Teacher Retirement System of Texas Lowers Holdings in CNO Financial Group, Inc. (NYSE:CNO)

Teacher Retirement System of Texas trimmed its stake in CNO Financial Group, Inc. (NYSE:CNO - Free Report) by 54.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,650 shares of the financial services provider's stock after selling 76,571 shares during the period. Teacher Retirement System of Texas owned 0.06% of CNO Financial Group worth $2,651,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Bank of America Corp DE increased its position in 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 valued at $34,323,000 after buying an additional 648,591 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in CNO Financial Group during the 4th quarter valued at about $15,093,000. Balyasny Asset Management L.P. acquired a new position in CNO Financial Group during the 4th quarter valued at about $14,270,000. Norges Bank acquired a new position in CNO Financial Group during the 4th quarter valued at about $13,975,000. Finally, JPMorgan Chase & Co. increased its position in CNO Financial Group by 41.3% during the 4th 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 in the last quarter. 95.43% of the stock is owned by institutional investors.

Insider Buying and Selling at CNO Financial Group

In other news, insider Michael E. Mead sold 12,581 shares of the company's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $37.97, for a total value of $477,700.57. Following the sale, the insider owned 15,729 shares in the company, valued at $597,230.13. This represents a 44.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.00% of the company's stock.

CNO Financial Group Stock Performance

Shares of CNO stock traded down $0.60 during mid-day trading on Friday, reaching $36.34. The stock had a trading volume of 513,214 shares, compared to its average volume of 707,998. The business's fifty day moving average is $37.81 and its 200-day moving average is $38.81. 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 $3.60 billion, a price-to-earnings ratio of 12.71 and a beta of 0.87. CNO Financial Group, Inc. has a 1-year low of $29.28 and a 1-year high of $43.20.

CNO Financial Group (NYSE:CNO - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The financial services provider reported $0.79 earnings per share for the quarter, meeting analysts' consensus estimates of $0.79. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $975.80 million. CNO Financial Group had a return on equity of 17.86% and a net margin of 7.11%. The company's revenue was down 13.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.52 earnings per share. On average, research 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 disclosed 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 is a positive change from CNO Financial Group's previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.87%. CNO Financial Group's dividend payout ratio is currently 23.78%.

Wall Street Analyst Weigh In

Separately, Piper Sandler upped their target price 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 investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $41.00.

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.