CNO Financial Group (NYSE:CNO) Shares Pass Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• CNO passed above its 200-day moving average ($41.33) and traded as high as $43.46, with the last trade at $43.24—an important technical development for the stock.
• Analysts are mixed: Piper Sandler raised its target to $50 and rated the stock "overweight," but the consensus is a Hold with an average price target of $46.50 (3 Buys, 1 Hold, 1 Sell).
• Insiders have sold heavily recently (CEO sold 43,021 shares; ~196,778 shares sold worth $8.44M over 90 days), even as the company beat quarterly EPS expectations ($1.47 vs. $1.20) and pays a $0.17 quarterly dividend (1.6% yield).

CNO Financial Group, Inc. (NYSE:CNO - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $41.33 and traded as high as $43.46. CNO Financial Group shares last traded at $43.2370, with a volume of 765,880 shares.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Piper Sandler upped their target price on CNO Financial Group from $46.00 to $50.00 and gave the company an "overweight" rating in a research note on Tuesday, December 23rd. Wall Street Zen lowered CNO Financial Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 28th. Keefe, Bruyette & Woods reiterated a "hold" rating and issued a $46.00 target price on shares of CNO Financial Group in a research note on Thursday, March 26th. Evercore reiterated an "underperform" rating and issued a $43.00 target price on shares of CNO Financial Group in a research note on Wednesday, February 18th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of CNO Financial Group in a research note on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, CNO Financial Group presently has an average rating of "Hold" and a consensus price target of $46.50.

CNO Financial Group Price Performance

The stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of 19.39 and a beta of 0.83. The company has a 50 day moving average of $41.72 and a 200 day moving average of $41.33. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 1.43.

CNO Financial Group (NYSE:CNO - Get Free Report) last released its earnings results on Thursday, February 5th. The financial services provider reported $1.47 EPS for the quarter, beating the consensus estimate of $1.20 by $0.27. The firm had revenue of $101.10 million during the quarter, compared to analyst estimates of $1 billion. CNO Financial Group had a return on equity of 15.80% and a net margin of 4.94%.The business's quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.18 earnings per share. As a group, equities research analysts forecast that CNO Financial Group, Inc. will post 3.83 EPS for the current fiscal year.

CNO Financial Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th were paid a dividend of $0.17 per share. The ex-dividend date was Tuesday, March 10th. This represents a $0.68 annualized dividend and a yield of 1.6%. CNO Financial Group's dividend payout ratio is currently 30.49%.

Insider Transactions at CNO Financial Group

In other CNO Financial Group news, CEO Gary C. Bhojwani sold 43,021 shares of the company's stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $43.05, for a total transaction of $1,852,054.05. Following the completion of the sale, the chief executive officer directly owned 277,526 shares in the company, valued at $11,947,494.30. This represents a 13.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Matthew J. Zimpfer sold 33,800 shares of the company's stock in a transaction dated 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 sale, the general counsel owned 307,937 shares of the company's stock, valued at $13,256,687.85. This represents a 9.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 196,778 shares of company stock valued at $8,442,863. Insiders own 3.44% of the company's stock.

Institutional Investors Weigh In On CNO Financial Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Optiver Holding B.V. increased its stake in 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 worth $25,000 after acquiring an additional 302 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in 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 worth $29,000 after acquiring an additional 579 shares during the last quarter. First Horizon Corp purchased a new position in CNO Financial Group in the third quarter valued at about $32,000. Richardson Financial Services Inc. purchased a new position in CNO Financial Group in the fourth quarter valued at about $37,000. Finally, EverSource Wealth Advisors LLC lifted 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 worth $45,000 after purchasing an additional 649 shares in the last quarter. 95.43% of the stock is currently owned by institutional investors and hedge funds.

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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