Hsbc Holdings PLC Raises Holdings in CNO Financial Group, Inc. $CNO

Key Points

• HSBC Holdings PLC more than doubled its stake in CNO Financial Group in the fourth quarter, buying an additional 22,749 shares for a total of 45,025 shares worth about $1.9 million.
• CNO Financial Group’s stock fell 2.0% to $51.86, even as it traded above its 50-day and 200-day moving averages and near its 12-month high.
• The company raised its quarterly dividend to $0.18 per share from $0.17, while analysts currently have a consensus Hold rating with a $50.75 price target.

Hsbc Holdings PLC increased its position in shares of CNO Financial Group, Inc. (NYSE:CNO - Free Report) by 102.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,025 shares of the financial services provider's stock after buying an additional 22,749 shares during the period. Hsbc Holdings PLC's holdings in CNO Financial Group were worth $1,914,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Osaic Holdings Inc. boosted its stake in shares of CNO Financial Group by 39.2% during the second quarter. Osaic Holdings Inc. now owns 1,194 shares of the financial services provider's stock valued at $46,000 after purchasing an additional 336 shares in the last quarter. Signaturefd LLC increased its holdings in shares of CNO Financial Group by 18.7% in the 4th quarter. Signaturefd LLC now owns 2,217 shares of the financial services provider's stock valued at $94,000 after acquiring an additional 349 shares during the period. Fifth Third Bancorp raised its position in shares of CNO Financial Group by 25.0% in the 4th quarter. Fifth Third Bancorp now owns 1,888 shares of the financial services provider's stock worth $80,000 after acquiring an additional 377 shares in the last quarter. Greenleaf Trust lifted its stake in shares of CNO Financial Group by 2.5% during the 4th quarter. Greenleaf Trust now owns 15,529 shares of the financial services provider's stock worth $660,000 after purchasing an additional 384 shares during the last quarter. Finally, Pathstone Holdings LLC boosted its position in CNO Financial Group by 1.2% during the third quarter. Pathstone Holdings LLC now owns 36,833 shares of the financial services provider's stock valued at $1,457,000 after purchasing an additional 439 shares in the last quarter. Institutional investors own 95.43% of the company's stock.

CNO Financial Group Stock Down 2.0%

CNO stock traded down $1.07 on Friday, hitting $51.86. 1,044,017 shares of the company's stock were exchanged, compared to its average volume of 836,131. The firm has a 50 day moving average price of $48.96 and a two-hundred day moving average price of $44.55. CNO Financial Group, Inc. has a 12-month low of $35.24 and a 12-month high of $53.55. The stock has a market cap of $4.84 billion, a P/E ratio of 20.83 and a beta of 0.81. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.17 and a current ratio of 0.17.

CNO Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 10th were paid a dividend of $0.18 per share. The ex-dividend date was Wednesday, June 10th. This is a positive change from CNO Financial Group's previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.4%. CNO Financial Group's payout ratio is presently 28.92%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Weiss Ratings reiterated a "buy (b)" rating on shares of CNO Financial Group in a research note on Monday, April 20th. Wall Street Zen lowered shares of CNO Financial Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 28th. Evercore set a $48.00 price target on shares of CNO Financial Group and gave the company an "in-line" rating in a report on Monday, June 1st. Jefferies Financial Group downgraded shares of CNO Financial Group from a "buy" rating to a "hold" rating and lifted their price objective for the stock from $53.00 to $55.00 in a research report on Friday. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of CNO Financial Group from $46.00 to $50.00 and gave the stock a "market perform" rating in a research note on Tuesday, May 5th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $50.75.

Insider Activity

In other CNO Financial Group news, CMO Rocco F. Tarasi III sold 5,750 shares of the company's stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $50.00, for a total transaction of $287,500.00. Following the transaction, the chief marketing officer owned 79,191 shares in the company, valued at approximately $3,959,550. This represents a 6.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gary C. Bhojwani sold 86,048 shares of the firm's stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $51.48, for a total transaction of $4,429,751.04. Following the completion of the transaction, the chief executive officer directly owned 174,264 shares of the company's stock, valued at approximately $8,971,110.72. This represents a 33.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 95,106 shares of company stock worth $4,879,343. Corporate insiders own 3.44% of the company's stock.

About CNO Financial Group

CNO Financial Group is an Indiana‐based holding company that offers a range of insurance and retirement solutions through its operating subsidiaries. Its primary business activities include life insurance, annuities, and supplemental health insurance products designed to help individuals plan for retirement and manage health‐related expenses. The company serves middle‐income Americans, with particular emphasis on senior customers seeking guaranteed coverage and reliable income streams.

Originally founded as Conseco in 1979, the company underwent a financial restructuring and rebranded as CNO Financial Group in 2010.

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