CNO Financial Group (NYSE:CNO) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

by · The Markets Daily

Shares of CNO Financial Group, Inc. (NYSE:CNO – Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $39.29 and traded as high as $43.50. CNO Financial Group shares last traded at $42.8560, with a volume of 567,779 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wall Street Zen upgraded shares of CNO Financial Group from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of CNO Financial Group in a research report on Wednesday, October 8th. Piper Sandler increased their price target on CNO Financial Group from $46.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, December 23rd. Jefferies Financial Group upgraded CNO Financial Group from a “hold” rating to a “buy” rating and raised their price objective for the company from $42.00 to $47.00 in a research note on Monday, December 15th. Finally, Keefe, Bruyette & Woods upped their target price on 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. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $45.00.

Read Our Latest Report on CNO Financial Group

CNO Financial Group Price Performance

The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.45. The company has a 50 day simple moving average of $41.20 and a 200-day simple moving average of $39.36. The stock has a market cap of $4.05 billion, a price-to-earnings ratio of 14.85 and a beta of 0.86.

CNO Financial Group (NYSE:CNO – Get Free Report) last issued its earnings results on Friday, May 19th. The financial services provider reported $0.84 EPS for the quarter. The company had revenue of $968.30 million during the quarter. CNO Financial Group had a return on equity of 15.81% and a net margin of 6.64%. As a group, research analysts anticipate that CNO Financial Group, Inc. will post 3.83 EPS for the current fiscal year.

CNO Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 23rd. Shareholders of record on Wednesday, December 10th were paid a dividend of $0.17 per share. The ex-dividend date was Wednesday, December 10th. This represents a $0.68 annualized dividend and a yield of 1.6%. CNO Financial Group’s payout ratio is presently 23.78%.

Insider Transactions at CNO Financial Group

In related news, CIO Eric R. Johnson sold 48,665 shares of the stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $41.24, for a total transaction of $2,006,944.60. Following the sale, the executive owned 671,542 shares in the company, valued at $27,694,392.08. This represents a 6.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Rocco F. Tarasi III sold 9,283 shares of the firm’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $42.60, for a total transaction of $395,455.80. Following the completion of the transaction, the chief marketing officer directly owned 73,932 shares in the company, valued at $3,149,503.20. This represents a 11.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 3.00% of the company’s stock.

Institutional Trading of CNO Financial Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. boosted its position in CNO Financial Group by 1.0% during the 3rd quarter. Franklin Resources Inc. now owns 4,302,316 shares of the financial services provider’s stock valued at $170,157,000 after purchasing an additional 42,467 shares during the period. American Century Companies Inc. increased its position in CNO Financial Group by 3.8% in the third quarter. American Century Companies Inc. now owns 3,239,944 shares of the financial services provider’s stock worth $128,140,000 after buying an additional 118,417 shares during the period. Allianz Asset Management GmbH lifted its stake in CNO Financial Group by 70.9% in the second quarter. Allianz Asset Management GmbH now owns 1,546,745 shares of the financial services provider’s stock valued at $59,673,000 after buying an additional 641,950 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings 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 acquiring an additional 561,327 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in shares of CNO Financial Group by 8.1% during the third quarter. AQR Capital Management LLC now owns 898,238 shares of the financial services provider’s stock valued at $35,525,000 after acquiring an additional 66,937 shares during the period. 95.43% of the stock is currently owned by institutional investors and hedge funds.

About CNO Financial Group

(Get Free Report)

CNO Financial Group is an Indiana‐based holding company that offers a range of insurance and retirement solutions through its operating subsidiaries. Its primary business activities include life insurance, annuities, and supplemental health insurance products designed to help individuals plan for retirement and manage health‐related expenses. The company serves middle‐income Americans, with particular emphasis on senior customers seeking guaranteed coverage and reliable income streams.

Originally founded as Conseco in 1979, the company underwent a financial restructuring and rebranded as CNO Financial Group in 2010.

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