CNO Financial Group (NYSE:CNO) Reaches New 12-Month High Following Strong Earnings

CNO Financial Group, Inc. (NYSE:CNO)’s stock price reached a new 52-week high on Friday following a stronger than expected earnings report. The company traded as high as $41.23 and last traded at $40.25, with a volume of 100762 shares trading hands. The stock had previously closed at $40.02.

The financial services provider reported $1.31 EPS for the quarter, topping the consensus estimate of $1.06 by $0.25. CNO Financial Group had a return on equity of 17.53% and a net margin of 6.06%.

CNO Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 24th. Investors of record on Tuesday, December 10th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $0.64 annualized dividend and a yield of 1.60%. CNO Financial Group’s dividend payout ratio is presently 25.81%.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Piper Sandler boosted their target price on shares of CNO Financial Group from $42.00 to $44.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. BMO Capital Markets initiated coverage on CNO Financial Group in a report on Thursday, January 23rd. They issued a “market perform” rating and a $38.00 price objective on the stock. 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 note on Tuesday, December 10th. Finally, Royal Bank of Canada upped their price target on CNO Financial Group from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $37.17.

Insider Activity

In related news, CIO Eric R. Johnson sold 3,978 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $39.09, for a total transaction of $155,500.02. Following the completion of the sale, the executive now owns 631,844 shares in the company, valued at $24,698,781.96. The trade was a 0.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeremy David Williams sold 4,783 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $40.09, for a total value of $191,750.47. Following the completion of the transaction, the insider now directly owns 62,121 shares of the company’s stock, valued at $2,490,430.89. This trade represents a 7.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,745 shares of company stock worth $572,467. 3.21% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CNO Financial Group

Several hedge funds have recently made changes to their positions in CNO. Principal Financial Group Inc. raised its holdings in CNO Financial Group by 6.0% during the third quarter. Principal Financial Group Inc. now owns 1,899,599 shares of the financial services provider’s stock worth $66,676,000 after purchasing an additional 107,589 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of CNO Financial Group by 69.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 39,946 shares of the financial services provider’s stock worth $1,402,000 after buying an additional 16,420 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of CNO Financial Group by 58.7% in the 4th quarter. Pacer Advisors Inc. now owns 24,580 shares of the financial services provider’s stock valued at $915,000 after buying an additional 9,096 shares during the period. Barclays PLC boosted its position in shares of CNO Financial Group by 113.7% during the 3rd quarter. Barclays PLC now owns 219,141 shares of the financial services provider’s stock worth $7,691,000 after purchasing an additional 116,617 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in CNO Financial Group during the third quarter worth about $227,000. Hedge funds and other institutional investors own 95.43% of the company’s stock.

CNO Financial Group Stock Down 0.3 %

The firm’s 50-day simple moving average is $38.22 and its two-hundred day simple moving average is $36.00. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.19 and a quick ratio of 0.19. The company has a market capitalization of $4.12 billion, a price-to-earnings ratio of 16.14 and a beta of 1.04.

CNO Financial Group Company Profile

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.