CNO Financial Group (NYSE:CNO) Sets New 52-Week High - Time to Buy?

CNO Financial Group, Inc. (NYSE:CNO - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $42.28 and last traded at $42.11, with a volume of 17728 shares changing hands. The stock had previously closed at $41.69.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Piper Sandler reiterated an "overweight" rating and issued a $46.00 target price (up previously from $44.00) on shares of CNO Financial Group in a research report on Monday, February 10th. Jefferies Financial Group raised their target price on CNO Financial Group from $36.00 to $41.00 and gave the company a "hold" rating in a research report on Tuesday, December 10th. 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 note on Monday, February 10th. Keefe, Bruyette & Woods increased their price objective on CNO Financial Group from $42.00 to $44.00 and gave the company a "market perform" rating in a research note on Wednesday, February 12th. Finally, BMO Capital Markets started coverage on CNO Financial Group in a report on Thursday, January 23rd. They set a "market perform" rating and a $38.00 target price on the stock. One equities research 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 MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $40.50.

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CNO Financial Group Price Performance

The company has a quick ratio of 0.19, a current ratio of 0.22 and a debt-to-equity ratio of 1.61. The company has a market cap of $4.00 billion, a price-to-earnings ratio of 10.61 and a beta of 1.02. The stock's 50-day simple moving average is $39.34 and its 200 day simple moving average is $37.23.

CNO Financial Group (NYSE:CNO - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. 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 17.20% and a net margin of 9.08%. On average, equities 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 declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be paid 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 1.61%. CNO Financial Group's dividend payout ratio (DPR) is presently 17.11%.

Insider Transactions at CNO Financial Group

In related news, General Counsel Matthew J. Zimpfer sold 40,800 shares of CNO Financial Group stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $41.49, for a total value of $1,692,792.00. Following the completion of the transaction, the general counsel now owns 244,943 shares in the company, valued at $10,162,685.07. The trade was a 14.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Rocco F. Tarasi III sold 4,500 shares of the stock in a transaction on Wednesday, December 18th. The shares were 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 directly owns 72,896 shares in the company, valued at $2,734,328.96. This trade represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 87,584 shares of company stock valued at $3,554,089. 3.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CNO Financial Group

Several institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. raised its holdings in CNO Financial Group by 58.7% during the fourth quarter. Pacer Advisors Inc. now owns 24,580 shares of the financial services provider's stock worth $915,000 after purchasing an additional 9,096 shares in the last quarter. Principal Financial Group Inc. raised 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 acquiring an additional 107,589 shares in the last quarter. Allianz Asset Management GmbH lifted its position in CNO Financial Group by 1.3% in the fourth quarter. Allianz Asset Management GmbH now owns 848,407 shares of the financial services provider's stock valued at $31,569,000 after acquiring an additional 10,846 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in CNO Financial Group by 69.8% in the third quarter. BNP Paribas Financial Markets now owns 39,946 shares of the financial services provider's stock valued at $1,402,000 after acquiring an additional 16,420 shares in the last quarter. Finally, Congress Asset Management Co. grew its holdings in shares of CNO Financial Group by 5.9% during the fourth quarter. Congress Asset Management Co. now owns 157,004 shares of the financial services provider's stock worth $5,842,000 after purchasing an additional 8,689 shares during the last quarter. Hedge funds and other institutional investors own 95.43% of the company's stock.

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.