CNO Financial Group, Inc. (NYSE:CNO) reported that Karen DeToro, the company's President of the Worksite Division, sold shares of the company's stock on the open market. The transaction, which took place on March 26, involved the sale of 1,307 shares at an average price of $26.94, totaling approximately $35,210.
This sale was conducted under a Rule 10b5-1 trading plan, which allows company insiders to set up a predetermined plan to sell stocks at a time when they are not in possession of material non-public information. The plan was adopted on December 20, 2023, suggesting that the sale was pre-planned and not based on any recent developments within the company.
In addition to the sale, it was reported that on March 25, DeToro surrendered 2,701 shares of CNO Financial stock valued at $26.86 per share to cover required tax withholding on vested restricted stock units. The total value of the shares surrendered amounted to approximately $72,548.
After these transactions, DeToro still owns a significant amount of company stock, with 75,049 shares remaining in her possession. The recent filings provide transparency into the trading activities of CNO Financial's executives and are a routine part of corporate governance.
Investors and market watchers often monitor insider transactions as they can provide insights into an executive's view of the company's future prospects. However, it is important to note that trading activities by executives can be influenced by a variety of factors and may not necessarily indicate the executive's specific outlook on the company's performance.
InvestingPro Insights
Amidst the insider trading activities at CNO Financial Group, Inc. (NYSE:CNO), investors may be seeking additional data to better understand the company's current financial standing and future prospects. Here are some key metrics from InvestingPro that provide a snapshot of CNO's performance:
- The company boasts a Market Cap of approximately $2.99 billion USD, reflecting its significant presence in the market.
- CNO Financial's P/E Ratio stands at a competitive 11.17, with an adjusted P/E Ratio for the last twelve months as of Q4 2023 at an even more attractive 10.8.
- Revenue growth has been robust, with a 15.94% increase over the last twelve months as of Q4 2023, indicating a strong upward trend in the company's earnings.
Adding to the company's appeal, one of the InvestingPro Tips reveals that CNO Financial has raised its dividend for 12 consecutive years, demonstrating a commitment to returning value to shareholders. Additionally, the company has maintained dividend payments for 13 consecutive years, highlighting its financial stability and reliability as a dividend-paying stock.
For those interested in a deeper dive into CNO Financial's performance and potential investment opportunities, there are additional InvestingPro Tips available. Subscribers can access a wealth of information, including earnings revisions by analysts and liquidity assessments. To maximize the benefits, users can apply the coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With these insights, investors can make more informed decisions regarding their investment in CNO Financial Group.
For further details and comprehensive analysis, visit InvestingPro, where a total of 7 InvestingPro Tips are waiting to guide you through the intricacies of CNO Financial's stock performance and projections.
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