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Matthew J. Zimpfer, General Counsel at CNO Financial Group, Inc. (NYSE:CNO), which has seen its stock surge over 51% in the past year and maintains a healthy financial profile according to InvestingPro data, recently executed significant stock sales, according to a recent SEC filing. On February 19 and February 21, Zimpfer sold a total of 81,600 shares of common stock. These transactions, which were carried out under a pre-established Rule 10b5-1 trading plan, were completed at weighted average prices ranging from $40.105 to $41.4926 per share. The sales amounted to a total value of approximately $3.33 million. Following these transactions, Zimpfer retains ownership of 204,143 shares in the company. The stock currently trades at an attractive P/E ratio of 10.4x and appears fairly valued based on InvestingPro’s comprehensive Fair Value analysis, which considers multiple valuation metrics and growth factors.
In other recent news, CNO Financial Group reported impressive quarterly results, exceeding expectations with strong performance across its segments. The company experienced notable top-line growth, driven by an increase in agent numbers, the introduction of new products, geographic expansion, and advancements in its Worksite business. Additionally, CNO Financial benefited from a robust net investment income, supported 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, maintaining an Outperform rating. Analyst Scott Heleniak from RBC highlighted the company’s successful year-end performance and proactive capital return strategy. Looking ahead, CNO Financial has set a conservative yet achievable earnings per share guidance for 2025, with plans to improve its return on equity by 150 basis points over the next three years. RBC Capital’s continued confidence in CNO Financial is reflected in its raised price target, emphasizing the potential for sustained growth and capital returns.
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