Raymond James Financial Inc. Purchases New Shares in CNO Financial Group, Inc. (NYSE:CNO)

Raymond James Financial Inc. purchased a new stake in shares of CNO Financial Group, Inc. (NYSE:CNO - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 61,676 shares of the financial services provider's stock, valued at approximately $2,295,000. Raymond James Financial Inc. owned about 0.06% of CNO Financial Group at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of CNO. Jones Financial Companies Lllp lifted its position 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 valued at $30,000 after buying an additional 626 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in CNO Financial Group by 95.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 855 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 417 shares during the last quarter. 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 valued at $36,000 after purchasing an additional 325 shares during the period. Headlands Technologies LLC lifted its stake in CNO Financial Group by 193.2% during 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, Sound Income Strategies LLC purchased a new position in shares of CNO Financial Group during the fourth quarter worth $54,000. Hedge funds and other institutional investors own 95.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CNO shares. Royal Bank of Canada boosted their price objective on CNO Financial Group from $40.00 to $45.00 and gave the company an "outperform" rating in a report on Monday, February 10th. BMO Capital Markets assumed coverage on shares of CNO Financial Group in a research report on Thursday, January 23rd. They set a "market perform" rating and a $38.00 price target on the stock. Piper Sandler lifted their price objective 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. 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 report on Wednesday, February 12th. One research 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.com, CNO Financial Group has a consensus rating of "Hold" and an average price target of $41.00.

Insider Transactions at CNO Financial Group

In related news, General Counsel Matthew J. Zimpfer sold 40,800 shares of CNO Financial Group stock in a transaction 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 directly owns 244,943 shares in the company, valued at $10,162,685.07. This trade represents a 14.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Yvonne K. Franzese sold 2,013 shares of the business's stock in a transaction on Friday, March 28th. The shares were sold at an average price of $42.18, for a total transaction of $84,908.34. Following the completion of the sale, the insider now directly owns 26,994 shares of the company's stock, valued at approximately $1,138,606.92. This trade represents a 6.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 159,512 shares of company stock valued at $6,497,710. Corporate insiders own 3.00% of the company's stock.

CNO Financial Group Stock Up 0.5 %

CNO Financial Group stock traded up $0.18 during trading on Tuesday, reaching $37.53. The stock had a trading volume of 512,911 shares, compared to its average volume of 711,679. The company has a quick ratio of 0.19, a current ratio of 0.22 and a debt-to-equity ratio of 1.61. CNO Financial Group, Inc. has a 52-week low of $26.36 and a 52-week high of $43.20. The stock has a market cap of $3.76 billion, a PE ratio of 10.04 and a beta of 0.90. The business has a 50 day moving average price of $39.39 and a 200 day moving average price of $38.80.

CNO Financial Group (NYSE:CNO - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 period in the previous year, the company earned $0.52 EPS. The company's revenue for the quarter was down 13.2% on a year-over-year basis. On average, analysts predict that CNO Financial Group, Inc. will post 3.83 EPS for the current year.

CNO Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Tuesday, June 10th will be issued a $0.17 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.81%. This is an increase from CNO Financial Group's previous quarterly dividend of $0.16. CNO Financial Group's dividend payout ratio is presently 22.38%.

About CNO Financial Group

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.