Gary Bhojwani, a prominent business figure known for his extensive experience in the insurance industry, has been making waves as the Chief Executive Officer of CNO Financial Group Inc. With a career that spans over several decades and a portfolio of leadership roles in various companies, Mr. Bhojwani’s recent stock sales have caught the attention of investors and industry experts alike.
A Storied Career of Gary Bhojwani
Gary Bhojwani’s career is a testament to his leadership prowess. Gary Bhojwani founded Avalon Risk Management, Inc. and Gcb LLC and has served as the head of an impressive 13 different companies. His current roles include being the Chief Executive Officer & Director at CNO Financial Group, Inc., Chairman for AZOA Services Corp., and President & Chief Executive Officer of Munich Re US Life Corp.
Mr. Bhojwani’s career highlights also include past positions such as Chief Executive Officer of Allianz Life Insurance Company of North America and President-Commercial Business at Fireman’s Fund Insurance Co. His educational background is equally impressive, with an undergraduate degree from the University of Illinois and an MBA from The University of Chicago.
Leading CNO Financial Group Inc.
Gary Bhojwani assumed the role of Chief Executive Officer of CNO Financial Group on January 1, 2018, after being elected as a director in May 2017. During his tenure, he has played a pivotal role in shaping the company’s strategic direction and overall performance.
As President of CNO Financial from April 2016 to December 2017, he oversaw key business units, including Bankers Life, Colonial Penn, and Washington National.
Recent Stock Sales
One aspect of Mr. Bhojwani’s recent activity that has garnered significant attention is his stock sales in CNO Financial Group Inc. Over the past year, he has sold a total of 21,739 shares, with no reported purchases during the same period. This pattern aligns with the broader insider transaction history of the company, which shows more insider sells than buys.
The insider’s selling activity can be interpreted in various ways. While it could be driven by personal financial decisions, it may also signal the insider’s sentiment about the company’s future prospects. Investors are advised to consider this consistent selling by the CEO over the past year as a potential cautionary signal.
Valuation and Outlook
On the day of Mr. Bhojwani’s most recent sale, CNO Financial Group Inc. shares were trading at $23, with a market cap of $2.62 billion. The price-earnings ratio was slightly below the industry median but higher than the company’s historical median.
Despite this, the GuruFocus Value, which assesses intrinsic value based on various factors, suggests that the stock is modestly undervalued, with a GF Value of $26.38 and a price-to-GF-Value ratio of 0.87.
In conclusion, Gary C. Bhojwani’s recent stock sales have brought attention to CNO Financial Group Inc. While the company appears to be undervalued according to GuruFocus Value, the consistent insider selling activity should prompt investors to exercise caution. As with any investment decision, it is essential to consider a wide range of financial indicators and market conditions.
Gary Bhojwani’s Net Worth
As of September 19, 2023, Gary C. Bhojwani’s estimated net worth stands at least $12.8 million. His holdings include over 20,833 units of CNO Inc stock worth over $4,981,064. Over the past nine years, he has also sold CNO stock worth over $999,989. In addition to his stock holdings, he earns $6,792,820 as Chief Executive Officer and Director at CNO Inc.
Insider Trading Activity
Gary Bhojwani has been involved in insider trading activity at CNO Inc, with over four trades recorded since 2020. His most recent trade was selling 20,833 units of CNO stock worth $499,992 on September 19, 2023. Notably, he exercised 90,600 units of CNO Inc stock on May 11, 2021, worth over $1,669,758.
On average, Mr. Bhojwani engages in trades of about 3,562 units every 30 days since 2014, and as of September 19, 2023, he still holds at least 211,600 units of CNO Inc stock.
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