Allspring Global Investments Holdings LLC Increases Position in CNO Financial Group, Inc. (NYSE:CNO)

Allspring Global Investments Holdings LLC lifted its holdings in shares of CNO Financial Group, Inc. (NYSE:CNO - Free Report) by 15.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 772,371 shares of the financial services provider's stock after purchasing an additional 100,735 shares during the period. Allspring Global Investments Holdings LLC owned 0.77% of CNO Financial Group worth $32,424,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CNO. Bank of America Corp DE boosted its position in shares of CNO Financial Group by 236.9% during the 4th quarter. Bank of America Corp DE now owns 922,411 shares of the financial services provider's stock worth $34,323,000 after purchasing an additional 648,591 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in CNO Financial Group in the fourth quarter valued at approximately $15,093,000. Balyasny Asset Management L.P. bought a new stake in shares of CNO Financial Group during the fourth quarter valued at approximately $14,270,000. Norges Bank acquired a new position in shares of CNO Financial Group during the fourth quarter worth approximately $13,975,000. Finally, JPMorgan Chase & Co. raised its position in shares of CNO Financial Group by 41.3% during the fourth quarter. JPMorgan Chase & Co. now owns 1,274,370 shares of the financial services provider's stock worth $47,419,000 after purchasing an additional 372,701 shares during the period. Institutional investors own 95.43% of the company's stock.

Analysts Set New Price Targets

Separately, Piper Sandler increased their price objective on CNO Financial Group from $46.00 to $49.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $41.00.

CNO Financial Group Stock Performance

Shares of NYSE CNO traded down $0.86 during mid-day trading on Wednesday, hitting $37.86. The company had a trading volume of 794,496 shares, compared to its average volume of 705,998. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.59. CNO Financial Group, Inc. has a 1 year low of $27.60 and a 1 year high of $43.20. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of 13.24 and a beta of 0.87. The stock's 50-day moving average price is $38.02 and its 200-day moving average price is $38.78.

CNO Financial Group (NYSE:CNO - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The financial services provider reported $0.79 EPS for the quarter, meeting analysts' consensus estimates of $0.79. CNO Financial Group had a net margin of 7.11% and a return on equity of 17.86%. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $975.80 million. During the same period last year, the business earned $0.52 earnings per share. CNO Financial Group's revenue was down 13.2% compared to the same quarter last year. On average, sell-side analysts forecast that CNO Financial Group, Inc. will post 3.83 earnings per share for the current year.

CNO Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 24th. Stockholders of record on Tuesday, June 10th were issued a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $0.68 annualized dividend and a dividend yield of 1.80%. This is a boost from CNO Financial Group's previous quarterly dividend of $0.16. CNO Financial Group's dividend payout ratio is presently 23.78%.

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.