Victory Capital Management Inc. Has $24.56 Million Stock Holdings in CNO Financial Group, Inc. $CNO

Key Points

• Victory Capital trimmed its stake in CNO by 14.1% in Q3 and now owns 621,065 shares worth about $24.56 million, while institutional investors hold roughly 95.43% of the stock.
• Company insiders sold a total of 226,431 shares (~$9.72 million) in the last quarter — including sales by the CMO and general counsel — and insiders currently own 3.38% of CNO.
• CNO beat quarterly EPS estimates ($1.47 vs. $1.20), reported a 15.8% return on equity, and declared a quarterly dividend of $0.17 (annualized yield ~1.7%, ex-dividend Mar 10).

Victory Capital Management Inc. trimmed its holdings in shares of CNO Financial Group, Inc. (NYSE:CNO - Free Report) by 14.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 621,065 shares of the financial services provider's stock after selling 101,652 shares during the period. Victory Capital Management Inc. owned approximately 0.64% of CNO Financial Group worth $24,563,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Optiver Holding B.V. increased its stake in CNO Financial Group by 90.1% in the third quarter. Optiver Holding B.V. now owns 637 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 302 shares during the period. Smartleaf Asset Management LLC boosted its holdings in CNO Financial Group by 353.0% during the third quarter. Smartleaf Asset Management LLC now owns 743 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 579 shares in the last quarter. First Horizon Corp acquired a new stake in CNO Financial Group during the third quarter valued at approximately $32,000. EverSource Wealth Advisors LLC grew its stake in shares of CNO Financial Group by 123.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,176 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 649 shares during the period. Finally, Osaic Holdings Inc. grew its stake in shares of CNO Financial Group by 39.2% in the 2nd quarter. Osaic Holdings Inc. now owns 1,194 shares of the financial services provider's stock valued at $46,000 after purchasing an additional 336 shares during the period. 95.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at CNO Financial Group

In other CNO Financial Group news, CMO Rocco F. Tarasi III sold 9,283 shares of the firm's stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $42.60, for a total value of $395,455.80. Following the completion of the sale, the chief marketing officer owned 73,932 shares in the company, valued at approximately $3,149,503.20. This trade represents a 11.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Matthew J. Zimpfer sold 33,800 shares of the business's stock in a transaction dated 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 directly owned 307,937 shares of the company's stock, valued at approximately $13,256,687.85. This represents a 9.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 226,431 shares of company stock worth $9,715,996 in the last quarter. Insiders own 3.38% of the company's stock.

CNO Financial Group Trading Down 0.8%

CNO stock opened at $41.21 on Tuesday. The business has a fifty day moving average price of $42.34 and a 200 day moving average price of $41.05. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.17 and a quick ratio of 0.17. CNO Financial Group, Inc. has a fifty-two week low of $34.63 and a fifty-two week high of $44.85. The stock has a market capitalization of $3.89 billion, a price-to-earnings ratio of 18.48 and a beta of 0.83.

CNO Financial Group (NYSE:CNO - Get Free Report) last posted its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.47 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $101.10 million for the quarter, compared to analyst estimates of $1 billion. During the same quarter in the previous year, the firm earned $1.18 earnings per share. The business's revenue was up 4.2% on a year-over-year basis. Analysts expect that CNO Financial Group, Inc. will post 3.83 EPS for the current fiscal year.

CNO Financial Group Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms recently commented on CNO. Weiss Ratings restated a "buy (b)" rating on shares of CNO Financial Group in a research report on Wednesday, January 21st. Evercore reissued an "underperform" rating and set a $43.00 price objective on shares of CNO Financial Group in a report on Wednesday, February 18th. Piper Sandler boosted their target price on shares of CNO Financial Group from $46.00 to $50.00 and gave the company an "overweight" rating in a research note on Tuesday, December 23rd. Wall Street Zen upgraded shares of CNO Financial Group from a "hold" rating to a "buy" rating in a research report on Saturday, February 28th. Finally, Jefferies Financial Group raised shares of CNO Financial Group from a "hold" rating to a "buy" rating and lifted their price target for the company from $42.00 to $47.00 in a report on Monday, December 15th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, CNO Financial Group currently has an average rating of "Hold" and a consensus target price of $46.25.

CNO Financial Group 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.

Want to see what other hedge funds are holding CNO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CNO Financial Group, Inc. (NYSE:CNO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.