CNO Financial Group (NYSE:CNO) Sets New 12-Month High on Strong Earnings

CNO Financial Group, Inc. (NYSE:CNO - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Friday after the company announced better than expected quarterly earnings. The company traded as high as $41.23 and last traded at $40.25, with a volume of 100762 shares. The stock had previously closed at $40.02.

The financial services provider reported $1.31 EPS for the quarter, beating analysts' consensus estimates of $1.06 by $0.25. CNO Financial Group had a net margin of 9.08% and a return on equity of 17.21%.

CNO Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 10th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.56%. The ex-dividend date was Tuesday, December 10th. CNO Financial Group's payout ratio is currently 17.11%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CNO shares. Piper Sandler reissued an "overweight" rating and set a $46.00 price target (up from $44.00) on shares of CNO Financial Group in a research report on Monday. BMO Capital Markets initiated coverage on shares of CNO Financial Group in a research report on Thursday, January 23rd. They issued a "market perform" rating and a $38.00 price target on the stock. Royal Bank of Canada increased their price objective on shares of CNO Financial Group from $40.00 to $45.00 and gave the stock an "outperform" rating in a research note on Monday. Finally, Jefferies Financial Group lifted their target price on CNO Financial Group from $36.00 to $41.00 and gave the company a "hold" rating in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $38.33.

Insider Buying and Selling at CNO Financial Group

In other news, CMO Rocco F. Tarasi III sold 1,484 shares of the company's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $38.02, for a total transaction of $56,421.68. Following the completion of the sale, the chief marketing officer now directly owns 79,896 shares of the company's stock, valued at $3,037,645.92. This represents a 1.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CIO Eric R. Johnson sold 3,978 shares of CNO Financial Group stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $39.09, for a total value of $155,500.02. Following the completion of the transaction, the executive now directly owns 631,844 shares in the company, valued at $24,698,781.96. This represents a 0.63 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,962 shares of company stock worth $380,717. 3.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Planning raised its stake in shares of CNO Financial Group by 7.2% during the 2nd quarter. Creative Planning now owns 11,007 shares of the financial services provider's stock worth $305,000 after purchasing an additional 742 shares in the last quarter. GAMMA Investing LLC raised its position in CNO Financial Group by 141.8% during the third quarter. GAMMA Investing LLC now owns 1,985 shares of the financial services provider's stock valued at $70,000 after acquiring an additional 1,164 shares in the last quarter. CWM LLC lifted its stake in CNO Financial Group by 53.0% in the third quarter. CWM LLC now owns 1,750 shares of the financial services provider's stock valued at $61,000 after acquiring an additional 606 shares during the last quarter. Trust Point Inc. bought a new stake in CNO Financial Group in the third quarter worth approximately $217,000. Finally, Net Worth Advisory Group acquired a new position in shares of CNO Financial Group during the 3rd quarter worth $344,000. 95.43% of the stock is currently owned by institutional investors and hedge funds.

CNO Financial Group Stock Down 0.1 %

The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 1.50. The business's fifty day moving average price is $38.27 and its two-hundred day moving average price is $36.22. The firm has a market cap of $4.24 billion, a P/E ratio of 10.98 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.