Tudor Investment Corp ET AL Grows Stake in CNO Financial Group, Inc. $CNO

Key Points

• Tudor Investment Corp ET AL increased its stake in CNO by 16.5%, buying 62,615 shares to hold 441,205 shares worth about $17.45 million, and institutional investors now own roughly 95.4% of the stock.
• Company insiders have sold a total of 217,148 shares worth approximately $9.32 million over the last 90 days, reducing insider ownership to about 3.0%.
• Analyst coverage is mixed with a MarketBeat consensus rating of Hold and an average target of $46.25, despite recent upgrades from Jefferies and Piper Sandler; CNO also announced a quarterly dividend of $0.17 (1.7% yield) payable March 24.

Tudor Investment Corp ET AL grew its holdings in shares of CNO Financial Group, Inc. (NYSE:CNO - Free Report) by 16.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 441,205 shares of the financial services provider's stock after buying an additional 62,615 shares during the period. Tudor Investment Corp ET AL owned 0.46% of CNO Financial Group worth $17,450,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cambria Investment Management L.P. increased its position in CNO Financial Group by 20.4% during the 3rd quarter. Cambria Investment Management L.P. now owns 16,270 shares of the financial services provider's stock valued at $643,000 after purchasing an additional 2,762 shares during the period. CIBC Bancorp USA Inc. bought a new position in CNO Financial Group in the third quarter worth about $406,000. Jacobs Levy Equity Management Inc. lifted its holdings in CNO Financial Group by 0.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 494,955 shares of the financial services provider's stock worth $19,575,000 after buying an additional 2,950 shares during the period. Caxton Associates LLP purchased a new stake in CNO Financial Group in the third quarter worth about $612,000. Finally, Voleon Capital Management LP bought a new stake in CNO Financial Group during the 3rd quarter valued at approximately $510,000. Institutional investors own 95.43% of the company's stock.

Analyst Ratings Changes

CNO has been the subject of several research reports. Weiss Ratings reissued a "buy (b)" rating on shares of CNO Financial Group in a research report on Wednesday, January 21st. Evercore reiterated an "underperform" rating and issued a $43.00 price objective on shares of CNO Financial Group in a report on Wednesday, February 18th. Piper Sandler raised their price objective on CNO Financial Group from $46.00 to $50.00 and gave the company an "overweight" rating in a research report on Tuesday, December 23rd. Jefferies Financial Group upgraded shares of CNO Financial Group from a "hold" rating to a "buy" rating and boosted their target price for the company from $42.00 to $47.00 in a report on Monday, December 15th. Finally, Wall Street Zen raised shares of CNO Financial Group from a "hold" rating to a "buy" rating in a research report on Saturday, February 28th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $46.25.

Insider Activity

In related news, insider Yvonne K. Franzese sold 9,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $43.17, for a total transaction of $388,530.00. Following the completion of the sale, the insider owned 35,062 shares of the company's stock, valued at $1,513,626.54. This trade represents a 20.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Matthew J. Zimpfer sold 33,800 shares of the business's stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $43.05, for a total transaction of $1,455,090.00. Following the completion of the transaction, the general counsel owned 307,937 shares of the company's stock, valued at approximately $13,256,687.85. The trade was a 9.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 217,148 shares of company stock worth $9,320,540 over the last 90 days. 3.00% of the stock is currently owned by insiders.

CNO Financial Group Stock Down 0.5%

CNO stock opened at $39.72 on Friday. The business has a 50 day moving average of $41.83 and a 200 day moving average of $41.07. The firm has a market cap of $3.74 billion, a PE ratio of 17.81 and a beta of 0.83. CNO Financial Group, Inc. has a twelve month low of $34.63 and a twelve month high of $44.85. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 1.43.

CNO Financial Group (NYSE:CNO - Get Free Report) last released its earnings results on Thursday, February 5th. The financial services provider reported $1.47 EPS for the quarter, topping the consensus estimate of $1.20 by $0.27. CNO Financial Group had a return on equity of 15.80% and a net margin of 4.94%.The business had revenue of $101.10 million for the quarter, compared to the consensus estimate of $1 billion. During the same period in the previous year, the company posted $1.18 earnings per share. The company's revenue for the quarter was up 4.2% compared to the same quarter last year. On average, research analysts forecast that CNO Financial Group, Inc. will post 3.83 EPS for the current fiscal year.

CNO Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Tuesday, March 10th. CNO Financial Group's dividend payout ratio is currently 30.49%.

CNO Financial Group Company Profile

CNO Financial Group is an Indiana‐based holding company that offers a range of insurance and retirement solutions through its operating subsidiaries. Its primary business activities include life insurance, annuities, and supplemental health insurance products designed to help individuals plan for retirement and manage health‐related expenses. The company serves middle‐income Americans, with particular emphasis on senior customers seeking guaranteed coverage and reliable income streams.

Originally founded as Conseco in 1979, the company underwent a financial restructuring and rebranded as CNO Financial Group in 2010.

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