CNO Financial Group (NYSE:CNO) Hits New 52-Week High – Should You Buy?

CNO Financial Group, Inc. (NYSE:CNO) shares reached a new 52-week high during trading on Monday . The stock traded as high as $40.29 and last traded at $40.29, with a volume of 407 shares. The stock had previously closed at $39.91.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Evercore ISI increased their target price on CNO Financial Group from $27.00 to $29.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 31st. Royal Bank of Canada lifted their target price on CNO Financial Group from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Finally, Piper Sandler increased their price target on shares of CNO Financial Group from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $34.50.

CNO Financial Group Stock Performance

The company has a 50-day moving average of $36.19 and a 200 day moving average of $32.30. The firm has a market capitalization of $4.18 billion, a PE ratio of 16.29 and a beta of 1.01. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 1.50.

CNO Financial Group (NYSE:CNO) last issued its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $0.82 by $0.29. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $945.44 million. CNO Financial Group had a return on equity of 17.53% and a net margin of 6.06%. CNO Financial Group’s revenue was up 19.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.88 earnings per share. Equities research analysts predict that CNO Financial Group, Inc. will post 3.73 EPS for the current year.

CNO Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 10th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Tuesday, December 10th. CNO Financial Group’s dividend payout ratio (DPR) is currently 25.81%.

Insider Buying and Selling

In other news, insider Jeanne L. Linnenbringer sold 5,435 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $34.26, for a total value of $186,203.10. Following the completion of the sale, the insider now directly owns 37,663 shares in the company, valued at approximately $1,290,334.38. The trade was a 12.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jeremy David Williams sold 4,783 shares of CNO Financial Group stock in a transaction on Monday, November 11th. The stock was sold at an average price of $40.09, for a total transaction of $191,750.47. Following the completion of the transaction, the insider now owns 62,121 shares in the company, valued at approximately $2,490,430.89. The trade was a 7.15 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,560 shares of company stock worth $720,550. Corporate insiders own 3.21% of the company’s stock.

Institutional Investors Weigh In On CNO Financial Group

Institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its stake in shares of CNO Financial Group by 5.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 80,995 shares of the financial services provider’s stock valued at $2,226,000 after purchasing an additional 4,304 shares during the period. Bayesian Capital Management LP purchased a new stake in CNO Financial Group during the 1st quarter valued at $203,000. EMC Capital Management grew its holdings in CNO Financial Group by 23.2% in the 1st quarter. EMC Capital Management now owns 29,605 shares of the financial services provider’s stock worth $814,000 after acquiring an additional 5,579 shares during the last quarter. First Financial Bank Trust Division purchased a new position in shares of CNO Financial Group in the second quarter valued at about $343,000. Finally, Harbor Capital Advisors Inc. lifted its holdings in CNO Financial Group by 269.9% in the second quarter. Harbor Capital Advisors Inc. now owns 13,884 shares of the financial services provider’s stock worth $385,000 after buying an additional 10,131 shares during the period. 95.43% of the stock is currently 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.