Connor Clark & Lunn Investment Management Ltd. Lowers Stake in CNO Financial Group, Inc. (NYSE:CNO)

Connor Clark & Lunn Investment Management Ltd. trimmed its stake in shares of CNO Financial Group, Inc. (NYSE:CNO - Free Report) by 79.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,308 shares of the financial services provider's stock after selling 115,276 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in CNO Financial Group were worth $1,029,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CNO. Price T Rowe Associates Inc. MD grew its stake in shares of CNO Financial Group by 5.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 80,995 shares of the financial services provider's stock valued at $2,226,000 after purchasing an additional 4,304 shares during the period. Bayesian Capital Management LP bought a new stake in CNO Financial Group during the first quarter valued at approximately $203,000. First Financial Bank Trust Division purchased a new stake in CNO Financial Group during the second quarter valued at approximately $343,000. Harbor Capital Advisors Inc. raised its position in CNO Financial Group by 269.9% in the second quarter. Harbor Capital Advisors Inc. now owns 13,884 shares of the financial services provider's stock worth $385,000 after acquiring an additional 10,131 shares during the period. Finally, CWM LLC raised its position in CNO Financial Group by 64.1% in the second quarter. CWM LLC now owns 1,144 shares of the financial services provider's stock worth $32,000 after acquiring an additional 447 shares during the period. Institutional investors own 95.43% of the company's stock.

CNO Financial Group Price Performance

Shares of CNO Financial Group stock traded down $0.34 during trading hours on Thursday, hitting $40.16. The company's stock had a trading volume of 349,878 shares, compared to its average volume of 735,058. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.19 and a current ratio of 0.19. The business has a 50 day moving average price of $36.42 and a two-hundred day moving average price of $32.44. CNO Financial Group, Inc. has a 12-month low of $24.92 and a 12-month high of $40.91. The company has a market cap of $4.14 billion, a PE ratio of 16.19 and a beta of 1.01.

CNO Financial Group (NYSE:CNO - Get Free Report) last posted its earnings results on Thursday, October 31st. The financial services provider reported $1.11 EPS for the quarter, topping analysts' consensus estimates of $0.82 by $0.29. CNO Financial Group had a return on equity of 17.53% and a net margin of 6.06%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $945.44 million. During the same period in the previous year, the business earned $0.88 earnings per share. The firm's revenue for the quarter was up 19.2% on a year-over-year basis. Analysts expect that CNO Financial Group, Inc. will post 3.73 earnings per share for the current fiscal year.

CNO Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 10th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.59%. CNO Financial Group's dividend payout ratio (DPR) is presently 25.81%.

Insider Activity

In other CNO Financial Group news, CIO Eric R. Johnson sold 3,978 shares of the company's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $39.09, for a total value of $155,500.02. Following the completion of the sale, the executive now directly owns 631,844 shares in the company, valued at approximately $24,698,781.96. This represents a 0.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeanne L. Linnenbringer sold 5,364 shares of the firm's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $34.88, for a total value of $187,096.32. Following the transaction, the insider now owns 44,884 shares in the company, valued at approximately $1,565,553.92. This represents a 10.68 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,560 shares of company stock worth $720,550. 3.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CNO has been the subject of several analyst reports. Evercore ISI upped their price objective on CNO Financial Group from $27.00 to $29.00 and gave the stock an "underperform" rating in a research note on Wednesday, July 31st. Piper Sandler lifted their price objective on CNO Financial Group from $37.00 to $38.00 and gave the company an "overweight" rating in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada increased their target price on shares of CNO Financial Group from $38.00 to $40.00 and gave the stock an "outperform" rating in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $34.50.

CNO Financial Group Profile

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.