Prudential Financial Inc. Boosts Holdings in CNO Financial Group, Inc. (NYSE:CNO)

Prudential Financial Inc. raised its position in shares of CNO Financial Group, Inc. (NYSE:CNO - Free Report) by 51.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 253,131 shares of the financial services provider's stock after purchasing an additional 86,193 shares during the period. Prudential Financial Inc. owned about 0.25% of CNO Financial Group worth $9,419,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in CNO. LPL Financial LLC lifted its stake in CNO Financial Group by 5.1% in the fourth quarter. LPL Financial LLC now owns 18,679 shares of the financial services provider's stock worth $695,000 after acquiring an additional 907 shares during the period. Fox Run Management L.L.C. purchased a new position in CNO Financial Group during the fourth quarter valued at approximately $506,000. KLP Kapitalforvaltning AS bought a new position in CNO Financial Group in the fourth quarter worth approximately $822,000. Hillsdale Investment Management Inc. lifted its holdings in CNO Financial Group by 0.4% during the fourth quarter. Hillsdale Investment Management Inc. now owns 129,600 shares of the financial services provider's stock worth $4,822,000 after buying an additional 500 shares during the period. Finally, Sei Investments Co. boosted its position in CNO Financial Group by 22.5% during the 4th quarter. Sei Investments Co. now owns 168,252 shares of the financial services provider's stock valued at $6,261,000 after acquiring an additional 30,916 shares in the last quarter. Institutional investors own 95.43% of the company's stock.

Remove Ads

Insider Buying and Selling at CNO Financial Group

In related news, insider Yvonne K. Franzese sold 8,109 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $42.00, for a total transaction of $340,578.00. Following the sale, the insider now directly owns 38,540 shares of the company's stock, valued at $1,618,680. This trade represents a 17.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Scott L. Goldberg sold 25,500 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $40.02, for a total value of $1,020,510.00. Following the completion of the transaction, the insider now directly owns 169,342 shares of the company's stock, valued at $6,777,066.84. The trade was a 13.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 159,512 shares of company stock valued at $6,497,710. 3.00% of the stock is owned by insiders.

CNO Financial Group Stock Performance

Shares of CNO traded down $2.69 during trading hours on Thursday, reaching $39.68. 130,720 shares of the company traded hands, compared to its average volume of 649,503. The stock has a market capitalization of $3.98 billion, a P/E ratio of 10.61 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. The business has a fifty day moving average price of $40.63 and a 200-day moving average price of $38.26. 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 released 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%. Equities analysts anticipate that CNO Financial Group, Inc. will post 3.83 EPS for the current fiscal year.

CNO Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.64 dividend on an annualized basis and a yield of 1.61%. CNO Financial Group's dividend payout ratio is presently 17.11%.

Wall Street Analyst Weigh In

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

About CNO Financial Group

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.