Trade Alert: The Independent Director Of CNO Financial Group, Inc. (NYSE:CNO), Charles Jacklin, Has Sold Some Shares Recently
We'd be surprised if CNO Financial Group, Inc. (NYSE:CNO) shareholders haven't noticed that the Independent Director, Charles Jacklin, recently sold US$288k worth of stock at US$21.00 per share. That sale was 25% of their holding, so it does make us raise an eyebrow.
Check out our latest analysis for CNO Financial Group
CNO Financial Group Insider Transactions Over The Last Year
Notably, that recent sale by Charles Jacklin is the biggest insider sale of CNO Financial Group shares that we've seen in the last year. So what is clear is that an insider saw fit to sell at around the current price of US$20.80. While we don't usually like to see insider selling, it's more concerning if the sales take place at a lower price. We note that this sale took place at around the current price, so it isn't a major concern, though it's hardly a good sign.
In the last twelve months insiders purchased 62.76k shares for US$652k. On the other hand they divested 27.11k shares, for US$515k. In the last twelve months there was more buying than selling by CNO Financial Group insiders. They paid about US$10.38 on average. To my mind it is good that insiders have invested their own money in the company. However, we do note that they were buying at significantly lower prices than today's share price. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of growing companies that insiders are buying.
Insider Ownership of CNO Financial Group
Many investors like to check how much of a company is owned by insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. Insiders own 1.2% of CNO Financial Group shares, worth about US$34m. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.
What Might The Insider Transactions At CNO Financial Group Tell Us?
The insider sales have outweighed the insider buying, at CNO Financial Group, in the last three months. In contrast, they appear keener if you look at the last twelve months. And insiders do own shares. So the recent selling doesn't worry us too much. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. To help with this, we've discovered 4 warning signs (2 are significant!) that you ought to be aware of before buying any shares in CNO Financial Group.
If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.
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.
This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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