Insider Selling: CNO Financial Group, Inc. (NYSE:CNO) Insider Sells 12,581 Shares of Stock

CNO Financial Group, Inc. (NYSE:CNO - Get Free Report) insider Michael E. Mead sold 12,581 shares of the stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $37.97, for a total value of $477,700.57. Following the completion of the sale, the insider directly owned 15,729 shares in the company, valued at $597,230.13. This represents a 44.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

CNO Financial Group Stock Down 2.1%

NYSE:CNO traded down $0.80 during trading hours on Monday, hitting $37.47. The company's stock had a trading volume of 601,986 shares, compared to its average volume of 707,365. CNO Financial Group, Inc. has a 52-week low of $27.72 and a 52-week high of $43.20. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.59. The stock has a market capitalization of $3.71 billion, a P/E ratio of 13.10 and a beta of 0.87. The stock has a fifty day moving average of $37.94 and a 200-day moving average of $38.82.

CNO Financial Group (NYSE:CNO - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The financial services provider reported $0.79 EPS for the quarter, meeting analysts' consensus estimates of $0.79. CNO Financial Group had a return on equity of 17.86% and a net margin of 7.11%. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $975.80 million. During the same quarter in the prior year, the business posted $0.52 EPS. The business's revenue for the quarter was down 13.2% on a year-over-year basis. On average, equities analysts forecast that CNO Financial Group, Inc. will post 3.83 earnings per share for the current year.

CNO Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 24th. Shareholders of record on Tuesday, June 10th were paid a $0.17 dividend. This is a positive change from CNO Financial Group's previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend was Tuesday, June 10th. CNO Financial Group's dividend payout ratio is currently 23.78%.

Analyst Ratings Changes

Separately, Piper Sandler upped their target price on shares of CNO Financial Group from $46.00 to $49.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $41.00.

Institutional Trading of CNO Financial Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mariner LLC lifted its holdings in shares of CNO Financial Group by 6.7% during the fourth quarter. Mariner LLC now owns 6,116 shares of the financial services provider's stock worth $228,000 after purchasing an additional 385 shares during the period. HighTower Advisors LLC grew its holdings in CNO Financial Group by 5.3% during the fourth quarter. HighTower Advisors LLC now owns 7,873 shares of the financial services provider's stock worth $293,000 after acquiring an additional 394 shares during the period. Corient Private Wealth LLC increased its holdings in shares of CNO Financial Group by 2.6% in the 4th quarter. Corient Private Wealth LLC now owns 15,634 shares of the financial services provider's stock valued at $582,000 after purchasing an additional 400 shares in the last quarter. Smartleaf Asset Management LLC grew its position in CNO Financial Group by 95.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 855 shares of the financial services provider's stock worth $32,000 after buying an additional 417 shares during the period. Finally, Blue Trust Inc. lifted its position in shares of CNO Financial Group by 10.4% during the 1st quarter. Blue Trust Inc. now owns 4,804 shares of the financial services provider's stock valued at $200,000 after acquiring an additional 451 shares during the period. Institutional investors and hedge funds own 95.43% of the company's stock.

CNO Financial Group Company Profile

CNO Financial Group, Inc, through its subsidiaries, develops, markets, and administers health insurance, annuity, individual life insurance, insurance products, and financial services for senior and middle-income markets in the United States. It offers Medicare supplement, supplemental health, and long-term care insurance policies; life insurance; and annuities, as well as Medicare advantage plans to individuals through phone, online, mail, and face-to-face.

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