State Street Corp Cuts Stock Position in CNO Financial Group, Inc. (NYSE:CNO)

State Street Corp cut its holdings in shares of CNO Financial Group, Inc. (NYSE:CNO) by 0.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,823,043 shares of the financial services provider’s stock after selling 21,296 shares during the period. State Street Corp owned about 4.67% of CNO Financial Group worth $169,289,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Quantinno Capital Management LP increased its stake in CNO Financial Group by 2.4% during the third quarter. Quantinno Capital Management LP now owns 149,690 shares of the financial services provider’s stock worth $5,254,000 after purchasing an additional 3,537 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its stake in shares of CNO Financial Group by 72.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,817 shares of the financial services provider’s stock worth $380,000 after buying an additional 4,538 shares during the period. Verition Fund Management LLC increased its stake in shares of CNO Financial Group by 31.3% during the third quarter. Verition Fund Management LLC now owns 16,435 shares of the financial services provider’s stock worth $577,000 after buying an additional 3,914 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of 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 worth $795,000 after buying an additional 376 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in shares of CNO Financial Group by 69.8% during the third quarter. BNP Paribas Financial Markets now owns 39,946 shares of the financial services provider’s stock worth $1,402,000 after buying an additional 16,420 shares during the period. 95.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CIO Eric R. Johnson sold 3,978 shares of CNO Financial Group stock in a transaction on Monday, November 18th. The shares were sold at an average price of $39.09, for a total value of $155,500.02. Following the transaction, the executive now directly owns 631,844 shares in the company, valued at $24,698,781.96. This trade represents a 0.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jeremy David Williams sold 4,783 shares of CNO Financial Group stock in a transaction on Monday, November 11th. The shares were sold at an average price of $40.09, for a total transaction of $191,750.47. Following the completion of the transaction, the insider now owns 62,121 shares in the company, valued at approximately $2,490,430.89. This trade represents a 7.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.

CNO Financial Group Stock Performance

Shares of CNO Financial Group stock opened at $38.00 on Friday. The firm has a market capitalization of $3.92 billion, a P/E ratio of 15.32 and a beta of 1.02. CNO Financial Group, Inc. has a 52 week low of $24.92 and a 52 week high of $40.91. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 1.50. The firm’s 50 day moving average is $37.41 and its two-hundred day moving average is $33.28.

CNO Financial Group (NYSE:CNO) last announced its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.11 EPS for the quarter, beating the consensus estimate of $0.82 by $0.29. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $945.44 million. CNO Financial Group had a net margin of 6.06% and a return on equity of 17.53%. The firm’s revenue was up 19.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.88 earnings per share. Research analysts forecast that CNO Financial Group, Inc. will post 3.73 EPS for the current fiscal year.

CNO Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 10th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend is Tuesday, December 10th. CNO Financial Group’s payout ratio is currently 25.81%.

Analysts Set New Price Targets

A number of research firms recently weighed in on CNO. Royal Bank of Canada upped their target price on shares of CNO Financial Group from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Jefferies Financial Group upped their target price 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. Finally, Piper Sandler upped their target price on shares of CNO Financial Group from $37.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $35.80.

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.