Mercer Global Advisors Inc. ADV Makes New $2.99 Million Investment in CNO Financial Group, Inc. (NYSE:CNO)

Mercer Global Advisors Inc. ADV bought a new stake in CNO Financial Group, Inc. (NYSE:CNO - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 80,464 shares of the financial services provider's stock, valued at approximately $2,994,000. Mercer Global Advisors Inc. ADV owned about 0.08% of CNO Financial Group as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of CNO. Jones Financial Companies Lllp lifted its position in CNO Financial Group by 368.2% in the 4th quarter. Jones Financial Companies Lllp now owns 796 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 626 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of CNO Financial Group by 95.2% during 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 last quarter. Principal Securities Inc. raised its holdings in shares of CNO Financial Group by 51.6% during the fourth quarter. Principal Securities Inc. now owns 955 shares of the financial services provider's stock valued at $36,000 after buying an additional 325 shares during the last quarter. Quarry LP boosted its position 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 during the period. Finally, Headlands Technologies LLC grew its holdings in CNO Financial Group by 193.2% in the 4th quarter. Headlands Technologies LLC now owns 1,337 shares of the financial services provider's stock worth $50,000 after buying an additional 881 shares in the last quarter. Institutional investors and hedge funds own 95.43% of the company's stock.

CNO Financial Group Price Performance

CNO Financial Group stock traded up $0.03 during midday trading on Friday, hitting $37.72. The company's stock had a trading volume of 738,298 shares, compared to its average volume of 710,930. CNO Financial Group, Inc. has a 12 month low of $26.36 and a 12 month high of $43.20. The company has a quick ratio of 0.19, a current ratio of 0.22 and a debt-to-equity ratio of 1.61. The company has a market capitalization of $3.74 billion, a PE ratio of 10.09 and a beta of 0.90. The stock's 50-day moving average price is $39.18 and its 200-day moving average price is $38.82.

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

CNO Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 24th. Investors of record on Tuesday, June 10th will be paid a $0.17 dividend. This is a positive change from CNO Financial Group's previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $0.68 dividend on an annualized basis and a yield of 1.80%. CNO Financial Group's dividend payout ratio (DPR) is currently 23.78%.

Insiders Place Their Bets

In related news, insider Scott L. Goldberg sold 25,500 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $40.11, for a total transaction of $1,022,805.00. Following the completion of the sale, the insider now directly owns 169,342 shares in the company, valued at approximately $6,792,307.62. This trade represents a 13.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Matthew J. Zimpfer sold 40,800 shares of CNO Financial Group stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $40.10, for a total value of $1,636,080.00. Following the sale, the general counsel now owns 204,143 shares of the company's stock, valued at approximately $8,186,134.30. This represents a 16.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 159,512 shares of company stock worth $6,497,710. Corporate insiders own 3.00% of the company's stock.

Analysts Set New Price Targets

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

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.