CNO Financial Group (NYSE:CNO) Reaches New 1-Year High – Still a Buy?

CNO Financial Group, Inc. (NYSE:CNO) reached a new 52-week high on Tuesday . The company traded as high as $35.69 and last traded at $35.63, with a volume of 22019 shares traded. The stock had previously closed at $35.39.

Wall Street Analyst Weigh In

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

CNO Financial Group Price Performance

The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 1.66. The company has a market cap of $3.93 billion, a price-to-earnings ratio of 10.57 and a beta of 1.01. The stock’s 50-day simple moving average is $33.88 and its 200 day simple moving average is $30.17.

CNO Financial Group (NYSE:CNO) last issued its quarterly earnings data 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. CNO Financial Group had a net margin of 9.96% and a return on equity of 18.30%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $929.99 million. During the same period in the prior year, the business posted $0.54 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities research analysts anticipate that CNO Financial Group, Inc. will post 3.43 EPS for the current fiscal year.

CNO Financial Group Dividend Announcement

The company 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 1.77%. CNO Financial Group’s dividend payout ratio is currently 18.66%.

Insider Activity at CNO Financial Group

In related news, insider Jeanne L. Linnenbringer sold 5,435 shares of the firm’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 completion of the transaction, the insider now directly owns 37,663 shares in the company, valued at $1,290,334.38. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other CNO Financial Group news, insider Jeanne L. Linnenbringer sold 5,435 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $34.26, for a total value of $186,203.10. Following the completion of the transaction, the insider now owns 37,663 shares in the company, valued at $1,290,334.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jeanne L. Linnenbringer sold 5,364 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $34.88, for a total value of $187,096.32. Following the sale, the insider now directly owns 44,884 shares in the company, valued at $1,565,553.92. This represents 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.

Hedge Funds Weigh In On CNO Financial Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. CWM LLC raised its holdings in CNO Financial Group by 64.1% in the second quarter. CWM LLC now owns 1,144 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 447 shares in the last quarter. Quarry LP increased its position in shares of CNO Financial Group by 123.2% in the 2nd quarter. Quarry LP now owns 1,694 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 935 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in shares of CNO Financial Group in the 1st quarter valued at $52,000. GAMMA Investing LLC lifted its position in shares of CNO Financial Group by 141.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,985 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 1,164 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of CNO Financial Group by 25.4% during the second quarter. Blue Trust Inc. now owns 2,384 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 483 shares in the last quarter. Hedge funds and other institutional investors own 95.43% of the company’s stock.

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.