Insider Trading Alert: CNO Financial Group President Sells $320,000 Worth of Stock
In a strategic move, DeToro Karen, President of the Worksite Division at CNO Financial Group, Inc. (NYSE:), recently sold a substantial amount of company stock, totaling over $320,000. The transactions, executed between September 3 and September 5, were part of a prearranged trading plan to avoid accusations of insider trading.
The stock sales were conducted at varying prices, ranging from $34.6075 to $34.885 per share. DeToro Karen sold multiple batches of shares during this period, reducing her stake in the company to 60,335 shares. These insider sales can provide valuable insights into executives' perspectives on the company's valuation and prospects.
In addition to the insider trading activity, CNO Financial Group reported a significant increase in its Q2 2024 financial performance, with operating earnings per diluted share rising by 94% to $1.05. The company has also raised its full-year guidance for operating earnings per share and excess cash flow, reflecting its strategic focus on the middle-income market and strong investment results.
Meanwhile, several Wall Street firms have agreed to pay hefty settlements to U.S. regulators for violations of recordkeeping rules. These developments underscore the importance of compliance in the financial sector.
InvestingPro Insights:
- Market cap: $3.62 billion
- P/E ratio: 8.73
- Revenue growth: 11.08% over the last twelve months
- Gross profit margin: 42.83%
- Return: 50.6% over the past year
InvestingPro Tips:
- CNO Financial's management actively engages in share buybacks
- The company has raised its dividend for 12 consecutive years
- Revenue growth and profitability metrics are strong
For more in-depth analysis and tips on CNO Financial Group, visit InvestingPro for valuable insights that can help you make informed investment decisions.
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