Man Group plc Reduces Stake in CNO Financial Group, Inc. (NYSE:CNO)

Man Group plc cut its stake in CNO Financial Group, Inc. (NYSE:CNO - Free Report) by 36.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 493,332 shares of the financial services provider's stock after selling 284,721 shares during the period. Man Group plc owned approximately 0.48% of CNO Financial Group worth $18,357,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Jones Financial Companies Lllp boosted its holdings in CNO Financial Group by 368.2% in the fourth quarter. Jones Financial Companies Lllp now owns 796 shares of the financial services provider's stock worth $30,000 after purchasing an additional 626 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of CNO Financial Group by 95.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 855 shares of the financial services provider's stock valued at $32,000 after buying an additional 417 shares during the period. Principal Securities Inc. raised its position 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 purchasing an additional 325 shares in the last quarter. Headlands Technologies LLC raised its position in CNO Financial Group by 193.2% in the fourth quarter. Headlands Technologies LLC now owns 1,337 shares of the financial services provider's stock worth $50,000 after purchasing an additional 881 shares in the last quarter. Finally, Quarry LP increased its holdings in shares of CNO Financial Group by 137.8% during the fourth quarter. Quarry LP now owns 1,334 shares of the financial services provider's stock worth $50,000 after buying an additional 773 shares in the last quarter. Institutional investors and hedge funds own 95.43% of the company's stock.

Analysts Set New Price Targets

CNO has been the subject of a number of analyst reports. Royal Bank of Canada lifted their target price on shares of CNO Financial Group from $40.00 to $45.00 and gave the stock an "outperform" rating in a report on Monday, February 10th. Piper Sandler upped their target price on shares of CNO Financial Group from $46.00 to $49.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. BMO Capital Markets initiated coverage on shares of CNO Financial Group in a research note on Thursday, January 23rd. They issued a "market perform" rating and a $38.00 price target on the stock. Finally, Keefe, Bruyette & Woods increased their target price on shares of CNO Financial Group from $42.00 to $44.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, CNO Financial Group currently has an average rating of "Hold" and an average target price of $41.00.

Insider Buying and Selling

In other CNO Financial Group news, General Counsel Matthew J. Zimpfer sold 40,800 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $41.49, for a total transaction of $1,692,792.00. Following the sale, the general counsel now owns 244,943 shares in the company, valued at approximately $10,162,685.07. This trade represents a 14.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeremy David Williams sold 11,300 shares of the business's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $41.51, for a total transaction of $469,063.00. Following the completion of the sale, the insider now owns 65,299 shares in the company, valued at $2,710,561.49. This represents a 14.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 159,512 shares of company stock worth $6,497,710 in the last three months. 3.00% of the stock is owned by corporate insiders.

CNO Financial Group Stock Performance

Shares of NYSE CNO traded up $0.44 during midday trading on Tuesday, hitting $39.21. The company's stock had a trading volume of 858,589 shares, compared to its average volume of 713,268. The stock has a fifty day moving average price of $39.09 and a 200 day moving average price of $39.04. CNO Financial Group, Inc. has a one year low of $26.36 and a one year high of $43.20. The company has a current ratio of 0.22, a quick ratio of 0.19 and a debt-to-equity ratio of 1.61. The firm has a market capitalization of $3.89 billion, a price-to-earnings ratio of 10.48 and a beta of 0.90.

CNO Financial Group (NYSE:CNO - Get Free Report) last released 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. CNO Financial Group had a net margin of 9.08% and a return on equity of 17.20%. The business had revenue of $1 billion during the quarter, compared to analysts' expectations of $975.80 million. During the same quarter in the previous year, the company earned $0.52 EPS. The business's quarterly revenue was down 13.2% 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 24th. Shareholders of record on Tuesday, June 10th will be issued a $0.17 dividend. The ex-dividend date is Tuesday, June 10th. This is a positive change from CNO Financial Group's previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 1.73%. CNO Financial Group's dividend payout ratio is 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.