CNO Financial Group, Inc. (NYSE:CNO) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC reduced its position in shares of CNO Financial Group, Inc. (NYSE:CNO) by 4.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 112,339 shares of the financial services provider’s stock after selling 5,102 shares during the period. MetLife Investment Management LLC owned 0.11% of CNO Financial Group worth $3,943,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. BNP Paribas Financial Markets boosted its stake in shares of CNO Financial Group by 69.8% in the third quarter. BNP Paribas Financial Markets now owns 39,946 shares of the financial services provider’s stock worth $1,402,000 after acquiring an additional 16,420 shares during the last quarter. FMR LLC boosted 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 during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of CNO Financial Group during the third quarter worth $311,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of CNO Financial Group in the third quarter valued at about $227,000. Finally, Algert Global LLC lifted its stake in shares of CNO Financial Group by 55.0% in the third quarter. Algert Global LLC now owns 148,401 shares of the financial services provider’s stock worth $5,209,000 after buying an additional 52,659 shares in the last quarter. Institutional investors and hedge funds own 95.43% of the company’s stock.

CNO Financial Group Stock Down 1.3 %

CNO stock opened at $39.40 on Tuesday. The firm has a market cap of $4.07 billion, a PE ratio of 15.89 and a beta of 1.01. CNO Financial Group, Inc. has a one year low of $24.92 and a one year high of $40.91. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.19 and a current ratio of 0.19. The firm’s 50 day moving average price is $36.60 and its 200-day moving average price is $32.64.

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 business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $945.44 million. CNO Financial Group had a return on equity of 17.53% and a net margin of 6.06%. The company’s quarterly revenue was up 19.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.88 EPS. On average, equities research analysts anticipate that CNO Financial Group, Inc. will post 3.73 EPS for the current year.

CNO Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 10th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Tuesday, December 10th. CNO Financial Group’s dividend payout ratio is presently 25.81%.

Insider Activity

In related news, insider Jeremy David Williams sold 4,783 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $40.09, for a total transaction of $191,750.47. Following the transaction, the insider now owns 62,121 shares of the company’s stock, valued at approximately $2,490,430.89. This represents a 7.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeanne L. Linnenbringer sold 5,435 shares of CNO Financial Group stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $34.26, for a total value of $186,203.10. Following the completion of the transaction, the insider now directly owns 37,663 shares of the company’s stock, valued at approximately $1,290,334.38. This represents a 12.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,196 shares of company stock valued at $533,454. Company insiders own 3.00% of the company’s stock.

Analysts Set New Price Targets

CNO has been the subject of a number of recent research reports. Piper Sandler increased their price objective on shares of CNO Financial Group from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Royal Bank of Canada increased their price target on CNO Financial Group from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $34.50.

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.