CNO Financial Group, Inc. (NYSE:CNO) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale cut its stake in CNO Financial Group, Inc. (NYSE:CNO - Free Report) by 88.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,434 shares of the financial services provider's stock after selling 34,277 shares during the quarter. DekaBank Deutsche Girozentrale's holdings in CNO Financial Group were worth $182,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bank of America Corp DE increased 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 during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in CNO Financial Group in the 4th quarter valued at about $15,093,000. Balyasny Asset Management L.P. acquired a new position in CNO Financial Group in the 4th quarter valued at about $14,270,000. Norges Bank acquired a new position in CNO Financial Group in the 4th quarter valued at about $13,975,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of CNO Financial Group by 41.3% in 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 during the period. 95.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CNO Financial Group

In other news, insider Michael E. Mead sold 12,581 shares of the firm'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 transaction, the insider directly owned 15,729 shares in the company, valued at $597,230.13. This trade represents a 44.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.00% of the stock is currently owned by company insiders.

CNO Financial Group Price Performance

CNO Financial Group stock traded up $0.05 during trading hours on Friday, hitting $37.65. The stock had a trading volume of 262,423 shares, compared to its average volume of 705,625. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.18 and a quick ratio of 0.18. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of 13.15 and a beta of 0.87. CNO Financial Group, Inc. has a 1-year low of $29.52 and a 1-year high of $43.20. The stock's fifty day moving average is $37.76 and its two-hundred day moving average is $38.78.

CNO Financial Group (NYSE:CNO - Get Free Report) last posted its earnings results on Monday, April 28th. The financial services provider reported $0.79 earnings per share for the quarter, meeting the consensus estimate of $0.79. The company 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%. CNO Financial Group's revenue was down 13.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.52 earnings per share. As a group, analysts predict that CNO Financial Group, Inc. will post 3.83 earnings per share for the current fiscal year.

CNO Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 24th. Investors of record on Tuesday, June 10th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, June 10th. This is an increase from CNO Financial Group's previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 1.81%. CNO Financial Group's dividend payout ratio is 23.78%.

Analysts Set New Price Targets

Separately, Piper Sandler lifted their price objective on CNO Financial Group from $46.00 to $49.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. One equities research 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. According to data from MarketBeat.com, the company currently has an average 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.