CNO Financial Group (NYSE:CNO) Shares Cross Above Fifty Day Moving Average - Time to Sell?

Key Points

• CNO Financial Group shares rose above their 50-day moving average, trading near $54.47 versus the $54.40 average, while remaining above the 200-day average of $48.29.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $56.00; individual targets range from $55 to $70.
• The company reported stronger-than-expected quarterly results, with EPS of $1.26 versus the $0.97 consensus estimate and revenue up 11.6% year over year. CNO also maintains a $0.18 quarterly dividend, although insiders sold nearly 48,000 shares over the past three months.

CNO Financial Group, Inc. (NYSE:CNO - Get Free Report)'s stock price crossed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $54.40 and traded as high as $54.75. CNO Financial Group shares last traded at $54.47, with a volume of 486,680 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CNO. Wall Street Zen raised shares of CNO Financial Group from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Weiss Ratings downgraded CNO Financial Group from a "buy (a)" rating to a "buy (a-)" rating in a research report on Friday. Capital One Financial set a $70.00 target price on CNO Financial Group in a research note on Wednesday, August 26th. Keefe, Bruyette & Woods raised their target price on CNO Financial Group from $53.00 to $57.00 and gave the stock a "market perform" rating in a research note on Monday, August 3rd. Finally, Jefferies Financial Group cut CNO Financial Group from a "buy" rating to a "hold" rating and lifted their price target for the stock from $53.00 to $55.00 in a research report on Friday, July 10th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $56.00.

CNO Financial Group Stock Up 0.5%

The business's 50-day simple moving average is $54.40 and its two-hundred day simple moving average is $48.29. The firm has a market cap of $5.04 billion, a price-to-earnings ratio of 18.72 and a beta of 0.80.

CNO Financial Group (NYSE:CNO - Get Free Report) last posted its earnings results on Thursday, July 30th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.29. The firm had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $999.45 million. The company's revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.87 earnings per share. On average, analysts expect that CNO Financial Group, Inc. will post 4.74 earnings per share for the current year.

CNO Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Thursday, September 10th. CNO Financial Group's dividend payout ratio (DPR) is presently 24.74%.

Insider Buying and Selling at CNO Financial Group

In other news, insider Jeremy D. Williams sold 4,362 shares of the stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $55.72, for a total transaction of $243,050.64. Following the transaction, the insider owned 61,041 shares in the company, valued at $3,401,204.52. This trade represents a 6.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Karen J. Detoro sold 5,964 shares of CNO Financial Group stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $55.12, for a total transaction of $328,735.68. Following the completion of the sale, the insider directly owned 36,450 shares in the company, valued at $2,009,124. This represents a 14.06% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 47,995 shares of company stock valued at $2,641,336. Company insiders own 3.44% of the company's stock.

Hedge Funds Weigh In On CNO Financial Group

Large investors have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System purchased a new position in CNO Financial Group in the 1st quarter worth approximately $1,125,000. Callan Family Office LLC acquired a new position in shares of CNO Financial Group during the 2nd quarter worth approximately $1,089,000. BlackRock Inc. purchased a new stake in shares of CNO Financial Group in the second quarter valued at approximately $682,433,000. Deutsche Bank AG purchased a new stake in shares of CNO Financial Group in the second quarter valued at approximately $6,545,000. Finally, Hsbc Holdings PLC grew its position in shares of CNO Financial Group by 102.1% in the fourth quarter. Hsbc Holdings PLC now owns 45,025 shares of the financial services provider's stock valued at $1,914,000 after purchasing an additional 22,749 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, Inc is a holding company for a group of insurance and financial services businesses focused on serving middle-income Americans, particularly individuals approaching or in retirement. Through its operating companies, CNO provides products designed to help customers protect income, manage health care expenses and prepare for retirement.

CNO's principal brands include Bankers Life, Colonial Penn and Washington National. Its offerings include life insurance, annuities, supplemental health insurance, Medicare supplement insurance and other insurance products.

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