Vest Financial LLC Buys New Position in CNO Financial Group, Inc. (NYSE:CNO)

Vest Financial LLC bought a new stake in shares of CNO Financial Group, Inc. (NYSE:CNO - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 69,225 shares of the financial services provider's stock, valued at approximately $2,883,000. Vest Financial LLC owned approximately 0.07% of CNO Financial Group at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Bank of America Corp DE increased its holdings in shares of 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 during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of CNO Financial Group in the fourth quarter valued at about $15,093,000. Balyasny Asset Management L.P. acquired a new position in shares of CNO Financial Group in the fourth quarter valued at about $14,270,000. Norges Bank acquired a new position in shares of CNO Financial Group in the fourth quarter valued at about $13,975,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of CNO Financial Group by 41.3% in the fourth 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 during the period. 95.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other CNO Financial Group news, insider Jeremy David Williams sold 3,393 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $41.77, for a total transaction of $141,725.61. Following the transaction, the insider now owns 56,599 shares in the company, valued at approximately $2,364,140.23. This represents a 5.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Yvonne K. Franzese sold 8,109 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $42.00, for a total value of $340,578.00. Following the transaction, the insider now owns 38,540 shares in the company, valued at $1,618,680. This represents a 17.38% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,912 shares of company stock worth $1,125,523. 3.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CNO shares. Royal Bank of Canada increased their price objective on CNO Financial Group from $40.00 to $45.00 and gave the company an "outperform" rating in a report on Monday, February 10th. Keefe, Bruyette & Woods increased their price objective on CNO Financial Group from $42.00 to $44.00 and gave the company a "market perform" rating in a report on Wednesday, February 12th. Finally, Piper Sandler raised their target price on CNO Financial Group from $46.00 to $49.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $41.00.

CNO Financial Group Stock Up 2.1%

CNO Financial Group stock opened at $38.64 on Friday. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of 10.33 and a beta of 0.89. CNO Financial Group, Inc. has a 52 week low of $26.36 and a 52 week high of $43.20. The business's 50-day moving average price is $38.12 and its 200 day moving average price is $38.96. The company has a quick ratio of 0.19, a current ratio of 0.22 and a debt-to-equity ratio of 1.61.

CNO Financial Group (NYSE:CNO - Get Free Report) last posted its earnings results on Monday, April 28th. The financial services provider reported $0.79 EPS for the quarter, hitting the consensus estimate of $0.79. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $975.80 million. CNO Financial Group had a return on equity of 17.20% and a net margin of 9.08%. CNO Financial Group's revenue for the quarter was down 13.2% compared to the same quarter last year. During the same period last year, the company earned $0.52 earnings per share. As a group, sell-side analysts anticipate that CNO Financial Group, Inc. will post 3.83 earnings per share for the current year.

CNO Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 24th. Shareholders of record on Tuesday, June 10th will be given a dividend of $0.17 per share. The ex-dividend date is Tuesday, June 10th. This represents a $0.68 dividend on an annualized basis and a yield of 1.76%. This is an increase from CNO Financial Group's previous quarterly dividend of $0.16. CNO Financial Group's dividend payout ratio is currently 23.78%.

CNO Financial Group 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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