Allspring Global Investments Holdings LLC Sells 5,951 Shares of CNO Financial Group, Inc. (NYSE:CNO)

Allspring Global Investments Holdings LLC cut its position in shares of CNO Financial Group, Inc. (NYSE:CNO) by 27.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 16,081 shares of the financial services provider’s stock after selling 5,951 shares during the period. Allspring Global Investments Holdings LLC’s holdings in CNO Financial Group were worth $449,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. American Century Companies Inc. grew its holdings in shares of CNO Financial Group by 10.2% during the third quarter. American Century Companies Inc. now owns 1,350,120 shares of the financial services provider’s stock worth $32,038,000 after buying an additional 125,047 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of CNO Financial Group by 97.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 587,569 shares of the financial services provider’s stock worth $16,393,000 after buying an additional 290,585 shares in the last quarter. Hsbc Holdings PLC acquired a new position in CNO Financial Group during the third quarter valued at approximately $1,257,000. Massachusetts Financial Services Co. MA boosted its position in CNO Financial Group by 1.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,838,581 shares of the financial services provider’s stock valued at $43,630,000 after purchasing an additional 22,012 shares during the last quarter. Finally, Ibex Wealth Advisors acquired a new position in CNO Financial Group during the third quarter valued at approximately $466,000. 95.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CNO has been the subject of several recent research reports. Piper Sandler raised CNO Financial Group from a “neutral” rating to an “overweight” rating and set a $29.00 price target for the company in a research report on Tuesday, April 16th. StockNews.com cut CNO Financial Group from a “buy” rating to a “hold” rating in a research report on Friday, April 12th. Evercore ISI increased their price target on CNO Financial Group from $26.00 to $27.00 and gave the company an “underperform” rating in a research report on Wednesday, February 28th. Finally, Royal Bank of Canada increased their price target on CNO Financial Group from $29.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $27.50.

CNO Financial Group Stock Performance

CNO opened at $26.44 on Friday. CNO Financial Group, Inc. has a 12-month low of $19.95 and a 12-month high of $28.39. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of 10.97 and a beta of 1.03. The business has a 50 day moving average of $26.65 and a 200-day moving average of $26.25. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 1.50.

CNO Financial Group (NYSE:CNO) last released its quarterly earnings data on Tuesday, February 6th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.33. CNO Financial Group had a return on equity of 17.51% and a net margin of 6.67%. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $934.05 million. On average, equities research analysts expect that CNO Financial Group, Inc. will post 3.14 earnings per share for the current year.

CNO Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a $0.15 dividend. The ex-dividend date was Thursday, March 7th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.27%. CNO Financial Group’s payout ratio is 24.90%.

Insider Activity

In related news, CEO Gary C. Bhojwani sold 20,200 shares of CNO Financial Group stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $27.31, for a total transaction of $551,662.00. Following the completion of the sale, the chief executive officer now directly owns 293,802 shares of the company’s stock, valued at approximately $8,023,732.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Yvonne K. Franzese sold 7,214 shares of CNO Financial Group stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $27.43, for a total transaction of $197,880.02. Following the completion of the sale, the executive vice president now directly owns 46,632 shares of the company’s stock, valued at approximately $1,279,115.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Gary C. Bhojwani sold 20,200 shares of CNO Financial Group stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $27.31, for a total value of $551,662.00. Following the sale, the chief executive officer now directly owns 293,802 shares of the company’s stock, valued at $8,023,732.62. The disclosure for this sale can be found here. Insiders sold a total of 152,590 shares of company stock valued at $4,116,255 over the last three months. Insiders own 3.00% of the company’s stock.

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.