BNP Paribas Financial Markets Reduces Position in CNO Financial Group, Inc. (NYSE:CNO)

BNP Paribas Financial Markets cut its position in shares of CNO Financial Group, Inc. (NYSE:CNOFree Report) by 38.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,882 shares of the financial services provider’s stock after selling 28,621 shares during the period. BNP Paribas Financial Markets’ holdings in CNO Financial Group were worth $1,280,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. American Century Companies Inc. boosted its stake in shares of CNO Financial Group by 10.2% during the 3rd quarter. American Century Companies Inc. now owns 1,350,120 shares of the financial services provider’s stock worth $32,038,000 after purchasing an additional 125,047 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of CNO Financial Group by 97.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 587,569 shares of the financial services provider’s stock worth $16,393,000 after purchasing an additional 290,585 shares during the period. Calamos Advisors LLC purchased a new position in shares of CNO Financial Group during the 4th quarter worth about $1,063,000. Hsbc Holdings PLC purchased a new position in shares of CNO Financial Group during the 3rd quarter worth about $1,257,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in CNO Financial Group by 1.2% during the 3rd 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 buying an additional 22,012 shares in the last quarter. 95.43% of the stock is owned by hedge funds and other institutional investors.

CNO Financial Group Trading Up 1.2 %

NYSE:CNO opened at $28.42 on Tuesday. CNO Financial Group, Inc. has a one year low of $21.52 and a one year high of $29.09. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.18 and a current ratio of 0.18. The firm has a market cap of $3.08 billion, a P/E ratio of 8.29 and a beta of 1.03. The firm has a 50-day simple moving average of $27.12 and a 200-day simple moving average of $26.95.

CNO Financial Group (NYSE:CNOGet Free Report) last posted its quarterly earnings results on Monday, April 29th. The financial services provider reported $0.52 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.12). CNO Financial Group had a net margin of 9.07% and a return on equity of 16.77%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $935.76 million. During the same quarter in the prior year, the firm posted $0.51 EPS. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. Equities analysts anticipate that CNO Financial Group, Inc. will post 3.08 EPS for the current fiscal year.

CNO Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Monday, June 10th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.64 annualized dividend and a dividend yield of 2.25%. This is a positive change from CNO Financial Group’s previous quarterly dividend of $0.15. CNO Financial Group’s payout ratio is currently 17.49%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CNO shares. StockNews.com lowered shares of CNO Financial Group from a “buy” rating to a “hold” rating in a report on Friday, April 12th. Royal Bank of Canada lifted their price objective on shares of CNO Financial Group from $29.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, February 8th. Evercore ISI lifted their price objective on shares of CNO Financial Group from $26.00 to $27.00 and gave the company an “underperform” rating in a report on Wednesday, February 28th. Finally, Piper Sandler upgraded shares of CNO Financial Group from a “neutral” rating to an “overweight” rating and set a $29.00 price objective for the company in a report on Tuesday, April 16th. 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 company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $27.50.

View Our Latest Analysis on CNO

Insider Activity

In related news, EVP Yvonne K. Franzese sold 7,214 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $27.43, for a total transaction of $197,880.02. Following the completion of the transaction, the executive vice president now owns 46,632 shares in the company, valued at approximately $1,279,115.76. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Yvonne K. Franzese sold 7,214 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $27.43, for a total transaction of $197,880.02. Following the completion of the transaction, the executive vice president now owns 46,632 shares in the company, valued at approximately $1,279,115.76. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Matthew J. Zimpfer sold 3,280 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $26.77, for a total transaction of $87,805.60. Following the transaction, the executive vice president now owns 272,497 shares of the company’s stock, valued at approximately $7,294,744.69. The disclosure for this sale can be found here. In the last quarter, insiders sold 167,868 shares of company stock worth $4,556,854. 3.21% of the stock is currently owned by corporate insiders.

CNO Financial Group Profile

(Free Report)

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.

Featured Stories

Institutional Ownership by Quarter for CNO Financial Group (NYSE:CNO)

Receive News & Ratings for CNO Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CNO Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.