Pinebridge Investments L.P. Raises Position in CNO Financial Group, Inc. (NYSE:CNO)

Pinebridge Investments L.P. lifted its stake in CNO Financial Group, Inc. (NYSE:CNO - Free Report) by 42.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 54,267 shares of the financial services provider's stock after purchasing an additional 16,233 shares during the period. Pinebridge Investments L.P. owned 0.05% of CNO Financial Group worth $2,019,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of CNO. State of Tennessee Department of Treasury lifted its holdings in CNO Financial Group by 19.9% in the fourth quarter. State of Tennessee Department of Treasury now owns 56,337 shares of the financial services provider's stock worth $2,096,000 after buying an additional 9,362 shares during the period. MetLife Investment Management LLC lifted its stake in shares of CNO Financial Group by 6.8% in the 4th quarter. MetLife Investment Management LLC now owns 119,974 shares of the financial services provider's stock valued at $4,464,000 after purchasing an additional 7,635 shares during the period. First Trust Advisors LP boosted its position in shares of CNO Financial Group by 34.9% during the fourth quarter. First Trust Advisors LP now owns 155,006 shares of the financial services provider's stock valued at $5,768,000 after purchasing an additional 40,122 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in CNO Financial Group by 10.0% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 107,921 shares of the financial services provider's stock worth $4,015,000 after purchasing an additional 9,772 shares during the period. Finally, Keeley Teton Advisors LLC bought a new position in CNO Financial Group in the fourth quarter worth $1,586,000. Institutional investors own 95.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CNO. Royal Bank of Canada boosted their target price on shares of CNO Financial Group from $40.00 to $45.00 and gave the company an "outperform" rating in a report on Monday, February 10th. Piper Sandler upped their price objective on shares of CNO Financial Group from $46.00 to $49.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. BMO Capital Markets assumed coverage on shares of CNO Financial Group in a research note on Thursday, January 23rd. They set a "market perform" rating and a $38.00 target price for the company. Finally, Keefe, Bruyette & Woods boosted their price target on 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 investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $41.00.

Insider Activity at CNO Financial Group

In other CNO Financial Group news, General Counsel Matthew J. Zimpfer sold 40,800 shares of CNO Financial Group stock in a transaction that occurred on 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 completion of the sale, the general counsel now owns 204,143 shares of the company's stock, valued at approximately $8,186,134.30. The trade was a 16.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Scott L. Goldberg sold 25,500 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $40.11, for a total value of $1,022,805.00. Following the transaction, the insider now directly owns 169,342 shares in the company, valued at $6,792,307.62. The trade was a 13.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 159,512 shares of company stock valued at $6,497,710 over the last ninety days. Insiders own 3.38% of the company's stock.

CNO Financial Group Stock Up 3.0 %

NYSE:CNO traded up $1.10 on Friday, reaching $38.22. 732,305 shares of the stock traded hands, compared to its average volume of 712,186. 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 company has a market capitalization of $3.83 billion, a price-to-earnings ratio of 10.22 and a beta of 0.90. CNO Financial Group, Inc. has a 12 month low of $26.36 and a 12 month high of $43.20. The company's fifty day simple moving average is $39.54 and its 200 day simple moving average is $38.78.

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

CNO Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Tuesday, June 10th will be issued a dividend of $0.17 per share. This is an increase from CNO Financial Group's previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.78%. CNO Financial Group's dividend payout ratio is presently 22.38%.

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.