CNO Financial Group (NYSE:CNO) Sets New 1-Year High - Here's Why

CNO Financial Group, Inc. (NYSE:CNO - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $35.69 and last traded at $35.63, with a volume of 22019 shares changing hands. The stock had previously closed at $35.39.

Wall Street Analysts Forecast Growth

CNO has been the topic of a number of recent research reports. Royal Bank of Canada boosted their price objective on CNO Financial Group from $30.00 to $38.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 31st. Piper Sandler boosted their price target on shares of CNO Financial Group from $37.00 to $38.00 and gave the company an "overweight" rating in a research report on Wednesday, October 2nd. Evercore ISI raised their price objective on shares of CNO Financial Group from $27.00 to $29.00 and gave the stock an "underperform" rating in a research report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods boosted their target price on shares of CNO Financial Group from $30.00 to $31.00 and gave the company a "market perform" rating in a report on Monday, July 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $34.00.

CNO Financial Group Price Performance

The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.19 and a current ratio of 0.19. The stock's 50-day moving average is $33.69 and its two-hundred day moving average is $30.07. The stock has a market cap of $3.88 billion, a PE ratio of 10.44 and a beta of 1.01.

CNO Financial Group (NYSE:CNO - Get Free Report) last released its quarterly earnings results on Monday, July 29th. The financial services provider reported $1.05 EPS for the quarter, topping the consensus estimate of $0.72 by $0.33. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $929.99 million. CNO Financial Group had a return on equity of 18.30% and a net margin of 9.96%. The company's quarterly revenue was up 4.2% on a year-over-year basis. During the same period last year, the business posted $0.54 earnings per share. On average, equities analysts predict that CNO Financial Group, Inc. will post 3.43 earnings per share for the current year.

CNO Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 24th. Stockholders of record on Tuesday, September 10th were given a dividend of $0.16 per share. The ex-dividend date was Tuesday, September 10th. This represents a $0.64 annualized dividend and a dividend yield of 1.79%. CNO Financial Group's dividend payout ratio is presently 18.66%.

Insider Activity at CNO Financial Group

In other CNO Financial Group news, insider Jeanne L. Linnenbringer sold 5,435 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $34.26, for a total transaction of $186,203.10. Following the sale, the insider now directly owns 37,663 shares in the company, valued at $1,290,334.38. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other CNO Financial Group news, insider Jeanne L. Linnenbringer sold 5,435 shares of the company's stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $34.26, for a total transaction of $186,203.10. Following the sale, the insider now owns 37,663 shares in the company, valued at $1,290,334.38. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jeanne L. Linnenbringer sold 5,364 shares of CNO Financial Group stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $34.88, for a total value of $187,096.32. Following the completion of the transaction, the insider now owns 44,884 shares of the company's stock, valued at $1,565,553.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.00% of the company's stock.

Institutional Investors Weigh In On CNO Financial Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Victory Capital Management Inc. grew its stake in shares of 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 purchasing an additional 637,254 shares during the last quarter. American Century Companies Inc. lifted its position in CNO Financial Group by 19.4% in the second quarter. American Century Companies Inc. now owns 2,117,416 shares of the financial services provider's stock valued at $58,695,000 after purchasing an additional 343,819 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings 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 purchasing an additional 306,751 shares in the last quarter. Denali Advisors LLC boosted its holdings in CNO Financial Group by 725.0% in the 2nd quarter. Denali Advisors LLC now owns 231,000 shares of the financial services provider's stock valued at $6,403,000 after purchasing an additional 203,000 shares in the last quarter. Finally, Squarepoint Ops LLC increased its position in CNO Financial Group by 346.9% during the 2nd quarter. Squarepoint Ops LLC now owns 197,648 shares of the financial services provider's stock worth $5,479,000 after purchasing an additional 153,424 shares during the period. 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.