Jennison Associates LLC Sells 16,689 Shares of CNO Financial Group, Inc. (NYSE:CNO)

Jennison Associates LLC trimmed its holdings in shares of CNO Financial Group, Inc. (NYSE:CNO - Free Report) by 26.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,018 shares of the financial services provider's stock after selling 16,689 shares during the period. Jennison Associates LLC's holdings in CNO Financial Group were worth $1,917,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CNO. Bank of America Corp DE raised its stake in CNO Financial Group by 236.9% in 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 acquiring an additional 648,591 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in CNO Financial Group during the 4th quarter valued at about $15,093,000. Balyasny Asset Management L.P. purchased a new position in CNO Financial Group during the 4th quarter valued at about $14,270,000. Norges Bank purchased a new position in CNO Financial Group during the 4th quarter valued at about $13,975,000. Finally, JPMorgan Chase & Co. grew its holdings 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 currently owned by institutional investors.

Analyst Ratings Changes

Separately, Piper Sandler lifted their target price on CNO Financial Group from $46.00 to $49.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. One research 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. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $41.00.

Insiders Place Their Bets

In related news, insider Michael E. Mead sold 12,581 shares of the business's stock in a transaction that occurred 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 sale, the insider owned 15,729 shares in the company, valued at $597,230.13. The trade was a 44.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.00% of the stock is owned by insiders.

CNO Financial Group Price Performance

Shares of NYSE CNO traded down $0.15 during midday trading on Thursday, hitting $37.36. 274,073 shares of the company's stock were exchanged, compared to its average volume of 699,585. CNO Financial Group, Inc. has a 12-month low of $30.44 and a 12-month high of $43.20. 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 company has a market cap of $3.70 billion, a price-to-earnings ratio of 13.09 and a beta of 0.87. The business's fifty day moving average price is $37.71 and its two-hundred day moving average price is $38.80.

CNO Financial Group (NYSE:CNO - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The financial services provider reported $0.79 EPS for the quarter, hitting the consensus estimate of $0.79. The company 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 quarter in the previous year, the firm earned $0.52 earnings per share. As a group, research analysts forecast that CNO Financial Group, Inc. will post 3.83 EPS for the current fiscal 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 given a $0.17 dividend. This is an increase from CNO Financial Group's previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $0.68 dividend on an annualized basis and a yield of 1.82%. CNO Financial Group's payout ratio is presently 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.