings per share for the current year.
CNO Financial Group Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, September 10th. CNO Financial Group's payout ratio is 24.74%.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on the company. Jefferies Financial Group lowered CNO Financial Group from a "buy" rating to a "hold" rating and lifted their price objective for the company from $53.00 to $55.00 in a research note on Friday, July 10th. Weiss Ratings raised shares of CNO Financial Group from a "buy (b)" rating to a "buy (b+)" rating in a research report on Tuesday, August 11th. Evercore set a $48.00 price objective on shares of CNO Financial Group and gave the stock an "in-line" rating in a research note on Monday, June 1st. Wall Street Zen raised shares of CNO Financial Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Finally, Capital One Financial set a $70.00 target price on shares of CNO Financial Group in a research note on Wednesday, August 26th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $56.00.
Check Out Our Latest Research Report on CNO Financial Group
Hedge Funds Weigh In On CNO Financial Group
Institutional investors and hedge funds have recently bought and sold shares of the stock. Corient Private Wealth LP grew its position in CNO Financial Group by 2.6% in the second quarter. Corient Private Wealth LP now owns 44,104 shares of the financial services provider's stock valued at $2,248,000 after acquiring an additional 1,117 shares in the last quarter. Amundi lifted its position in shares of CNO Financial Group by 8.8% during the second quarter. Amundi now owns 19,141 shares of the financial services provider's stock worth $976,000 after purchasing an additional 1,545 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of CNO Financial Group in the second quarter valued at $311,000. California State Teachers Retirement System boosted its stake in shares of CNO Financial Group by 4,851.5% in the second quarter. California State Teachers Retirement System now owns 5,354,939 shares of the financial services provider's stock valued at $272,995,000 after purchasing an additional 5,246,791 shares during the period. Finally, HB Wealth Management LLC acquired a new stake in CNO Financial Group during the 2nd quarter valued at $304,000. Hedge funds and other institutional investors own 95.43% of the company's stock.
Key CNO Financial Group News
Here are the key news stories impacting CNO Financial Group this week:
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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