CNO Financial Group (NYSE:CNO) Insider Jeremy Williams Sells 4,362 Shares of Stock

Key Points

  • Insider sale: Jeremy Williams sold 4,362 CNO Financial Group shares for approximately $243,051 under a pre-arranged Rule 10b5-1 plan, reducing his holdings by 6.67% to 61,041 shares.
  • Financial performance: CNO reported quarterly earnings of $1.26 per share, exceeding estimates of $0.97, while revenue rose 11.6% year over year to $1.29 billion.
  • Stock and outlook: Shares opened at $55.49, near the company’s 52-week high, while analysts maintained an overall “Hold” rating with an average price target of $56.00. The company also declared a quarterly dividend of $0.18 per share.

CNO Financial Group, Inc. (NYSE:CNO - Get Free Report) insider Jeremy Williams sold 4,362 shares of the business's stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $55.72, for a total transaction of $243,050.64. Following the sale, the insider directly owned 61,041 shares in the company, valued at approximately $3,401,204.52. The trade was a 6.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CNO Financial Group Stock Down 0.4%

Shares of NYSE:CNO opened at $55.49 on Thursday. CNO Financial Group, Inc. has a 52-week low of $38.22 and a 52-week high of $57.59. The company has a market capitalization of $5.13 billion, a PE ratio of 19.07 and a beta of 0.80. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.17 and a current ratio of 0.17. The company has a fifty day moving average of $54.36 and a 200-day moving average of $48.60.

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 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.29. The company had revenue of $1.29 billion for 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%.CNO Financial Group's revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the business posted $0.87 EPS. On average, equities analysts predict that CNO Financial Group, Inc. will post 4.74 EPS for the current fiscal year.

CNO Financial Group Dividend Announcement




The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be given a $0.18 dividend. The ex-dividend date is Thursday, September 10th. This represents a $0.72 annualized dividend and a yield of 1.3%. CNO Financial Group's dividend payout ratio (DPR) is currently 24.74%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in CNO Financial Group during the 2nd quarter worth about $682,433,000. Pzena Investment Management LLC grew its position in shares of CNO Financial Group by 0.3% in the 1st quarter. Pzena Investment Management LLC now owns 2,470,921 shares of the financial services provider's stock valued at $101,456,000 after buying an additional 8,053 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of CNO Financial Group by 8.3% in the first quarter. Principal Financial Group Inc. now owns 1,492,497 shares of the financial services provider's stock valued at $61,282,000 after buying an additional 114,000 shares during the period. Bank of America Corp DE increased its stake in shares of CNO Financial Group by 6.2% in the first quarter. Bank of America Corp DE now owns 988,063 shares of the financial services provider's stock valued at $40,570,000 after buying an additional 57,804 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in shares of CNO Financial Group during the second quarter worth about $44,529,000. 95.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Capital One Financial set a $70.00 price target on CNO Financial Group in a report on Wednesday, August 26th. Weiss Ratings upgraded shares of CNO Financial Group from a "buy (b)" rating to a "buy (b+)" rating in a report on Tuesday, August 11th. Evercore set a $48.00 target price on shares of CNO Financial Group and gave the stock an "in-line" rating in a research report on Monday, June 1st. Wall Street Zen upgraded shares of CNO Financial Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of CNO Financial Group from $53.00 to $57.00 and gave the stock a "market perform" rating in a report on Monday, August 3rd. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $56.00.

Read Our Latest Report on CNO Financial Group

About CNO Financial Group

(Get Free Report)

CNO Financial Group, Inc is an insurance holding company headquartered in Carmel, Indiana. Through its operating companies, CNO provides insurance and related financial products designed primarily for middle-income Americans, including individuals and families approaching or living in retirement.

CNO's businesses include Bankers Life, which offers life insurance, annuities and long-term care products through agents; Colonial Penn, which markets life insurance directly to consumers; and Washington National, which provides supplemental health and life insurance products.

See Also

Insider Buying and Selling by Quarter for CNO Financial Group (NYSE:CNO)

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