CNO Financial Group (NYSE:CNO) Reaches New 1-Year High Following Dividend Announcement

CNO Financial Group, Inc. (NYSE:CNO)’s share price reached a new 52-week high on Thursday following a dividend announcement from the company. The company traded as high as $41.58 and last traded at $41.55, with a volume of 407802 shares changing hands. The stock had previously closed at $40.59.

The newly announced dividend which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.54%. CNO Financial Group’s dividend payout ratio is 17.11%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. BMO Capital Markets initiated coverage on shares of CNO Financial Group in a research report on Thursday, January 23rd. They set a “market perform” rating and a $38.00 target price on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $46.00 price objective (up from $44.00) on shares of CNO Financial Group in a report on Monday. Keefe, Bruyette & Woods upped their price objective on CNO Financial Group from $42.00 to $44.00 and gave the company a “market perform” rating in a research note on Wednesday. Jefferies Financial Group raised their target price on CNO Financial Group from $36.00 to $41.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. Finally, Royal Bank of Canada upped their price target on CNO Financial Group from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, CNO Financial Group currently has a consensus rating of “Hold” and an average target price of $40.50.

CNO Financial Group Stock Up 2.4 %

The firm has a market capitalization of $4.29 billion, a price-to-earnings ratio of 11.11 and a beta of 1.04. The firm has a fifty day moving average price of $38.34 and a 200 day moving average price of $36.32. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 1.50.

CNO Financial Group (NYSE:CNO) last posted its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.25. CNO Financial Group had a return on equity of 17.21% and a net margin of 9.08%. Sell-side analysts anticipate that CNO Financial Group, Inc. will post 3.79 EPS for the current fiscal year.

Insider Buying and Selling at CNO Financial Group

In related news, CIO Eric R. Johnson sold 3,978 shares of CNO Financial Group stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $39.09, for a total value of $155,500.02. Following the completion of the sale, the executive now directly owns 631,844 shares in the company, valued at $24,698,781.96. This trade represents a 0.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Rocco F. Tarasi III sold 4,500 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $37.51, for a total transaction of $168,795.00. Following the transaction, the chief marketing officer now owns 72,896 shares in the company, valued at approximately $2,734,328.96. The trade was a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,962 shares of company stock worth $380,717. 3.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CNO Financial Group

Institutional investors have recently modified their holdings of the business. Creative Planning boosted its position in shares of CNO Financial Group by 7.2% in the 2nd quarter. Creative Planning now owns 11,007 shares of the financial services provider’s stock worth $305,000 after purchasing an additional 742 shares during the last quarter. GAMMA Investing LLC boosted its holdings in CNO Financial Group by 141.8% during the third quarter. GAMMA Investing LLC now owns 1,985 shares of the financial services provider’s stock worth $70,000 after buying an additional 1,164 shares during the last quarter. CWM LLC boosted its holdings in CNO Financial Group by 53.0% during the third quarter. CWM LLC now owns 1,750 shares of the financial services provider’s stock worth $61,000 after buying an additional 606 shares during the last quarter. Trust Point Inc. acquired a new position in shares of CNO Financial Group during the 3rd quarter worth about $217,000. Finally, Net Worth Advisory Group bought a new stake in shares of CNO Financial Group in the 3rd quarter valued at about $344,000. Institutional investors and hedge funds own 95.43% of the company’s stock.

About CNO Financial Group

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.