Dorsey Wright & Associates purchased a new stake in CNO Financial Group, Inc. (NYSE:CNO - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 36,462 shares of the financial services provider's stock, valued at approximately $1,519,000.
A number of other large investors have also recently added to or reduced their stakes in CNO. Bank of America Corp DE boosted its position in 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 worth $34,323,000 after purchasing an additional 648,591 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in CNO Financial Group during the fourth quarter worth approximately $15,093,000. Balyasny Asset Management L.P. bought a new stake in CNO Financial Group during the fourth quarter worth approximately $14,270,000. Norges Bank bought a new stake in CNO Financial Group during the fourth quarter worth approximately $13,975,000. Finally, JPMorgan Chase & Co. lifted 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 worth $47,419,000 after buying an additional 372,701 shares during the last quarter. Institutional investors own 95.43% of the company's stock.
CNO Financial Group Stock Performance
Shares of NYSE CNO traded up $0.40 during trading hours on Friday, reaching $37.77. The stock had a trading volume of 658,913 shares, compared to its average volume of 691,837. The business's fifty day moving average is $37.64 and its two-hundred day moving average is $38.81. 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 company has a market cap of $3.74 billion, a price-to-earnings ratio of 13.21 and a beta of 0.87. CNO Financial Group, Inc. has a twelve month low of $30.48 and a twelve month high of $43.20.
CNO Financial Group (NYSE:CNO - Get Free Report) last issued its earnings results on Monday, April 28th. The financial services provider reported $0.79 EPS for the quarter, meeting analysts' consensus estimates of $0.79. The business had revenue of $1 billion during 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% on a year-over-year basis. During the same period in the prior year, the company posted $0.52 earnings per share. As a group, research analysts expect that CNO Financial Group, Inc. will post 3.83 EPS for the current year.
CNO Financial Group Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 24th. Investors of record on Tuesday, June 10th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.80%. This is a positive change from CNO Financial Group's previous quarterly dividend of $0.16. The ex-dividend date was Tuesday, June 10th. CNO Financial Group's dividend payout ratio is presently 23.78%.
Insider Activity at CNO Financial Group
In related news, insider Michael E. Mead sold 12,581 shares of the company's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $37.97, for a total value of $477,700.57. Following the completion of the transaction, the insider directly owned 15,729 shares in the company, valued at approximately $597,230.13. This represents a 44.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 3.00% of the company's stock.
Wall Street Analyst Weigh In
Separately, Piper Sandler upped their price target on CNO Financial Group from $46.00 to $49.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $41.00.
Get Our Latest Analysis on CNO
About CNO Financial Group
(
Free Report)
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.
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