CNO Financial Group (NYSE:CNO) Sets New 52-Week High – What’s Next?

CNO Financial Group, Inc. (NYSE:CNO) shares hit a new 52-week high on Thursday . The company traded as high as $49.95 and last traded at $49.6760, with a volume of 652199 shares changing hands. The stock had previously closed at $48.70.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Evercore set a $48.00 price objective on shares of CNO Financial Group and gave the company an “in-line” rating in a report on Monday, June 1st. Keefe, Bruyette & Woods lifted their price objective on shares of CNO Financial Group from $46.00 to $50.00 and gave the company a “market perform” rating in a report on Tuesday, May 5th. Wall Street Zen lowered shares of CNO Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of CNO Financial Group in a report on Monday, April 20th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.75.

CNO Financial Group Stock Performance

The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.17 and a current ratio of 0.17. The firm has a market cap of $4.64 billion, a P/E ratio of 19.95 and a beta of 0.81. The firm’s fifty day moving average price is $45.04 and its 200 day moving average price is $42.95.

CNO Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 10th will be issued a $0.18 dividend. The ex-dividend date is Wednesday, June 10th. This represents a $0.72 annualized dividend and a dividend yield of 1.4%. This is an increase from CNO Financial Group’s previous quarterly dividend of $0.17. CNO Financial Group’s dividend payout ratio (DPR) is presently 27.31%.

Insider Activity at CNO Financial Group

In other news, insider Scott L. Goldberg sold 11,060 shares of the business’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $39.97, for a total value of $442,068.20. Following the completion of the sale, the insider owned 214,524 shares in the company, valued at approximately $8,574,524.28. The trade was a 4.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.44% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Optiver Holding B.V. raised its stake in shares of CNO Financial Group by 90.1% during the 3rd quarter. Optiver Holding B.V. now owns 637 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 302 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of CNO Financial Group by 353.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 743 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 579 shares in the last quarter. Richardson Financial Services Inc. bought a new position in shares of CNO Financial Group during the 4th quarter worth approximately $37,000. EverSource Wealth Advisors LLC raised its stake in shares of CNO Financial Group by 123.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,176 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 649 shares in the last quarter. Finally, Bessemer Group Inc. raised its stake in shares of CNO Financial Group by 75.4% during the 1st quarter. Bessemer Group Inc. now owns 1,133 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 487 shares in the last quarter. Institutional investors own 95.43% of the company’s stock.

About CNO Financial Group

CNO Financial Group is an Indiana?based holding company that offers a range of insurance and retirement solutions through its operating subsidiaries. Its primary business activities include life insurance, annuities, and supplemental health insurance products designed to help individuals plan for retirement and manage health?related expenses. The company serves middle?income Americans, with particular emphasis on senior customers seeking guaranteed coverage and reliable income streams.

Originally founded as Conseco in 1979, the company underwent a financial restructuring and rebranded as CNO Financial Group in 2010.