Bank of New York Mellon Corp Trims Stake in CNO Financial Group, Inc. (NYSE:CNO)

Bank of New York Mellon Corp lowered its stake in shares of CNO Financial Group, Inc. (NYSE:CNO - Free Report) by 1.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,026,337 shares of the financial services provider's stock after selling 10,950 shares during the period. Bank of New York Mellon Corp owned approximately 1.02% of CNO Financial Group worth $42,747,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in CNO. Fuller & Thaler Asset Management Inc. grew its holdings in shares of CNO Financial Group by 3.1% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 4,285,783 shares of the financial services provider's stock valued at $159,474,000 after buying an additional 130,342 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of CNO Financial Group by 11.7% during the fourth quarter. American Century Companies Inc. now owns 2,687,861 shares of the financial services provider's stock valued at $100,015,000 after buying an additional 282,611 shares during the last quarter. JPMorgan Chase & Co. grew its holdings 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 valued at $47,419,000 after buying an additional 372,701 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of CNO Financial Group by 236.9% during the fourth quarter. Bank of America Corp DE now owns 922,411 shares of the financial services provider's stock valued at $34,323,000 after buying an additional 648,591 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of CNO Financial Group by 21.6% during the fourth quarter. Invesco Ltd. now owns 899,226 shares of the financial services provider's stock valued at $33,460,000 after buying an additional 159,603 shares during the last quarter. Institutional investors and hedge funds own 95.43% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler lifted their price objective on shares of CNO Financial Group from $46.00 to $49.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, CNO Financial Group currently has a consensus rating of "Hold" and a consensus price target of $41.00.

CNO Financial Group Stock Performance

NYSE:CNO traded up $0.37 during trading on Thursday, reaching $37.06. The company's stock had a trading volume of 67,636 shares, compared to its average volume of 704,666. The firm has a 50 day moving average of $37.76 and a 200-day moving average of $38.78. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.18 and a current ratio of 0.18. The firm has a market cap of $3.67 billion, a price-to-earnings ratio of 12.96 and a beta of 0.87. CNO Financial Group, Inc. has a 12 month low of $29.52 and a 12 month high of $43.20.

CNO Financial Group (NYSE:CNO - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The financial services provider reported $0.79 earnings per share for the quarter, hitting 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 for the quarter, compared to the consensus estimate of $975.80 million. During the same period in the previous year, the firm earned $0.52 EPS. The firm's quarterly revenue was down 13.2% on a year-over-year basis. Research analysts expect that CNO Financial Group, Inc. will post 3.83 EPS for the current fiscal year.

CNO Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 24th. Investors 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 yield of 1.84%. This is a positive change from CNO Financial Group's previous quarterly dividend of $0.16. CNO Financial Group's dividend payout ratio (DPR) is 23.78%.

Insider Transactions at CNO Financial Group

In related news, insider Michael E. Mead sold 12,581 shares of the stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $37.97, for a total transaction of $477,700.57. Following the sale, the insider owned 15,729 shares of the company's stock, valued at approximately $597,230.13. This represents a 44.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.00% of the company's stock.

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.