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

Key Points

• New 52-week high: CNO Financial reached a 52-week high of $44.94 and last traded around $44.54, giving it a market cap of about $4.17 billion.
• Quarterly beat and mixed analyst view: The company reported $1.47 EPS versus $1.20 expected and revenue grew 4.2% year-over-year, while analysts hold a consensus rating of "Hold" with a $46.50 price target (three Buys, one Hold, one Sell).
• Insider selling and dividend: Insiders sold 196,778 shares worth $8.44 million over the last quarter (insiders own 3.44%), and the firm pays a quarterly dividend of $0.17 (annualized $0.68) for a ~1.5% yield.

CNO Financial Group, Inc. (NYSE:CNO - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $44.94 and last traded at $44.54, with a volume of 31757 shares changing hands. The stock had previously closed at $44.31.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of CNO Financial Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 28th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of CNO Financial Group in a research note on Monday, April 20th. Keefe, Bruyette & Woods reaffirmed a "hold" rating and issued a $46.00 target price on shares of CNO Financial Group in a research note on Thursday, March 26th. Finally, Evercore reaffirmed an "underperform" rating and issued a $43.00 target price on shares of CNO Financial Group in a research note on Wednesday, February 18th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $46.50.

CNO Financial Group Stock Performance

The stock's 50 day moving average is $41.81 and its 200 day moving average is $41.57. The firm has a market cap of $4.17 billion, a price-to-earnings ratio of 19.96 and a beta of 0.83. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 1.43.

CNO Financial Group (NYSE:CNO - Get Free Report) last announced its earnings results on Thursday, February 5th. The financial services provider reported $1.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.27. CNO Financial Group had a net margin of 4.94% and a return on equity of 15.80%. The firm had revenue of $101.10 million for the quarter, compared to analyst estimates of $1 billion. During the same quarter in the prior year, the business posted $1.18 EPS. The business's revenue was up 4.2% compared to the same quarter last year. Analysts anticipate that CNO Financial Group, Inc. will post 4.36 earnings per share for the current year.

CNO Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Tuesday, March 10th. CNO Financial Group's dividend payout ratio is presently 30.49%.

Insider Activity

In related news, insider Yvonne K. Franzese sold 9,000 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $43.17, for a total value of $388,530.00. Following the completion of the transaction, the insider owned 35,062 shares of the company's stock, valued at $1,513,626.54. This represents a 20.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Matthew J. Zimpfer sold 33,800 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $43.05, for a total transaction of $1,455,090.00. Following the completion of the transaction, the general counsel directly owned 307,937 shares of the company's stock, valued at approximately $13,256,687.85. The trade was a 9.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 196,778 shares of company stock worth $8,442,863. Insiders own 3.44% of the company's stock.

Hedge Funds Weigh In On CNO Financial Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in CNO. Optiver Holding B.V. raised its stake in shares of CNO Financial Group by 90.1% during the third quarter. Optiver Holding B.V. now owns 637 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 302 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of CNO Financial Group by 353.0% during the third quarter. Smartleaf Asset Management LLC now owns 743 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 579 shares during the last quarter. First Horizon Corp bought a new position in shares of CNO Financial Group during the third quarter valued at $32,000. Richardson Financial Services Inc. bought a new position in shares of CNO Financial Group during the fourth quarter valued at $37,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of CNO Financial Group by 123.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,176 shares of the financial services provider's stock valued at $45,000 after acquiring an additional 649 shares during the last quarter. Institutional investors own 95.43% of the company's stock.

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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