Insider Selling: CNO Financial Group, Inc. (NYSE:CNO) Insider Sells 12,389 Shares of Stock

CNO Financial Group, Inc. (NYSE:CNO - Get Free Report) insider Michael E. Mead sold 12,389 shares of CNO Financial Group stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $38.20, for a total value of $473,259.80. Following the completion of the transaction, the insider directly owned 28,310 shares in the company, valued at approximately $1,081,442. This represents a 30.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

CNO Financial Group Trading Up 0.5%

CNO traded up $0.17 during trading on Thursday, hitting $36.92. The company's stock had a trading volume of 827,844 shares, compared to its average volume of 708,224. CNO Financial Group, Inc. has a twelve month low of $28.01 and a twelve month high of $43.20. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.59. The stock's fifty day moving average price is $37.86 and its 200-day moving average price is $38.80. The firm has a market capitalization of $3.66 billion, a P/E ratio of 12.91 and a beta of 0.87.

CNO Financial Group (NYSE:CNO - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.79. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $975.80 million. CNO Financial Group had a return on equity of 17.86% and a net margin of 7.11%. The company's revenue was down 13.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.52 earnings per share. Analysts anticipate that CNO Financial Group, Inc. will post 3.83 EPS for the current year.

CNO Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 24th. Investors of record on Tuesday, June 10th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $0.68 annualized dividend and a yield of 1.84%. This is an increase from CNO Financial Group's previous quarterly dividend of $0.16. CNO Financial Group's dividend payout ratio is 23.78%.

Wall Street Analyst Weigh In

Separately, Piper Sandler lifted their price objective on CNO Financial Group from $46.00 to $49.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $41.00.

Institutional Investors Weigh In On CNO Financial Group

Institutional investors have recently bought and sold shares of the stock. Neo Ivy Capital Management bought a new position in shares of CNO Financial Group during the 1st quarter worth $28,000. Jones Financial Companies Lllp grew its stake in shares of CNO Financial Group by 368.2% during the 4th quarter. Jones Financial Companies Lllp now owns 796 shares of the financial services provider's stock worth $30,000 after acquiring an additional 626 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of CNO Financial Group by 95.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 855 shares of the financial services provider's stock worth $32,000 after acquiring an additional 417 shares during the period. UMB Bank n.a. grew its stake in shares of CNO Financial Group by 89.7% during the 1st quarter. UMB Bank n.a. now owns 1,009 shares of the financial services provider's stock worth $42,000 after acquiring an additional 477 shares during the period. Finally, Versant Capital Management Inc grew its stake in shares of CNO Financial Group by 148.6% during the 1st quarter. Versant Capital Management Inc now owns 1,099 shares of the financial services provider's stock worth $46,000 after acquiring an additional 657 shares during the period. Institutional investors own 95.43% of the company's stock.

About CNO Financial Group

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.