CNO Financial Group, Inc. (NYSE:CNO) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its position in CNO Financial Group, Inc. (NYSE:CNO - Free Report) by 4.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,678,886 shares of the financial services provider's stock after selling 77,011 shares during the quarter. Principal Financial Group Inc. owned 1.67% of CNO Financial Group worth $69,926,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in CNO. Bank of America Corp DE raised its stake in shares of 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 worth $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 in the 4th quarter valued at approximately $15,093,000. Balyasny Asset Management L.P. acquired a new position in CNO Financial Group in the 4th quarter valued at approximately $14,270,000. Norges Bank acquired a new position in shares of CNO Financial Group in the 4th quarter worth approximately $13,975,000. Finally, JPMorgan Chase & Co. increased 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 purchasing an additional 372,701 shares in the last quarter. Institutional investors and hedge funds own 95.43% of the company's stock.

CNO Financial Group Price Performance

Shares of CNO traded down $0.79 during mid-day trading on Wednesday, reaching $36.75. 262,603 shares of the stock traded hands, compared to its average volume of 706,441. The company has a market cap of $3.64 billion, a price-to-earnings ratio of 12.83 and a beta of 0.87. CNO Financial Group, Inc. has a 1 year low of $27.72 and a 1 year high of $43.20. The firm has a fifty day moving average price of $37.88 and a 200 day moving average price of $38.82. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.59.

CNO Financial Group (NYSE:CNO - Get Free Report) last announced its earnings results on Monday, April 28th. The financial services provider reported $0.79 earnings per share for the quarter, meeting analysts' consensus estimates of $0.79. CNO Financial Group had a net margin of 7.11% and a return on equity of 17.86%. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $975.80 million. During the same quarter last year, the firm earned $0.52 earnings per share. The business's revenue for the quarter was down 13.2% on a year-over-year basis. As a group, equities research analysts predict that CNO Financial Group, Inc. will post 3.83 earnings per share for the current year.

CNO Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 24th. Shareholders of record on Tuesday, June 10th were issued a $0.17 dividend. This is an increase from CNO Financial Group's previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date was Tuesday, June 10th. CNO Financial Group's payout ratio is currently 23.78%.

Insider Buying and Selling at CNO Financial Group

In other news, insider Michael E. Mead sold 12,581 shares of the business's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $37.97, for a total value of $477,700.57. Following the sale, the insider directly 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 at the SEC website. 3.38% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, Piper Sandler increased their price objective 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 research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the 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.