ProShare Advisors LLC boosted its stake in shares of CNO Financial Group, Inc. (NYSE:CNO - Free Report) by 40.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,489 shares of the financial services provider's stock after purchasing an additional 9,975 shares during the quarter. ProShare Advisors LLC's holdings in CNO Financial Group were worth $1,283,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Bank of America Corp DE boosted its holdings in CNO Financial Group by 236.9% in the fourth quarter. Bank of America Corp DE now owns 922,411 shares of the financial services provider's stock valued at $34,323,000 after purchasing an additional 648,591 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of CNO Financial Group in the 4th quarter valued at $14,270,000. Norges Bank acquired a new position in shares of CNO Financial Group in the 4th quarter valued at $13,975,000. JPMorgan Chase & Co. grew its position 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 last quarter. Finally, American Century Companies Inc. raised its stake in CNO Financial Group by 11.7% during the 4th quarter. American Century Companies Inc. now owns 2,687,861 shares of the financial services provider's stock worth $100,015,000 after acquiring an additional 282,611 shares in the last quarter. Institutional investors and hedge funds own 95.43% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on CNO shares. Royal Bank of Canada upped their target price on CNO Financial Group from $40.00 to $45.00 and gave the company an "outperform" rating in a research report on Monday, February 10th. Keefe, Bruyette & Woods upped their price target on shares of CNO Financial Group from $42.00 to $44.00 and gave the company a "market perform" rating in a research report on Wednesday, February 12th. Finally, Piper Sandler upped their target price on shares of CNO Financial Group from $46.00 to $49.00 and gave the company an "overweight" rating in a report 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 issued a buy rating to the company's stock. According to data from MarketBeat.com, CNO Financial Group currently has an average rating of "Hold" and a consensus price target of $41.00.
Check Out Our Latest Research Report on CNO Financial Group
Insider Transactions at CNO Financial Group
In related news, insider Scott L. Goldberg sold 25,500 shares of the company's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $40.02, for a total transaction of $1,020,510.00. Following the transaction, the insider now owns 169,342 shares of the company's stock, valued at $6,777,066.84. This represents a 13.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Yvonne K. Franzese sold 2,097 shares of the firm's stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $42.56, for a total value of $89,248.32. Following the completion of the sale, the insider now directly owns 30,321 shares of the company's stock, valued at approximately $1,290,461.76. This trade represents a 6.47% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 77,912 shares of company stock valued at $3,168,838. Corporate insiders own 3.00% of the company's stock.
CNO Financial Group Stock Performance
NYSE:CNO traded down $0.27 during midday trading on Wednesday, reaching $37.92. The stock had a trading volume of 58,734 shares, compared to its average volume of 711,586. The company has a quick ratio of 0.19, a current ratio of 0.22 and a debt-to-equity ratio of 1.61. The stock has a market cap of $3.76 billion, a P/E ratio of 10.14 and a beta of 0.90. The firm has a fifty day simple moving average of $38.75 and a two-hundred day simple moving average of $39.03. CNO Financial Group, Inc. has a 12-month low of $26.36 and a 12-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 earnings per share for the quarter, meeting the consensus estimate of $0.79. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $975.80 million. CNO Financial Group had a net margin of 9.08% and a return on equity of 17.20%. The business's quarterly revenue was down 13.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.52 earnings per share. On average, equities analysts expect that CNO Financial Group, Inc. will post 3.83 EPS for the current year.
CNO Financial Group Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Tuesday, June 10th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.79%. This is an increase from CNO Financial Group's previous quarterly dividend of $0.16. The ex-dividend date is Tuesday, June 10th. CNO Financial Group's dividend payout ratio is 23.78%.
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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