Raymond James Financial Inc. Makes New Investment in CNO Financial Group, Inc. (NYSE:CNO)

Raymond James Financial Inc. bought a new position in CNO Financial Group, Inc. (NYSE:CNO - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 61,676 shares of the financial services provider's stock, valued at approximately $2,295,000. Raymond James Financial Inc. owned 0.06% of CNO Financial Group as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC increased its stake in CNO Financial Group by 28.8% during the 3rd quarter. FMR LLC now owns 1,040,619 shares of the financial services provider's stock worth $36,526,000 after purchasing an additional 232,631 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of CNO Financial Group by 37.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 671,636 shares of the financial services provider's stock valued at $24,945,000 after buying an additional 181,711 shares during the period. Barclays PLC increased its position in shares of CNO Financial Group by 113.7% during the third quarter. Barclays PLC now owns 219,141 shares of the financial services provider's stock worth $7,691,000 after acquiring an additional 116,617 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of CNO Financial Group by 6.0% during the third quarter. Principal Financial Group Inc. now owns 1,899,599 shares of the financial services provider's stock worth $66,676,000 after acquiring an additional 107,589 shares in the last quarter. Finally, Citigroup Inc. raised its stake in shares of CNO Financial Group by 78.0% in the 3rd quarter. Citigroup Inc. now owns 129,925 shares of the financial services provider's stock valued at $4,560,000 after purchasing an additional 56,932 shares during the period. 95.43% of the stock is owned by institutional investors.

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Insider Activity

In other news, General Counsel Matthew J. Zimpfer sold 40,800 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were 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 owns 244,943 shares of the company's stock, valued at approximately $10,162,685.07. The trade was a 14.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Yvonne K. Franzese sold 2,097 shares of the firm's stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $42.56, for a total transaction of $89,248.32. Following the transaction, the insider now directly owns 30,321 shares in the company, valued at approximately $1,290,461.76. This represents a 6.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 159,512 shares of company stock valued at $6,497,710. 3.00% of the stock is owned by insiders.

Analyst Ratings Changes

CNO has been the topic of a number of research reports. Jefferies Financial Group boosted their price objective on shares of CNO Financial Group from $36.00 to $41.00 and gave the stock a "hold" rating in a research report on Tuesday, December 10th. Royal Bank of Canada boosted 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. Keefe, Bruyette & Woods lifted their target price on 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. Piper Sandler increased their price target on CNO Financial Group from $46.00 to $49.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, BMO Capital Markets began coverage on CNO Financial Group in a research note on Thursday, January 23rd. They issued a "market perform" rating and a $38.00 price target for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, CNO Financial Group presently has an average rating of "Hold" and an average target price of $41.00.

CNO Financial Group Stock Performance

Shares of CNO traded down $2.52 during mid-day trading on Thursday, reaching $39.85. The company's stock had a trading volume of 103,866 shares, compared to its average volume of 649,142. The company has a current ratio of 0.22, a quick ratio of 0.19 and a debt-to-equity ratio of 1.61. The stock has a market cap of $4.00 billion, a P/E ratio of 10.67 and a beta of 1.02. CNO Financial Group, Inc. has a 1-year low of $24.92 and a 1-year high of $43.20. The business has a 50-day simple moving average of $40.63 and a two-hundred day simple moving average of $38.26.

CNO Financial Group (NYSE:CNO - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.31 EPS 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, equities research analysts anticipate that CNO Financial Group, Inc. will post 3.83 earnings per share for the current fiscal year.

CNO Financial Group Announces Dividend

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

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.