Bryce Point Capital LLC Sells 18,410 Shares of CNO Financial Group, Inc. (NYSE:CNO)

Key Points

• Bryce Point Capital LLC reduced its holdings in CNO Financial Group by 51.7%, selling 18,410 shares and ending up with 17,196 shares worth $682,000.
• Analysts have given CNO Financial Group a consensus rating of "Hold" with a price target of $41.00, while Piper Sandler recently increased the target from $46.00 to $49.00.
• CNO Financial Group declared a quarterly dividend of $0.17 per share, marking an increase from the previous $0.16, which translates to an annual dividend yield of 1.80%.

Bryce Point Capital LLC cut its stake in shares of CNO Financial Group, Inc. (NYSE:CNO - Free Report) by 51.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,196 shares of the financial services provider's stock after selling 18,410 shares during the quarter. Bryce Point Capital LLC's holdings in CNO Financial Group were worth $682,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CNO. FourThought Financial Partners LLC bought a new stake in shares of CNO Financial Group during the first quarter valued at approximately $255,000. Neo Ivy Capital Management bought a new stake in shares of CNO Financial Group in the 1st quarter worth $28,000. Cetera Investment Advisers bought a new stake in shares of CNO Financial Group in the 1st quarter worth $722,000. Dorsey Wright & Associates bought a new stake in CNO Financial Group in the 1st quarter worth about $1,519,000. Finally, Allianz Asset Management GmbH increased its holdings in CNO Financial Group by 6.6% in the 1st quarter. Allianz Asset Management GmbH now owns 904,795 shares of the financial services provider's stock worth $37,685,000 after buying an additional 56,388 shares in the last quarter. 95.43% of the stock is currently owned by institutional investors.

Insider Activity

In other CNO Financial Group news, insider Michael E. Mead sold 12,581 shares of the firm's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $37.97, for a total value of $477,700.57. Following the completion of the sale, the insider owned 15,729 shares of the company's stock, valued at $597,230.13. This trade represents a 44.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.00% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler lifted their price target on shares of 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 issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $41.00.

CNO Financial Group Price Performance

CNO Financial Group stock traded up $0.89 during midday trading on Thursday, reaching $36.95. 387,419 shares of the stock traded hands, compared to its average volume of 713,782. The stock's fifty day moving average is $37.54 and its 200-day moving average is $38.80. CNO Financial Group, Inc. has a 12 month low of $30.48 and a 12 month high of $43.20. The stock has a market cap of $3.66 billion, a P/E ratio of 13.63 and a beta of 0.87. The company has a quick ratio of 0.18, a current ratio of 0.17 and a debt-to-equity ratio of 1.50.

CNO Financial Group (NYSE:CNO - Get Free Report) last posted its earnings results on Monday, July 28th. The financial services provider reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.85 by $0.02. CNO Financial Group had a return on equity of 16.63% and a net margin of 6.41%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $971.25 million. During the same period in the prior year, the company earned $1.06 EPS. As a group, equities research analysts anticipate that CNO Financial Group, Inc. will post 3.83 EPS for the current year.

CNO Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 24th. Investors of record on Tuesday, June 10th were given a $0.17 dividend. The ex-dividend date was Tuesday, June 10th. This is an increase from CNO Financial Group's previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a yield of 1.84%. CNO Financial Group's dividend payout ratio (DPR) is currently 23.78%.

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.