CNO Financial (NYSE:CNO) Group, Inc.'s (NYSE:CNO) Chief Human Resources Officer (CHRO), Yvonne K. Franzese, has sold a significant amount of company stock, according to a recent filing with the Securities and Exchange Commission. The transaction, which took place on May 9, involved the sale of 15,021 shares at a price of $28.25 each, totaling approximately $424,343.
This sale was executed under a Rule 10b5-1 trading plan, which was adopted on December 21, 2023. Such plans allow company insiders to set up a prearranged plan to sell stocks at a predetermined time to avoid accusations of insider trading. It is worth noting that despite this sale, Franzese still holds a substantial number of shares in the company, with direct ownership of 31,611 shares following the transaction.
Additionally, Franzese has indirect ownership through the Yvonne K. Franzese Revocable Trust, which holds 72,741 shares of CNO Financial Group, Inc. stock.
CNO Financial Group, Inc., with its headquarters in Carmel, Indiana, operates within the accident and health insurance industry. The company, formerly known as Conseco Inc., has undergone a name change since its inception and continues to be a significant player in the financial services sector.
Investors and market watchers often keep a close eye on insider transactions as they can provide insights into the company's financial health and the confidence level of its top executives. The recent sale by CNO Financial's CHRO will likely be of interest to those following the company's stock performance and insider activity.
InvestingPro Insights
CNO Financial Group, Inc. (NYSE:CNO) has been showing a robust financial performance with several positive indicators that may interest investors. The company has a market capitalization of $3.05 billion, reflecting its substantial presence in the accident and health insurance industry. Its Price-to-Earnings (P/E) ratio stands at a value-oriented 7.82 when adjusted for the last twelve months as of Q1 2024, suggesting that the stock may be attractively priced relative to its earnings.
The company's commitment to shareholder returns is evident through its consistent dividend payments. Notably, CNO Financial has raised its dividend for 12 consecutive years and has maintained dividend payments for 13 consecutive years. This track record is a testament to the company's stable cash flow and prudent financial management. In fact, the dividend yield as of the latest data stands at 2.26%, coupled with a dividend growth of 14.29% over the last twelve months as of Q1 2024, which could be appealing for income-seeking investors.
Another key metric is the company's revenue growth, which at 14.9% over the last twelve months as of Q1 2024, indicates a strong upward trajectory. This is supported by a solid gross profit margin of 41.96%, highlighting the company's efficiency in managing its cost of goods sold and maintaining profitability.
For those interested in further insights and detailed analysis, there are additional InvestingPro Tips available. These tips include the company's share buyback activities, its trading position near a 52-week high, and the analysts' profitability predictions for the year. To access these tips and more, visit InvestingPro and consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With 7 more tips listed in InvestingPro, investors can gain a comprehensive understanding of CNO Financial's potential investment value.
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