CNO Financial Group, Inc. (NYSE:CNO) Sees Large Increase in Short Interest

CNO Financial Group, Inc. (NYSE:CNOGet Free Report) saw a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 2,830,000 shares, an increase of 5.2% from the February 29th total of 2,690,000 shares. Approximately 2.7% of the shares of the company are sold short. Based on an average daily trading volume, of 762,300 shares, the days-to-cover ratio is presently 3.7 days.

Insider Buying and Selling

In related news, insider Scott L. Goldberg sold 7,325 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $26.65, for a total value of $195,211.25. Following the transaction, the insider now owns 178,295 shares of the company’s stock, valued at $4,751,561.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other CNO Financial Group news, EVP Yvonne K. Franzese sold 7,214 shares of CNO Financial Group stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $27.43, for a total transaction of $197,880.02. Following the transaction, the executive vice president now owns 46,632 shares of the company’s stock, valued at $1,279,115.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott L. Goldberg sold 7,325 shares of CNO Financial Group stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $26.65, for a total transaction of $195,211.25. Following the transaction, the insider now directly owns 178,295 shares in the company, valued at approximately $4,751,561.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 149,812 shares of company stock valued at $4,040,971. 3.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Raymond James & Associates boosted its stake in shares of CNO Financial Group by 11.5% during the first quarter. Raymond James & Associates now owns 60,846 shares of the financial services provider’s stock valued at $1,527,000 after purchasing an additional 6,281 shares during the period. Bank of Montreal Can boosted its stake in shares of CNO Financial Group by 191.0% during the first quarter. Bank of Montreal Can now owns 36,666 shares of the financial services provider’s stock valued at $936,000 after purchasing an additional 24,066 shares during the period. MetLife Investment Management LLC boosted its stake in shares of CNO Financial Group by 38.3% during the first quarter. MetLife Investment Management LLC now owns 141,090 shares of the financial services provider’s stock valued at $3,540,000 after purchasing an additional 39,101 shares during the period. Panagora Asset Management Inc. purchased a new stake in shares of CNO Financial Group during the first quarter valued at $1,142,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of CNO Financial Group by 7.9% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 44,125 shares of the financial services provider’s stock valued at $1,107,000 after purchasing an additional 3,241 shares during the period. 95.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CNO. Evercore ISI lifted their price target on shares of CNO Financial Group from $26.00 to $27.00 and gave the company an “underperform” rating in a report on Wednesday, February 28th. StockNews.com downgraded shares of CNO Financial Group from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Royal Bank of Canada lifted their price target on shares of CNO Financial Group from $29.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $25.80.

View Our Latest Report on CNO

CNO Financial Group Trading Up 0.1 %

CNO Financial Group stock opened at $26.93 on Thursday. The stock has a market cap of $2.94 billion, a P/E ratio of 11.17 and a beta of 1.03. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.19 and a quick ratio of 0.19. CNO Financial Group has a 1 year low of $19.95 and a 1 year high of $28.39. The firm’s 50 day moving average price is $26.96 and its 200-day moving average price is $26.00.

CNO Financial Group (NYSE:CNOGet Free Report) last announced its quarterly earnings results on Tuesday, February 6th. The financial services provider reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.33. CNO Financial Group had a net margin of 6.67% and a return on equity of 17.51%. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $934.05 million. On average, equities analysts predict that CNO Financial Group will post 3.19 earnings per share for the current fiscal year.

CNO Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.23%. The ex-dividend date was Thursday, March 7th. CNO Financial Group’s payout ratio is 24.90%.

CNO Financial Group Company Profile

(Get Free Report)

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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