Weiss Asset Management LP Purchases New Holdings in CNO Financial Group, Inc. $CNO

Key Points

• Weiss Asset Management initiated a position in CNO Financial Group worth approximately $1.14 million, while other institutions also increased their holdings or opened new positions. Institutional investors collectively own 95.43% of the company.
• CNO shares opened at $53.12, near their 52-week high of $54.09, with a market capitalization of about $4.96 billion. The company raised its quarterly dividend to $0.18 per share, representing a 1.4% annual yield.
• Analysts maintain a generally neutral outlook, with an average “Hold” rating and a consensus price target of $51.50. Meanwhile, insiders sold roughly 95,106 shares worth $4.88 million over the past three months under pre-arranged trading plans.

Weiss Asset Management LP acquired a new position in CNO Financial Group, Inc. (NYSE:CNO - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 27,800 shares of the financial services provider's stock, valued at approximately $1,141,000.

Several other institutional investors have also added to or reduced their stakes in the company. Caxton Associates LLP grew its stake in shares of CNO Financial Group by 5.6% during the first quarter. Caxton Associates LLP now owns 25,850 shares of the financial services provider's stock valued at $1,061,000 after buying an additional 1,362 shares during the last quarter. Sei Investments Co. raised its holdings in shares of CNO Financial Group by 13.5% in the first quarter. Sei Investments Co. now owns 388,332 shares of the financial services provider's stock worth $15,944,000 after buying an additional 46,308 shares during the period. Globeflex Capital L P purchased a new position in CNO Financial Group during the 1st quarter valued at $371,000. State of Wyoming bought a new position in CNO Financial Group in the 1st quarter valued at $436,000. Finally, Cetera Investment Advisers grew its position in CNO Financial Group by 5.1% in the 1st quarter. Cetera Investment Advisers now owns 23,430 shares of the financial services provider's stock valued at $962,000 after acquiring an additional 1,132 shares during the last quarter. Institutional investors own 95.43% of the company's stock.

CNO Financial Group Stock Performance

CNO stock opened at $53.12 on Tuesday. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.17 and a quick ratio of 0.17. The business has a 50-day moving average price of $50.45 and a 200 day moving average price of $45.33. The company has a market capitalization of $4.96 billion, a P/E ratio of 21.33 and a beta of 0.81. CNO Financial Group, Inc. has a 1-year low of $35.24 and a 1-year high of $54.09.

CNO Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 10th were given a dividend of $0.18 per share. This is a positive change from CNO Financial Group's previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $0.72 dividend on an annualized basis and a yield of 1.4%. CNO Financial Group's payout ratio is 28.92%.

Wall Street Analyst Weigh In

CNO has been the topic of several recent analyst reports. Evercore set a $48.00 price target on shares of CNO Financial Group and gave the stock an "in-line" rating in a research note on Monday, June 1st. Keefe, Bruyette & Woods boosted their price objective on shares of CNO Financial Group from $50.00 to $53.00 and gave the company a "market perform" rating in a research report on Monday, July 13th. Weiss Ratings restated a "buy (b)" rating on shares of CNO Financial Group in a research note on Friday, July 17th. Finally, Jefferies Financial Group cut CNO Financial Group from a "buy" rating to a "hold" rating and increased their price objective for the stock from $53.00 to $55.00 in a research note on Friday, July 10th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, CNO Financial Group presently has an average rating of "Hold" and a consensus target price of $51.50.

Insider Transactions at CNO Financial Group

In other news, CMO Rocco F. Tarasi III sold 5,750 shares of the business's stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $50.00, for a total value of $287,500.00. Following the completion of the sale, the chief marketing officer owned 79,191 shares in the company, valued at approximately $3,959,550. The trade was a 6.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gary C. Bhojwani sold 86,048 shares of the company's stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $51.48, for a total transaction of $4,429,751.04. Following the completion of the sale, the chief executive officer directly owned 174,264 shares of the company's stock, valued at $8,971,110.72. The trade was a 33.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 95,106 shares of company stock worth $4,879,343 in the last three months. Insiders own 3.44% of the company's stock.

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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