Ameriprise Financial Inc. Sells 16,924 Shares of CNO Financial Group, Inc. (NYSE:CNO)

Ameriprise Financial Inc. cut its holdings in shares of CNO Financial Group, Inc. (NYSE:CNO - Free Report) by 2.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 607,767 shares of the financial services provider's stock after selling 16,924 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.59% of CNO Financial Group worth $22,615,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Algert Global LLC grew its holdings in CNO Financial Group by 10.9% during the 4th quarter. Algert Global LLC now owns 164,527 shares of the financial services provider's stock valued at $6,122,000 after buying an additional 16,126 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in shares of CNO Financial Group during the fourth quarter valued at approximately $2,994,000. Schonfeld Strategic Advisors LLC purchased a new stake in CNO Financial Group in the fourth quarter worth $803,000. Tudor Investment Corp ET AL purchased a new stake in CNO Financial Group in the fourth quarter worth $391,000. Finally, Quarry LP boosted its holdings in CNO Financial Group by 137.8% in the fourth quarter. Quarry LP now owns 1,334 shares of the financial services provider's stock worth $50,000 after acquiring an additional 773 shares in the last quarter. Institutional investors own 95.43% of the company's stock.

CNO Financial Group Stock Performance

Shares of NYSE CNO traded up $0.09 during trading on Monday, reaching $38.76. 169,346 shares of the company traded hands, compared to its average volume of 711,190. The firm's fifty day simple moving average is $39.09 and its 200 day simple moving average is $39.02. The stock has a market cap of $3.84 billion, a P/E ratio of 10.36 and a beta of 0.90. CNO Financial Group, Inc. has a 12-month low of $26.36 and a 12-month high of $43.20. The company has a current ratio of 0.22, a quick ratio of 0.19 and a debt-to-equity ratio of 1.61.

CNO Financial Group (NYSE:CNO - Get Free Report) last issued its earnings results on Monday, April 28th. The financial services provider reported $0.79 earnings per share for the quarter, hitting the consensus estimate of $0.79. CNO Financial Group had a return on equity of 17.20% and a net margin of 9.08%. The business had revenue of $1 billion for the quarter, compared to analysts' expectations of $975.80 million. During the same period in the previous year, the firm posted $0.52 EPS. The business's revenue for the quarter was down 13.2% compared to the same quarter last year. As a group, research analysts anticipate that CNO Financial Group, Inc. will post 3.83 earnings per share for the current fiscal year.

CNO Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Tuesday, June 10th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.75%. This is a boost from CNO Financial Group's previous quarterly dividend of $0.16. The ex-dividend date is Tuesday, June 10th. CNO Financial Group's dividend payout ratio (DPR) is 23.78%.

Insiders Place Their Bets

In related news, insider Scott L. Goldberg sold 25,500 shares of the company's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $40.02, for a total transaction of $1,020,510.00. Following the completion of the sale, the insider now directly owns 169,342 shares of the company's stock, valued at approximately $6,777,066.84. This represents a 13.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeremy David Williams sold 3,393 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $41.77, for a total transaction of $141,725.61. Following the transaction, the insider now directly owns 56,599 shares of the company's stock, valued at $2,364,140.23. The trade was a 5.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 159,512 shares of company stock valued at $6,497,710. Company insiders own 3.00% of the company's stock.

Analysts Set New Price Targets

CNO has been the subject of several recent analyst reports. 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 note on Monday, February 10th. BMO Capital Markets started coverage on CNO Financial Group in a research note on Thursday, January 23rd. They issued a "market perform" rating and a $38.00 price objective for the company. Piper Sandler raised their price objective on CNO Financial Group from $46.00 to $49.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods increased their price target on CNO Financial Group from $42.00 to $44.00 and gave the stock a "market perform" rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $41.00.

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.