JPMorgan Chase & Co. Raises Stock Position in CNO Financial Group, Inc. (NYSE:CNO)

JPMorgan Chase & Co. grew its position in shares of CNO Financial Group, Inc. (NYSE:CNO - Free Report) by 41.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,274,370 shares of the financial services provider's stock after buying an additional 372,701 shares during the quarter. JPMorgan Chase & Co. owned 1.23% of CNO Financial Group worth $47,419,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. EntryPoint Capital LLC bought a new position in CNO Financial Group during the fourth quarter valued at approximately $431,000. Prudential Financial Inc. lifted its position in CNO Financial Group by 51.6% during the fourth quarter. Prudential Financial Inc. now owns 253,131 shares of the financial services provider's stock valued at $9,419,000 after purchasing an additional 86,193 shares during the period. LPL Financial LLC lifted its position in CNO Financial Group by 5.1% during the fourth quarter. LPL Financial LLC now owns 18,679 shares of the financial services provider's stock valued at $695,000 after purchasing an additional 907 shares during the period. Fox Run Management L.L.C. bought a new position in CNO Financial Group during the fourth quarter valued at approximately $506,000. Finally, KLP Kapitalforvaltning AS bought a new position in CNO Financial Group during the fourth quarter valued at approximately $822,000. Hedge funds and other institutional investors own 95.43% of the company's stock.

Insider Activity at CNO Financial Group

In other CNO Financial Group news, General Counsel Matthew J. Zimpfer sold 40,800 shares of CNO Financial Group stock in a transaction on Friday, February 21st. The shares were sold at an average price of $40.10, for a total value of $1,636,080.00. Following the completion of the transaction, the general counsel now directly owns 204,143 shares of the company's stock, valued at $8,186,134.30. This trade represents a 16.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Yvonne K. Franzese sold 2,097 shares of CNO Financial Group stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $42.56, for a total transaction of $89,248.32. Following the completion of the transaction, the insider now directly owns 30,321 shares of the company's stock, valued at $1,290,461.76. The trade was a 6.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 159,512 shares of company stock valued at $6,497,710. Corporate insiders own 3.00% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CNO shares. Piper Sandler increased their price objective on shares of CNO Financial Group from $46.00 to $49.00 and gave the company an "overweight" rating in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods increased their price target on shares of CNO Financial Group from $42.00 to $44.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 12th. Royal Bank of Canada increased 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 report on Monday, February 10th. Finally, BMO Capital Markets began coverage on shares of CNO Financial Group in a research report on Thursday, January 23rd. They issued a "market perform" rating and a $38.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $41.00.

CNO Financial Group Price Performance

Shares of NYSE CNO traded down $1.49 during midday trading on Thursday, reaching $38.01. The stock had a trading volume of 122,493 shares, compared to its average volume of 678,283. The stock has a 50-day moving average of $40.36 and a 200-day moving average of $38.37. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.19 and a current ratio of 0.22. The company has a market capitalization of $3.81 billion, a price-to-earnings ratio of 10.16 and a beta of 0.90. CNO Financial Group, Inc. has a 12-month low of $24.92 and a 12-month high of $43.20.

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

CNO Financial Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were paid a dividend of $0.16 per share. The ex-dividend date was Monday, March 10th. This represents a $0.64 annualized dividend and a yield of 1.68%. CNO Financial Group's payout ratio is 17.11%.

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.