CNO Financial Group (NYSE:CNO) Reaches New 52-Week High - Here's Why

Key Points

• CNO Financial Group hit a new 52-week high, with shares trading as high as $47.95 after rising about 1.8% on the day.
• Recent analyst opinions were mixed, but the overall picture was neutral: the stock carries a consensus Hold rating and a $47.50 price target, while Keefe, Bruyette & Woods recently raised its target to $50.
• The company increased its quarterly dividend to $0.18 per share from $0.17, lifting the annualized payout to $0.72 and implying a 1.5% yield.

CNO Financial Group, Inc. (NYSE:CNO - Get Free Report)'s share price reached a new 52-week high on Monday . The stock traded as high as $47.95 and last traded at $47.8750, with a volume of 33594 shares traded. The stock had previously closed at $46.82.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CNO. Weiss Ratings reissued a "buy (b)" rating on shares of CNO Financial Group in a research report on Monday, April 20th. Evercore reiterated an "underperform" rating and set a $43.00 target price on shares of CNO Financial Group in a research note on Wednesday, February 18th. Keefe, Bruyette & Woods increased their target price on CNO Financial Group from $46.00 to $50.00 and gave the company a "market perform" rating in a research note on Tuesday, May 5th. Finally, Wall Street Zen downgraded CNO Financial Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 28th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $47.50.

CNO Financial Group Trading Up 1.8%

The firm has a 50 day simple moving average of $42.60 and a 200 day simple moving average of $42.09. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 1.61. The firm has a market capitalization of $4.45 billion, a PE ratio of 19.14 and a beta of 0.82.

CNO Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 10th will be paid a $0.18 dividend. This is an increase from CNO Financial Group's previous quarterly dividend of $0.17. The ex-dividend date is Wednesday, June 10th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.5%. CNO Financial Group's dividend payout ratio (DPR) is 28.92%.

Insider Transactions at CNO Financial Group

In other news, CEO Gary C. Bhojwani sold 45,357 shares of the firm's stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $43.17, for a total value of $1,958,061.69. Following the transaction, the chief executive officer directly owned 320,547 shares in the company, valued at $13,838,013.99. This trade represents a 12.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Matthew J. Zimpfer sold 33,800 shares of the firm's stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $43.05, for a total value of $1,455,090.00. Following the completion of the transaction, the general counsel owned 307,937 shares in the company, valued at approximately $13,256,687.85. This trade represents a 9.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 165,808 shares of company stock valued at $7,113,321. Corporate insiders own 3.44% of the company's stock.

Hedge Funds Weigh In On CNO Financial Group

Institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada lifted its position in CNO Financial Group by 29.5% during the first quarter. Royal Bank of Canada now owns 176,059 shares of the financial services provider's stock valued at $7,332,000 after purchasing an additional 40,054 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in CNO Financial Group by 1.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,757 shares of the financial services provider's stock valued at $2,531,000 after purchasing an additional 797 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in CNO Financial Group by 5.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 376,747 shares of the financial services provider's stock valued at $15,692,000 after purchasing an additional 20,728 shares in the last quarter. Jane Street Group LLC lifted its position in CNO Financial Group by 146.4% during the first quarter. Jane Street Group LLC now owns 149,159 shares of the financial services provider's stock valued at $6,212,000 after purchasing an additional 88,619 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in CNO Financial Group by 637.4% during the first quarter. Geneos Wealth Management Inc. now owns 1,438 shares of the financial services provider's stock valued at $60,000 after purchasing an additional 1,243 shares in the last quarter. 95.43% of the stock is currently owned by hedge funds and other institutional investors.

About CNO Financial Group

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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