Jennison Associates LLC Raises Stake in CNO Financial Group, Inc. (NYSE:CNO)

Jennison Associates LLC lifted its stake in shares of CNO Financial Group, Inc. (NYSE:CNOFree Report) by 19.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 78,007 shares of the financial services provider’s stock after acquiring an additional 12,879 shares during the period. Jennison Associates LLC owned 0.07% of CNO Financial Group worth $2,144,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Meritage Portfolio Management increased its position in CNO Financial Group by 2.1% during the fourth quarter. Meritage Portfolio Management now owns 17,920 shares of the financial services provider’s stock worth $500,000 after purchasing an additional 377 shares during the last quarter. Uncommon Cents Investing LLC raised its position in shares of CNO Financial Group by 3.6% during the 1st quarter. Uncommon Cents Investing LLC now owns 17,505 shares of the financial services provider’s stock valued at $481,000 after buying an additional 615 shares during the period. Amalgamated Bank lifted its holdings in CNO Financial Group by 1.0% in the fourth quarter. Amalgamated Bank now owns 65,021 shares of the financial services provider’s stock valued at $1,814,000 after acquiring an additional 651 shares during the last quarter. Everhart Financial Group Inc. grew its position in CNO Financial Group by 8.8% in the fourth quarter. Everhart Financial Group Inc. now owns 11,874 shares of the financial services provider’s stock worth $331,000 after acquiring an additional 963 shares during the period. Finally, Assetmark Inc. grew its position in CNO Financial Group by 33.4% in the fourth quarter. Assetmark Inc. now owns 5,557 shares of the financial services provider’s stock worth $155,000 after acquiring an additional 1,391 shares during the period. Hedge funds and other institutional investors own 95.43% of the company’s stock.

Insiders Place Their Bets

In other CNO Financial Group news, insider Michael E. Mead sold 5,013 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $28.85, for a total value of $144,625.05. Following the completion of the transaction, the insider now owns 36,522 shares in the company, valued at $1,053,659.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Michael E. Mead sold 7,690 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $28.30, for a total value of $217,627.00. Following the sale, the insider now owns 41,535 shares of the company’s stock, valued at $1,175,440.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael E. Mead sold 5,013 shares of CNO Financial Group stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $28.85, for a total transaction of $144,625.05. Following the completion of the transaction, the insider now owns 36,522 shares of the company’s stock, valued at approximately $1,053,659.70. The disclosure for this sale can be found here. Insiders have sold a total of 34,421 shares of company stock worth $975,861 in the last ninety days. 3.21% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CNO has been the topic of several recent analyst reports. Keefe, Bruyette & Woods upped their price target on CNO Financial Group from $30.00 to $31.00 and gave the company a “market perform” rating in a research note on Monday. Piper Sandler upped their target price on shares of CNO Financial Group from $29.00 to $31.00 and gave the company an “overweight” rating in a research report on Friday, June 28th. Finally, StockNews.com cut shares of CNO Financial Group from a “buy” rating to a “hold” rating in a research report on Friday, April 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, CNO Financial Group presently has a consensus rating of “Hold” and a consensus target price of $28.60.

View Our Latest Stock Report on CNO

CNO Financial Group Trading Up 0.7 %

Shares of NYSE CNO opened at $27.95 on Wednesday. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $3.03 billion, a PE ratio of 8.15 and a beta of 1.04. CNO Financial Group, Inc. has a twelve month low of $22.27 and a twelve month high of $29.09. The stock has a fifty day simple moving average of $27.82 and a 200-day simple moving average of $27.23.

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

CNO Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Monday, June 10th were paid a dividend of $0.16 per share. This is an increase from CNO Financial Group’s previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend was Monday, June 10th. CNO Financial Group’s dividend payout ratio is presently 18.66%.

CNO Financial Group Company 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.

Further Reading

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

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