CNO Financial Group (NYSE:CNO) Stock Price Up 4.8% – What’s Next?
by Jessica Moore · The Cerbat GemShares of CNO Financial Group, Inc. (NYSE:CNO – Get Free Report) traded up 4.8% on Monday . The company traded as high as $43.04 and last traded at $43.2350. 52,381 shares traded hands during trading, a decline of 92% from the average session volume of 692,819 shares. The stock had previously closed at $41.24.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the stock. Keefe, Bruyette & Woods upped their target price on shares of CNO Financial Group from $44.00 to $45.00 and gave the company a “market perform” rating in a research report on Thursday, October 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of CNO Financial Group in a research note on Wednesday, October 8th. Jefferies Financial Group upgraded shares of CNO Financial Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $42.00 to $47.00 in a research note on Monday. Finally, Wall Street Zen raised CNO Financial Group from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, CNO Financial Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.80.
Check Out Our Latest Stock Report on CNO
CNO Financial Group Trading Up 0.4%
The company has a debt-to-equity ratio of 1.45, a current ratio of 0.18 and a quick ratio of 0.18. The company has a market capitalization of $4.10 billion, a P/E ratio of 15.05 and a beta of 0.86. The firm has a fifty day moving average price of $40.38 and a 200-day moving average price of $38.95.
CNO Financial Group (NYSE:CNO – Get Free Report) last issued its quarterly earnings data on Friday, May 19th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter. CNO Financial Group had a net margin of 6.64% and a return on equity of 15.81%. The company had revenue of $968.30 million for the quarter. On average, equities research analysts anticipate that CNO Financial Group, Inc. will post 3.83 earnings per share for the current year.
CNO Financial Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Wednesday, December 10th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, December 10th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.6%. CNO Financial Group’s dividend payout ratio is currently 23.78%.
Insider Buying and Selling
In other news, CMO Rocco F. Tarasi III sold 9,283 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $42.60, for a total transaction of $395,455.80. Following the transaction, the chief marketing officer directly owned 73,932 shares in the company, valued at approximately $3,149,503.20. This trade represents a 11.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CIO Eric R. Johnson sold 48,665 shares of the business’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $41.24, for a total value of $2,006,944.60. Following the sale, the executive owned 671,542 shares in the company, valued at approximately $27,694,392.08. The trade was a 6.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.38% of the company’s stock.
Institutional Trading of CNO Financial Group
Hedge funds have recently made changes to their positions in the stock. Allianz Asset Management GmbH grew its position in shares of CNO Financial Group by 70.9% during the 2nd quarter. Allianz Asset Management GmbH now owns 1,546,745 shares of the financial services provider’s stock worth $59,673,000 after buying an additional 641,950 shares during the period. Nuveen LLC bought a new position in shares of CNO Financial Group in the 1st quarter valued at $24,071,000. Allspring Global Investments Holdings LLC boosted its stake in shares of CNO Financial Group by 72.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,333,698 shares of the financial services provider’s stock valued at $51,641,000 after purchasing an additional 561,327 shares in the last quarter. Millennium Management LLC raised its stake in CNO Financial Group by 190.3% during the third quarter. Millennium Management LLC now owns 579,656 shares of the financial services provider’s stock worth $22,925,000 after buying an additional 379,984 shares during the last quarter. Finally, Capitolis Liquid Global Markets LLC increased its stake in CNO Financial Group by 384.9% in the third quarter. Capitolis Liquid Global Markets LLC now owns 438,800 shares of the financial services provider’s stock valued at $17,355,000 after purchasing an additional 348,300 shares in the last quarter. 95.43% of the stock is owned by hedge funds and other institutional investors.
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.
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