CNO Financial Group, Inc. (NYSE:CNO) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Analysts maintain a “Hold” consensus on CNO Financial Group, with three hold ratings and two buy ratings. The average 12-month price target is $51.50.
• CNO shares recently rose 1.4% to $53.71, near their 12-month high of $54.09. The company also increased its quarterly dividend to $0.18 per share, implying a 1.3% yield.
• Insiders sold 95,106 shares worth approximately $4.9 million over the past 90 days, while institutional investors own a substantial 95.43% of the stock.

CNO Financial Group, Inc. (NYSE:CNO - Get Free Report) has been given a consensus rating of "Hold" by the five brokerages that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $51.50.

A number of research firms have recently weighed in on CNO. Jefferies Financial Group lowered CNO Financial Group from a "buy" rating to a "hold" rating and raised their target price for the company from $53.00 to $55.00 in a report on Friday, July 10th. Weiss Ratings reissued a "buy (b)" rating on shares of CNO Financial Group in a research report on Friday, July 17th. Evercore set a $48.00 price objective on CNO Financial Group and gave the company an "in-line" rating in a research note on Monday, June 1st. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of CNO Financial Group from $50.00 to $53.00 and gave the stock a "market perform" rating in a report on Monday, July 13th.

Insider Transactions at CNO Financial Group

In other CNO Financial Group news, CMO Rocco F. Tarasi III sold 5,750 shares of CNO Financial Group stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $50.00, for a total transaction of $287,500.00. Following the transaction, the chief marketing officer owned 79,191 shares of the company's stock, valued at $3,959,550. This trade represents a 6.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gary C. Bhojwani sold 86,048 shares of the business's stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $51.48, for a total value of $4,429,751.04. Following the completion of the transaction, the chief executive officer owned 174,264 shares in the company, valued at $8,971,110.72. The trade was a 33.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 95,106 shares of company stock valued at $4,879,343 over the last ninety days. 3.44% of the stock is currently owned by insiders.

Institutional Trading of CNO Financial Group

A number of hedge funds have recently bought and sold shares of CNO. Richardson Financial Services Inc. purchased a new position in CNO Financial Group in the fourth quarter worth $37,000. Versant Capital Management Inc raised its stake 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 during the period. Bessemer Group Inc. raised its stake 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 worth $46,000 after purchasing an additional 487 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of 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 worth $45,000 after buying an additional 649 shares during the last quarter. Finally, Osaic Holdings Inc. grew its position in CNO Financial Group by 39.2% during the second quarter. Osaic Holdings Inc. now owns 1,194 shares of the financial services provider's stock valued at $46,000 after buying an additional 336 shares during the period. 95.43% of the stock is currently owned by institutional investors.

CNO Financial Group Stock Up 1.4%

Shares of NYSE:CNO traded up $0.76 during midday trading on Thursday, hitting $53.71. 27,592 shares of the company's stock were exchanged, compared to its average volume of 708,638. CNO Financial Group has a 12 month low of $35.24 and a 12 month high of $54.09. The company has a market cap of $5.01 billion, a PE ratio of 21.59 and a beta of 0.81. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.17 and a quick ratio of 0.17. The stock has a 50 day moving average price of $50.70 and a 200-day moving average price of $45.46.

CNO Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 24th. Investors of record on Wednesday, June 10th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.3%. This is a boost from CNO Financial Group's previous quarterly dividend of $0.17. The ex-dividend date was Wednesday, June 10th. CNO Financial Group's dividend payout ratio is presently 28.92%.

CNO Financial Group Company Profile

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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