Cornercap Investment Counsel Inc. Trims Stock Position in CNO Financial Group, Inc. (NYSE:CNO)

Cornercap Investment Counsel Inc. trimmed its position in shares of CNO Financial Group, Inc. (NYSE:CNO - Free Report) by 46.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,364 shares of the financial services provider's stock after selling 9,025 shares during the quarter. Cornercap Investment Counsel Inc.'s holdings in CNO Financial Group were worth $386,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Pictet Asset Management Holding SA boosted its stake in shares of CNO Financial Group by 25.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 16,221 shares of the financial services provider's stock valued at $604,000 after purchasing an additional 3,276 shares during the period. New Age Alpha Advisors LLC acquired a new stake in CNO Financial Group during the 4th quarter worth approximately $118,000. Norges Bank purchased a new position in CNO Financial Group in the 4th quarter valued at approximately $13,975,000. JPMorgan Chase & Co. grew its stake in shares of CNO Financial Group by 41.3% in the fourth quarter. JPMorgan Chase & Co. now owns 1,274,370 shares of the financial services provider's stock worth $47,419,000 after acquiring an additional 372,701 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in shares of CNO Financial Group during the fourth quarter worth $431,000. 95.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CNO Financial Group

In other news, General Counsel Matthew J. Zimpfer sold 40,800 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $41.49, for a total value of $1,692,792.00. Following the completion of the sale, the general counsel now directly owns 244,943 shares of the company's stock, valued at approximately $10,162,685.07. This represents a 14.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Yvonne K. Franzese sold 8,109 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $42.00, for a total transaction of $340,578.00. Following the transaction, the insider now owns 38,540 shares in the company, valued at approximately $1,618,680. This trade represents a 17.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 159,512 shares of company stock valued at $6,497,710 in the last three months. 3.00% of the stock is currently owned by company insiders.

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CNO Financial Group Stock Down 6.0 %

CNO Financial Group stock traded down $2.53 during mid-day trading on Thursday, hitting $39.84. The company had a trading volume of 183,927 shares, compared to its average volume of 705,304. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of 10.65 and a beta of 1.02. The company has a quick ratio of 0.19, a current ratio of 0.22 and a debt-to-equity ratio of 1.61. CNO Financial Group, Inc. has a 1 year low of $24.92 and a 1 year high of $43.20. The business has a fifty day moving average of $40.63 and a 200 day moving average of $38.26.

CNO Financial Group (NYSE:CNO - Get Free Report) last posted its earnings results on Thursday, February 6th. The financial services provider reported $1.31 EPS for the quarter, beating analysts' consensus estimates of $1.06 by $0.25. CNO Financial Group had a net margin of 9.08% and a return on equity of 17.20%. On average, sell-side analysts expect that CNO Financial Group, Inc. will post 3.83 earnings per share for the current fiscal year.

CNO Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Monday, March 10th. CNO Financial Group's payout ratio is currently 17.11%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. BMO Capital Markets started coverage on CNO Financial Group in a report on Thursday, January 23rd. They set a "market perform" rating and a $38.00 price target on the stock. Piper Sandler upped their target price on shares of CNO Financial Group from $46.00 to $49.00 and gave the stock an "overweight" rating in a research note on Wednesday. Jefferies Financial Group raised their target price on shares of CNO Financial Group from $36.00 to $41.00 and gave the company a "hold" rating in a report on Tuesday, December 10th. Royal Bank of Canada lifted their price target on shares of CNO Financial Group from $40.00 to $45.00 and gave the stock an "outperform" rating in a research note on Monday, February 10th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of CNO Financial Group from $42.00 to $44.00 and gave the company a "market perform" rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $41.00.

CNO Financial Group Company 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.