Insider Selling: CNO Financial Group (NYSE:CNO) Insider Sells 4,060 Shares

Key Points

• CNO Financial Group insider Jeanne Linnenbringer sold 4,060 shares for approximately $222,204 under a pre-arranged Rule 10b5-1 plan, reducing her holdings by 11.88% to 30,128 shares.
• CNO shares traded at $55.33, near their 52-week high, after the company reported quarterly EPS of $1.26—well above the $0.97 analyst consensus—and revenue growth of 11.6% year over year.
• The company declared a quarterly dividend of $0.18, equivalent to $0.72 annually and a 1.3% yield. Analysts’ consensus rating remains “Hold,” with an average price target of $56.00.

CNO Financial Group, Inc. (NYSE:CNO - Get Free Report) insider Jeanne Linnenbringer sold 4,060 shares of the firm's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $54.73, for a total transaction of $222,203.80. Following the completion of the transaction, the insider directly owned 30,128 shares in the company, valued at approximately $1,648,905.44. The trade was a 11.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CNO Financial Group Stock Performance

CNO stock traded up $0.79 during midday trading on Wednesday, reaching $55.33. 672,027 shares of the company's stock traded hands, compared to its average volume of 722,595. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 1.65. CNO Financial Group, Inc. has a 52-week low of $38.22 and a 52-week high of $57.59. The stock has a market cap of $5.12 billion, a P/E ratio of 19.01 and a beta of 0.80. The stock's 50-day moving average is $53.61 and its 200 day moving average is $47.59.

CNO Financial Group (NYSE:CNO - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.97 by $0.29. The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $999.45 million. CNO Financial Group had a net margin of 6.02% and a return on equity of 18.76%. The company's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.87 EPS. As a group, analysts anticipate that CNO Financial Group, Inc. will post 4.74 EPS for the current year.

CNO Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be given a $0.18 dividend. The ex-dividend date is Thursday, September 10th. This represents a $0.72 dividend on an annualized basis and a yield of 1.3%. CNO Financial Group's dividend payout ratio is presently 24.74%.

Institutional Trading of CNO Financial Group

Large investors have recently added to or reduced their stakes in the company. Nykredit A S purchased a new stake in shares of CNO Financial Group during the 2nd quarter worth approximately $39,000. Versant Capital Management Inc grew its holdings in shares of CNO Financial Group by 72.0% in the second quarter. Versant Capital Management Inc now owns 1,132 shares of the financial services provider's stock valued at $58,000 after purchasing an additional 474 shares in the last quarter. Bessemer Group Inc. increased its position in CNO Financial Group by 75.4% in the first 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 last quarter. EverSource Wealth Advisors LLC increased its position in CNO Financial Group by 123.1% in 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 during the last quarter. Finally, Osaic Holdings Inc. raised its stake 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 purchasing an additional 336 shares in the last quarter. Institutional investors own 95.43% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CNO shares. Jefferies Financial Group lowered CNO Financial Group from a "buy" rating to a "hold" rating and increased their price target for the stock from $53.00 to $55.00 in a research note on Friday, July 10th. Capital One Financial set a $70.00 price objective on CNO Financial Group in a research note on Wednesday, August 26th. Evercore set a $48.00 target price on CNO Financial Group and gave the stock an "in-line" rating in a research report on Monday, June 1st. Wall Street Zen raised CNO Financial Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Finally, Weiss Ratings raised CNO Financial Group from a "buy (b)" rating to a "buy (b+)" rating in a report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $56.00.

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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