Insider Selling: CNO Financial Group, Inc. (NYSE:CNO) General Counsel Sells 40,800 Shares of Stock

CNO Financial Group, Inc. (NYSE:CNO) General Counsel Matthew J. Zimpfer sold 40,800 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $40.10, for a total transaction of $1,636,080.00. Following the completion of the transaction, the general counsel now directly owns 204,143 shares of the company’s stock, valued at approximately $8,186,134.30. This represents a 16.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

CNO Financial Group Stock Performance

Shares of CNO stock opened at $39.81 on Friday. CNO Financial Group, Inc. has a one year low of $24.92 and a one year high of $42.02. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.19 and a current ratio of 0.22. The company has a 50 day moving average price of $38.72 and a 200 day moving average price of $36.73. The firm has a market capitalization of $4.11 billion, a price-to-earnings ratio of 10.64 and a beta of 1.04.

CNO Financial Group (NYSE:CNO) last released its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.25. CNO Financial Group had a net margin of 9.08% and a return on equity of 17.20%. Sell-side analysts anticipate that CNO Financial Group, Inc. will post 3.83 EPS for the current year.

CNO Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Monday, March 10th. CNO Financial Group’s payout ratio is currently 17.11%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CNO shares. Royal Bank of Canada boosted their price objective on shares of CNO Financial Group from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, February 10th. Jefferies Financial Group boosted their price objective on shares of CNO Financial Group from $36.00 to $41.00 and gave the company a “hold” rating in a research report on Tuesday, December 10th. Piper Sandler reissued an “overweight” rating and issued a $46.00 price objective (up previously from $44.00) on shares of CNO Financial Group in a research report on Monday, February 10th. BMO Capital Markets began 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 price target for the company. Finally, Keefe, Bruyette & Woods upped their price target on shares of CNO Financial Group from $42.00 to $44.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $40.50.

Institutional Investors Weigh In On CNO Financial Group

Several large investors have recently made changes to their positions in CNO. Assenagon Asset Management S.A. increased its position in shares of CNO Financial Group by 300.9% in the third quarter. Assenagon Asset Management S.A. now owns 1,199,040 shares of the financial services provider’s stock worth $42,086,000 after acquiring an additional 899,990 shares in the last quarter. Bank of America Corp DE increased its position in shares of CNO Financial Group by 236.9% in the fourth quarter. Bank of America Corp DE now owns 922,411 shares of the financial services provider’s stock worth $34,323,000 after acquiring an additional 648,591 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of CNO Financial Group in the fourth quarter worth $14,270,000. Norges Bank acquired a new stake in shares of CNO Financial Group in the fourth quarter worth $13,975,000. Finally, JPMorgan Chase & Co. increased its position in shares of CNO Financial Group by 41.3% in the fourth quarter. JPMorgan Chase & Co. now owns 1,274,370 shares of the financial services provider’s stock worth $47,419,000 after acquiring an additional 372,701 shares in the last quarter. 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.