Insider Selling: CNO Financial Group, Inc. (NYSE:CNO) CMO Sells 4,500 Shares of Stock

CNO Financial Group, Inc. (NYSE:CNO - Get Free Report) CMO Rocco F. Tarasi III sold 4,500 shares of CNO Financial Group 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 sale, the chief marketing officer now directly owns 72,896 shares in the company, valued at approximately $2,734,328.96. The trade was a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

CNO Financial Group Stock Performance

Shares of NYSE:CNO traded down $1.76 on Wednesday, reaching $35.76. 900,644 shares of the company's stock were exchanged, compared to its average volume of 733,476. The business's 50-day moving average is $37.59 and its two-hundred day moving average is $33.51. 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, Inc. has a fifty-two week low of $24.92 and a fifty-two week high of $40.91. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of 14.42 and a beta of 1.02.

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

CNO Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 10th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.79%. The ex-dividend date is Tuesday, December 10th. CNO Financial Group's dividend payout ratio is presently 25.81%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CNO shares. Jefferies Financial Group lifted their price objective on CNO Financial Group from $36.00 to $41.00 and gave the stock a "hold" rating in a report on Tuesday, December 10th. Royal Bank of Canada lifted their price target on shares of CNO Financial Group from $38.00 to $40.00 and gave the stock an "outperform" rating in a research note on Monday, November 4th. Finally, Piper Sandler upped their price target on shares of CNO Financial Group from $42.00 to $44.00 and gave the company an "overweight" rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $37.00.

Hedge Funds Weigh In On CNO Financial Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. American Century Companies Inc. increased its position in CNO Financial Group by 19.4% in the 2nd quarter. American Century Companies Inc. now owns 2,117,416 shares of the financial services provider's stock valued at $58,695,000 after acquiring an additional 343,819 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of CNO Financial Group by 300.9% during the third quarter. Assenagon Asset Management S.A. now owns 1,199,040 shares of the financial services provider's stock valued at $42,086,000 after purchasing an additional 899,990 shares in the last quarter. FMR LLC lifted its holdings in CNO Financial Group by 28.8% in the third quarter. FMR LLC now owns 1,040,619 shares of the financial services provider's stock worth $36,526,000 after purchasing an additional 232,631 shares during the period. Victory Capital Management Inc. grew its position in CNO Financial Group by 455.1% in the 2nd quarter. Victory Capital Management Inc. now owns 777,271 shares of the financial services provider's stock valued at $21,546,000 after buying an additional 637,254 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in CNO Financial Group by 97.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 622,348 shares of the financial services provider's stock valued at $17,251,000 after buying an additional 306,751 shares in the last quarter. Institutional investors and hedge funds 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.

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