Bryce Point Capital LLC Decreases Stock Position in 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 CNO Financial Group, Inc. (NYSE:CNO - Free Report) by 51.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. 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 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its stake in shares of CNO Financial Group by 5.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,701 shares of the financial services provider's stock worth $571,000 after acquiring an additional 744 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in CNO Financial Group by 15.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 772,371 shares of the financial services provider's stock valued at $32,424,000 after buying an additional 100,735 shares during the period. GAMMA Investing LLC raised its holdings in CNO Financial Group by 25.0% in the 1st quarter. GAMMA Investing LLC now owns 2,861 shares of the financial services provider's stock worth $119,000 after purchasing an additional 572 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in CNO Financial Group by 42.0% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 8,471 shares of the financial services provider's stock worth $353,000 after acquiring an additional 2,507 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of CNO Financial Group during the 1st quarter valued at $806,000. 95.43% of the stock is owned by institutional investors.

Insider Activity at CNO Financial Group

In other news, insider Michael E. Mead sold 12,581 shares of the stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $37.97, for a total transaction of $477,700.57. Following the transaction, the insider directly owned 15,729 shares in the company, valued at approximately $597,230.13. This trade represents a 44.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.38% of the company's stock.

Analyst Ratings Changes

Separately, 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 report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $41.00.

CNO Financial Group Trading Down 0.5%

Shares of CNO traded down $0.19 during trading hours on Monday, reaching $37.63. 1,049,035 shares of the company traded hands, compared to its average volume of 676,398. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.59. The firm has a market cap of $3.73 billion, a price-to-earnings ratio of 13.16 and a beta of 0.87. The stock's fifty day moving average price is $37.62 and its 200 day moving average price is $38.83. CNO Financial Group, Inc. has a 12-month low of $30.48 and a 12-month high of $43.20.

CNO Financial Group (NYSE:CNO - Get Free Report) last issued its earnings results on Monday, July 28th. The financial services provider reported $0.87 earnings per share for the quarter, missing analysts' consensus estimates of $0.88 by ($0.01). CNO Financial Group had a net margin of 7.11% and a return on equity of 17.86%. During the same period in the prior year, the business earned $1.06 EPS. 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 firm also recently announced a quarterly dividend, which was paid on Tuesday, June 24th. Shareholders of record on Tuesday, June 10th were given a dividend of $0.17 per share. This is an increase from CNO Financial Group's previous quarterly dividend of $0.16. The ex-dividend date was Tuesday, June 10th. This represents a $0.68 dividend on an annualized basis and a yield of 1.81%. CNO Financial Group's dividend payout ratio (DPR) is 23.78%.

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.