Bank of New York Mellon Corp lowered its stake in shares of CNO Financial Group, Inc. (NYSE:CNO - Free Report) by 11.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,037,287 shares of the financial services provider's stock after selling 130,944 shares during the period. Bank of New York Mellon Corp owned 1.01% of CNO Financial Group worth $38,597,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Principal Securities Inc. increased its position in CNO Financial Group by 51.6% in the fourth quarter. Principal Securities Inc. now owns 955 shares of the financial services provider's stock worth $36,000 after buying an additional 325 shares during the last quarter. Sound Income Strategies LLC bought a new stake in shares of CNO Financial Group in the fourth quarter valued at approximately $54,000. GAMMA Investing LLC raised its position in shares of CNO Financial Group by 15.3% in the fourth quarter. GAMMA Investing LLC now owns 2,289 shares of the financial services provider's stock valued at $85,000 after purchasing an additional 304 shares during the period. KBC Group NV lifted its stake in shares of CNO Financial Group by 26.7% during the 3rd quarter. KBC Group NV now owns 3,349 shares of the financial services provider's stock valued at $118,000 after buying an additional 706 shares in the last quarter. Finally, Connable Office Inc. bought a new position in CNO Financial Group in the 3rd quarter worth approximately $207,000. Institutional investors own 95.43% of the company's stock.
CNO Financial Group Trading Down 2.2 %
Shares of CNO traded down $0.86 during mid-day trading on Monday, reaching $38.60. The company's stock had a trading volume of 677,622 shares, compared to its average volume of 651,722. The company has a current ratio of 0.22, a quick ratio of 0.19 and a debt-to-equity ratio of 1.61. The stock has a market cap of $3.89 billion, a PE ratio of 10.32 and a beta of 1.02. The company's fifty day moving average price is $39.43 and its two-hundred day moving average price is $37.36. CNO Financial Group, Inc. has a 52 week low of $24.92 and a 52 week high of $42.41.
CNO Financial Group (NYSE:CNO - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.06 by $0.25. CNO Financial Group had a return on equity of 17.20% and a net margin of 9.08%. On average, analysts predict that CNO Financial Group, Inc. will post 3.83 earnings per share for the current fiscal year.
CNO Financial Group Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Monday, March 10th. CNO Financial Group's dividend payout ratio is 17.11%.
Insider Buying and Selling
In related news, CMO Rocco F. Tarasi III sold 4,500 shares of the firm's stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $37.51, for a total value of $168,795.00. Following the sale, the chief marketing officer now directly owns 72,896 shares of the company's stock, valued at $2,734,328.96. This trade represents a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Matthew J. Zimpfer sold 40,800 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $41.49, for a total value of $1,692,792.00. Following the transaction, the general counsel now directly owns 244,943 shares of the company's stock, valued at $10,162,685.07. The trade was a 14.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 138,584 shares of company stock valued at $5,597,404 over the last three months. 3.00% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on CNO shares. BMO Capital Markets assumed coverage on CNO Financial Group in a research note on Thursday, January 23rd. They set a "market perform" rating and a $38.00 price objective on the stock. Jefferies Financial Group upped their price target on CNO Financial Group from $36.00 to $41.00 and gave the company a "hold" rating in a research report on Tuesday, December 10th. Piper Sandler reissued an "overweight" rating and issued a $46.00 price target (up from $44.00) on shares of CNO Financial Group in a report on Monday, February 10th. Royal Bank of Canada boosted their price target on shares of CNO Financial Group from $40.00 to $45.00 and gave the company an "outperform" rating in a research report on Monday, February 10th. Finally, Keefe, Bruyette & Woods upped their target price on CNO Financial Group from $42.00 to $44.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $40.50.
View Our Latest Stock Analysis on CNO
About CNO Financial Group
(
Free Report)
CNO Financial Group, Inc, through its subsidiaries, develops, markets, and administers health insurance, annuity, individual life insurance, insurance products, and financial services for senior and middle-income markets in the United States. It offers Medicare supplement, supplemental health, and long-term care insurance policies; life insurance; and annuities, as well as Medicare advantage plans to individuals through phone, online, mail, and face-to-face.
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