CNO Financial Group (NYSE:CNO) Sets New 52-Week High After Dividend Announcement

CNO Financial Group, Inc. (NYSE:CNO - Get Free Report) shares reached a new 52-week high during mid-day trading on Thursday following a dividend announcement from the company. The company traded as high as $41.58 and last traded at $41.55, with a volume of 407802 shares traded. The stock had previously closed at $40.59.

The newly announced dividend which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be given a dividend of $0.16 per share. The ex-dividend date is Monday, March 10th. This represents a $0.64 dividend on an annualized basis and a yield of 1.55%. CNO Financial Group's dividend payout ratio is currently 17.11%.

Analysts Set New Price Targets

CNO has been the subject of a number of research reports. Jefferies Financial Group lifted their price target on CNO Financial Group from $36.00 to $41.00 and gave the stock a "hold" rating in a research report on Tuesday, December 10th. BMO Capital Markets initiated coverage on 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. Keefe, Bruyette & Woods lifted their price target on 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. Piper Sandler reaffirmed an "overweight" rating and set a $46.00 price target (up previously from $44.00) on shares of CNO Financial Group in a research report on Monday, February 10th. Finally, Royal Bank of Canada lifted their price target on CNO Financial Group from $40.00 to $45.00 and gave the stock an "outperform" rating in a research report on Monday, February 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, CNO Financial Group presently has an average rating of "Hold" and an average target price of $40.50.

CNO Financial Group Trading Down 0.2 %

The firm has a market cap of $4.27 billion, a price-to-earnings ratio of 11.07 and a beta of 1.04. The company has a fifty day moving average price of $38.49 and a 200-day moving average price of $36.51. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 1.50.

CNO Financial Group (NYSE:CNO - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.25. CNO Financial Group had a return on equity of 17.21% and a net margin of 9.08%. As a group, research analysts expect that CNO Financial Group, Inc. will post 3.79 EPS for the current year.

Insider Buying and Selling

In related news, CMO Rocco F. Tarasi III sold 4,500 shares of the company's stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $37.51, for a total value of $168,795.00. Following the completion of the transaction, the chief marketing officer now owns 72,896 shares of the company's stock, valued at approximately $2,734,328.96. This represents a 5.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CNO Financial Group

Several large investors have recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. increased its stake in CNO Financial Group by 3.1% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 4,285,783 shares of the financial services provider's stock worth $159,474,000 after buying an additional 130,342 shares in the last quarter. American Century Companies Inc. increased its stake in CNO Financial Group by 11.7% during the 4th quarter. American Century Companies Inc. now owns 2,687,861 shares of the financial services provider's stock worth $100,015,000 after buying an additional 282,611 shares in the last quarter. Principal Financial Group Inc. increased its stake in CNO Financial Group by 6.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,899,599 shares of the financial services provider's stock worth $66,676,000 after buying an additional 107,589 shares in the last quarter. JPMorgan Chase & Co. increased its stake in CNO Financial Group by 41.3% during the 4th quarter. JPMorgan Chase & Co. now owns 1,274,370 shares of the financial services provider's stock worth $47,419,000 after buying an additional 372,701 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in CNO Financial Group by 300.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,199,040 shares of the financial services provider's stock worth $42,086,000 after buying an additional 899,990 shares in the last quarter. 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.