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

Retirement Systems of Alabama cut its stake in CNO Financial Group, Inc. (NYSE:CNO - Free Report) by 19.8% in the 1st 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Principal Securities Inc. raised its stake in CNO Financial Group by 51.6% in the fourth quarter. Principal Securities Inc. now owns 955 shares of the financial services provider's stock worth $36,000 after buying an additional 325 shares in the last quarter. Mariner LLC grew its holdings 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 worth $228,000 after acquiring an additional 385 shares during the period. HighTower Advisors LLC grew its holdings 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 worth $293,000 after acquiring an additional 394 shares during the period. Corient Private Wealth LLC raised its position in shares of CNO Financial Group by 2.6% in the 4th quarter. Corient Private Wealth LLC now owns 15,634 shares of the financial services provider's stock worth $582,000 after acquiring an additional 400 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in shares of CNO Financial Group by 95.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 855 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 417 shares during the period. 95.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler upped their price target on CNO Financial Group from $46.00 to $49.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $41.00.

CNO Financial Group Stock Up 2.3%

CNO traded up $0.85 during midday trading on Thursday, reaching $38.31. The company's stock had a trading volume of 512,758 shares, compared to its average volume of 705,716. The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of 13.39 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. CNO Financial Group, Inc. has a 1 year low of $27.34 and a 1 year high of $43.20. The stock's 50-day moving average is $37.99 and its 200-day moving average is $38.76.

CNO Financial Group (NYSE:CNO - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The financial services provider reported $0.79 EPS for the quarter, hitting analysts' consensus estimates of $0.79. The firm had revenue of $1 billion for the quarter, compared to analysts' expectations of $975.80 million. CNO Financial Group had a return on equity of 17.86% and a net margin of 7.11%. The business's revenue for the quarter was down 13.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 EPS. As a group, research analysts expect that CNO Financial Group, Inc. will post 3.83 EPS for the current year.

CNO Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 24th. Shareholders of record on Tuesday, June 10th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.78%. This is an increase from CNO Financial Group's previous quarterly dividend of $0.16. The ex-dividend date was Tuesday, June 10th. CNO Financial Group's payout ratio is 23.78%.

Insider Transactions at CNO Financial Group

In related news, insider Jeremy David Williams sold 3,393 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $41.77, for a total value of $141,725.61. Following the transaction, the insider now owns 56,599 shares in the company, valued at $2,364,140.23. The trade was a 5.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Yvonne K. Franzese sold 2,013 shares of the firm's stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $42.18, for a total transaction of $84,908.34. Following 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 16,706 shares of company stock valued at $695,697. Insiders own 3.00% of the company's stock.

About CNO Financial Group

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.