We'd be surprised if CNO Financial Group, Inc. (NYSE:CNO) shareholders haven't noticed that the Director, Frederick Sievert, recently sold US$150k worth of stock at US$15.94 per share. That sale was 15.6% of their holding, so it does make us raise an eyebrow.
The Last 12 Months Of Insider Transactions At CNO Financial Group
The Executive VP & General Counsel, Matthew Zimpfer, made the biggest insider sale in the last 12 months. That single transaction was for US$322k worth of shares at a price of US$18.46 each. So what is clear is that an insider saw fit to sell at around the current price of US$15.93. While insider selling is a negative, to us, it is more negative if the shares are sold at a lower price. Given that the sale took place at around current prices, it makes us a little cautious but is hardly a major concern.
In the last twelve months insiders purchased 12000 shares for US$194k. But they sold 57999 for US$982k. In total, CNO Financial Group insiders sold more than they bought over the last year. You can see the insider transactions (by individuals) over the last year depicted in the chart below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
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Insider Ownership of CNO Financial Group
I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. We usually like to see fairly high levels of insider ownership. CNO Financial Group insiders own about US$31m worth of shares. That equates to 1.3% of the company. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.
So What Do The CNO Financial Group Insider Transactions Indicate?
An insider hasn't bought CNO Financial Group stock in the last three months, but there was some selling. And our longer term analysis of insider transactions didn't bring confidence, either. Insider ownership isn't particularly high, so this analysis makes us cautious about the company. We'd think twice before buying! If you are like me, you may want to think about whether this company will grow or shrink. Luckily, you can check this free report showing analyst forecasts for its future.
Of course CNO Financial Group may not be the best stock to buy. So you may wish to see this free collection of high quality companies.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.
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