Retirement Systems of Alabama Sells 62,411 Shares of CNO Financial Group, Inc. (NYSE:CNO)

Retirement Systems of Alabama lowered its holdings in shares of CNO Financial Group, Inc. (NYSE:CNO - Free Report) by 19.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 252,683 shares of the financial services provider's stock after selling 62,411 shares during the quarter. Retirement Systems of Alabama owned about 0.25% of CNO Financial Group worth $10,524,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Principal Securities Inc. raised its holdings in CNO Financial Group by 51.6% in the 4th quarter. Principal Securities Inc. now owns 955 shares of the financial services provider's stock worth $36,000 after acquiring an additional 325 shares during the period. Mariner LLC boosted its position in shares of CNO Financial Group by 6.7% during the 4th quarter. Mariner LLC now owns 6,116 shares of the financial services provider's stock valued at $228,000 after acquiring an additional 385 shares in the last quarter. HighTower Advisors LLC boosted its position in shares of CNO Financial Group by 5.3% during the 4th quarter. HighTower Advisors LLC now owns 7,873 shares of the financial services provider's stock valued at $293,000 after acquiring an additional 394 shares in the last quarter. Corient Private Wealth LLC boosted its position in shares of CNO Financial Group by 2.6% during the 4th quarter. Corient Private Wealth LLC now owns 15,634 shares of the financial services provider's stock valued at $582,000 after acquiring an additional 400 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in shares of CNO Financial Group by 95.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 855 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 417 shares in the last quarter. Institutional investors own 95.43% of the company's stock.

Insider Buying and Selling

In other CNO Financial Group news, insider Yvonne K. Franzese sold 2,013 shares of the company's stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $42.18, for a total value of $84,908.34. Following the completion of the sale, the insider now owns 26,994 shares of the company's stock, valued at approximately $1,138,606.92. This represents a 6.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeremy David Williams sold 11,300 shares of the company's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $41.51, for a total transaction of $469,063.00. Following the completion of the transaction, the insider now owns 65,299 shares of the company's stock, valued at $2,710,561.49. This trade represents a 14.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,803 shares of company stock valued at $784,945 over the last ninety days. Insiders own 3.38% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler boosted their price target on shares of 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 assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $41.00.

CNO Financial Group Trading Up 1.0%

Shares of NYSE CNO opened at $37.44 on Monday. CNO Financial Group, Inc. has a 1-year low of $27.24 and a 1-year high of $43.20. The company has a market cap of $3.71 billion, a PE ratio of 13.09 and a beta of 0.89. 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 50-day moving average of $38.01 and a two-hundred day moving average of $38.79.

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, hitting 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 company had revenue of $1 billion during the quarter, compared to the consensus estimate of $975.80 million. During the same period in the previous year, the firm posted $0.52 earnings per share. The company's revenue was down 13.2% on a year-over-year basis. As a group, equities analysts expect that CNO Financial Group, Inc. will post 3.83 earnings per share for the current fiscal year.

CNO Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 24th. Investors 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 1.82%. 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 payout ratio is 23.78%.

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.

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