Bitcoin price today: dips below $112k, near 6-wk low despite Fed cut bets
Gary C. Bhojwani, the Chief Executive Officer of CNO Financial Group, Inc. (NYSE:CNO), recently sold a significant portion of his shares in the company. According to a recent SEC filing, Bhojwani sold a total of 60,122 shares over two days, amounting to approximately $2.47 million. The shares were sold at prices ranging from $40.9811 to $41.0175 per share. The transaction comes as CNO’s stock has delivered an impressive 60% return over the past year, with the company maintaining a healthy P/E ratio of 10.7. According to InvestingPro, CNO’s current market capitalization stands at $4.1 billion.
The sales were executed under a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined schedule for selling stocks. Following these transactions, Bhojwani holds 304,819 shares directly. Additionally, he holds 700,587 shares indirectly through the Gary C. Bhojwani Revocable Trust.
These transactions provide insight into the trading activities of CNO Financial’s top executive, reflecting a strategic move as part of his financial planning.
In other recent news, CNO Financial Group has been in the spotlight for several developments. The company recently reported impressive quarterly results, surpassing expectations with strong performance across its segments. This growth was attributed to an increase in agent numbers, new product introductions, geographic expansion, and progress in its Worksite business. Additionally, CNO Financial benefited from strong net investment income, driven by higher new money yields and a rise in invested asset balances.
RBC Capital Markets responded to these developments by raising CNO Financial’s price target from $40 to $45, while maintaining an Outperform rating. Analyst Scott Heleniak highlighted the company’s successful year-end performance and a proactive approach to capital return as key factors. In another development, Optavise, a subsidiary of CNO Financial, launched Optavise Clear, a new service aimed at simplifying the employee benefits experience. This service offers personalized guidance and year-round support to enhance employee satisfaction and reduce frustration. These recent developments underscore CNO Financial’s strategic initiatives and potential for sustained growth.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.