CNO Financial Group (NYSE:CNO) CEO Gary Bhojwani Sells 86,048 Shares of Stock

CNO Financial Group, Inc. (NYSE:CNO) CEO Gary Bhojwani sold 86,048 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $51.48, for a total transaction of $4,429,751.04. Following the completion of the sale, the chief executive officer directly owned 174,264 shares of the company’s stock, valued at approximately $8,971,110.72. This represents a 33.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CNO Financial Group Stock Up 0.5%

NYSE:CNO opened at $52.35 on Friday. The stock’s fifty day moving average price is $47.94 and its two-hundred day moving average price is $44.16. CNO Financial Group, Inc. has a 52-week low of $35.24 and a 52-week high of $53.03. 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 company has a market cap of $4.89 billion, a price-to-earnings ratio of 21.03 and a beta of 0.81.

CNO Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 10th were given a dividend of $0.18 per share. This is an increase from CNO Financial Group’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Wednesday, June 10th. CNO Financial Group’s payout ratio is currently 28.92%.

Institutional Trading of CNO Financial Group

A number of hedge funds have recently made changes to their positions in the business. Versant Capital Management Inc boosted its stake in shares of CNO Financial Group by 72.0% during the 2nd quarter. Versant Capital Management Inc now owns 1,132 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 474 shares during the period. First Financial Bank Trust Division lifted its holdings in CNO Financial Group by 21.3% during the 2nd quarter. First Financial Bank Trust Division now owns 20,337 shares of the financial services provider’s stock valued at $1,037,000 after purchasing an additional 3,574 shares during the last quarter. Empowered Funds LLC acquired a new stake in CNO Financial Group during the 1st quarter valued at $570,000. Glenmede Trust Co. NA acquired a new stake in CNO Financial Group during the 1st quarter valued at $201,000. Finally, Cim Investment Management Inc. boosted its position in CNO Financial Group by 18.8% during the first quarter. Cim Investment Management Inc. now owns 13,301 shares of the financial services provider’s stock worth $546,000 after purchasing an additional 2,109 shares during the period. 95.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

CNO Financial Group Company Profile

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.