Michael E. Mead Sells 12,389 Shares of CNO Financial Group, Inc. (NYSE:CNO) Stock

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

CNO Financial Group Stock Up 0.3%

Shares of CNO traded up $0.11 during mid-day trading on Tuesday, hitting $37.60. 65,109 shares of the company's stock were exchanged, compared to its average volume of 704,876. The company has a market cap of $3.73 billion, a PE ratio of 13.14 and a beta of 0.87. CNO Financial Group, Inc. has a 52 week low of $27.72 and a 52 week high of $43.20. The company has a 50-day simple moving average of $37.89 and a 200 day simple moving average of $38.82. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.18 and a quick ratio of 0.18.

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 for the quarter, hitting the consensus estimate of $0.79. CNO Financial Group had a net margin of 7.11% and a return on equity of 17.86%. The company had revenue of $1 billion during the quarter, compared to analysts' expectations of $975.80 million. During the same period last year, the business earned $0.52 EPS. The business's quarterly revenue was down 13.2% on a year-over-year basis. On average, research analysts forecast that CNO Financial Group, Inc. will post 3.83 earnings per share for the current fiscal year.

CNO Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 24th. Investors of record on Tuesday, June 10th were paid a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, June 10th. This is a boost from CNO Financial Group's previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 1.81%. CNO Financial Group's dividend payout ratio (DPR) is currently 23.78%.

Hedge Funds Weigh In On CNO Financial Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Mariner LLC grew its stake in shares of CNO Financial Group by 6.7% in the fourth quarter. Mariner LLC now owns 6,116 shares of the financial services provider's stock valued at $228,000 after buying an additional 385 shares in the last quarter. HighTower Advisors LLC grew its stake in shares of CNO Financial Group by 5.3% in the fourth quarter. HighTower Advisors LLC now owns 7,873 shares of the financial services provider's stock valued at $293,000 after buying an additional 394 shares in the last quarter. Corient Private Wealth LLC grew its stake in shares of CNO Financial Group by 2.6% in the fourth quarter. Corient Private Wealth LLC now owns 15,634 shares of the financial services provider's stock valued at $582,000 after buying an additional 400 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of CNO Financial Group by 95.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 855 shares of the financial services provider's stock valued at $32,000 after buying an additional 417 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of CNO Financial Group by 10.4% in the first quarter. Blue Trust Inc. now owns 4,804 shares of the financial services provider's stock valued at $200,000 after buying an additional 451 shares in the last quarter. 95.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler raised their price target on shares of 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 analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, CNO Financial Group presently has a consensus rating of "Hold" and a consensus target price of $41.00.

CNO Financial Group Company Profile

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.