Karen Detoro Sells 9,374 Shares of CNO Financial Group (NYSE:CNO) Stock

Key Points

• Insider sale: Karen Detoro sold 9,374 CNO Financial Group shares for approximately $515,383 under a pre-arranged Rule 10b5-1 plan, reducing her holdings by 17.48% to 44,250 shares.
• Strong financial performance: CNO reported quarterly EPS of $1.26, beating estimates by $0.29, while revenue rose 11.6% year over year to $1.29 billion.
• Market and shareholder developments: CNO shares recently traded at $55.33, and the company declared a quarterly dividend of $0.18 per share. Analysts maintain a consensus “Hold” rating with a $56 target price, while institutional investors own 95.43% of the stock.

CNO Financial Group, Inc. (NYSE:CNO - Get Free Report) insider Karen Detoro sold 9,374 shares of the firm's stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $54.98, for a total transaction of $515,382.52. Following the completion of the transaction, the insider owned 44,250 shares of the company's stock, valued at approximately $2,432,865. This trade represents a 17.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CNO Financial Group Trading Up 1.4%

NYSE:CNO traded up $0.79 during mid-day trading on Wednesday, hitting $55.33. 672,027 shares of the company's stock were exchanged, compared to its average volume of 722,595. CNO Financial Group, Inc. has a fifty-two week low of $38.22 and a fifty-two week high of $57.59. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 1.65. The firm has a market capitalization of $5.12 billion, a P/E ratio of 19.01 and a beta of 0.80. The company has a 50 day simple moving average of $53.61 and a 200-day simple moving average of $47.59.

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

CNO Financial Group Announces Dividend

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

Analyst Ratings Changes

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

Institutional Investors Weigh In On CNO Financial Group

A number of hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its position in shares of CNO Financial Group by 29.5% during the 1st quarter. Royal Bank of Canada now owns 176,059 shares of the financial services provider's stock worth $7,332,000 after buying an additional 40,054 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake 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 worth $2,531,000 after acquiring an additional 797 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in CNO Financial Group by 5.8% in 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 worth $15,692,000 after purchasing an additional 20,728 shares during the period. Jane Street Group LLC increased its stake in CNO Financial Group by 146.4% in 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. raised its holdings in shares of 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 during the period. 95.43% of the stock is currently owned by institutional investors.

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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