Principal Financial Group Inc. Sells 143,702 Shares of CNO Financial Group, Inc. (NYSE:CNO)

Principal Financial Group Inc. lessened its holdings in shares of CNO Financial Group, Inc. (NYSE:CNO - Free Report) by 7.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,755,897 shares of the financial services provider's stock after selling 143,702 shares during the period. Principal Financial Group Inc. owned 1.70% of CNO Financial Group worth $65,337,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in shares of CNO Financial Group by 15.3% during 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 last quarter. Principal Securities Inc. increased its position in CNO Financial Group by 51.6% during the 4th quarter. Principal Securities Inc. now owns 955 shares of the financial services provider's stock valued at $36,000 after buying an additional 325 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in CNO Financial Group by 1.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,647 shares of the financial services provider's stock valued at $795,000 after buying an additional 376 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in CNO Financial Group by 3.5% in the third quarter. State of Alaska Department of Revenue now owns 12,290 shares of the financial services provider's stock worth $431,000 after acquiring an additional 415 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of CNO Financial Group by 7.4% in the fourth quarter. Blue Trust Inc. now owns 6,737 shares of the financial services provider's stock worth $236,000 after acquiring an additional 464 shares during the last quarter. 95.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, General Counsel Matthew J. Zimpfer sold 40,800 shares of CNO Financial Group stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $40.10, for a total transaction of $1,636,080.00. Following the sale, the general counsel now owns 204,143 shares of the company's stock, valued at approximately $8,186,134.30. This trade represents a 16.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Rocco F. Tarasi III sold 1,484 shares of the company's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $38.02, for a total value of $56,421.68. Following the completion of the transaction, the chief marketing officer now owns 79,896 shares of the company's stock, valued at $3,037,645.92. The trade was a 1.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 87,584 shares of company stock worth $3,554,089. Company insiders own 3.00% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CNO. Jefferies Financial Group upped their price target on shares of CNO Financial Group from $36.00 to $41.00 and gave the stock a "hold" rating in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods upped their target price on shares of 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. Royal Bank of Canada raised 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. BMO Capital Markets started coverage on CNO Financial Group in a research report on Thursday, January 23rd. They issued a "market perform" rating and a $38.00 price objective on the stock. Finally, Piper Sandler reissued an "overweight" rating and issued a $46.00 target price (up previously from $44.00) on shares of CNO Financial Group in a report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, CNO Financial Group currently has a consensus rating of "Hold" and a consensus price target of $40.50.

CNO Financial Group Stock Performance

Shares of NYSE CNO traded down $0.81 during midday trading on Friday, hitting $39.81. 602,124 shares of the company's stock traded hands, compared to its average volume of 558,713. 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 stock has a market capitalization of $4.11 billion, a price-to-earnings ratio of 10.64 and a beta of 1.04. The firm has a fifty day moving average of $38.72 and a 200 day moving average of $36.69. CNO Financial Group, Inc. has a 1 year low of $24.92 and a 1 year high of $42.02.

CNO Financial Group (NYSE:CNO - Get Free Report) last announced its earnings results on Thursday, February 6th. The financial services provider reported $1.31 EPS for the quarter, topping 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 forecast that CNO Financial Group, Inc. will post 3.83 earnings per share for the current year.

CNO Financial Group Announces Dividend

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

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.