CNO Financial Group, Inc. (NYSE:CNO) Stock Position Lifted by Bank of Montreal Can

Bank of Montreal Can lifted its stake in shares of CNO Financial Group, Inc. (NYSE:CNO) by 7.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,551 shares of the financial services provider’s stock after purchasing an additional 1,733 shares during the quarter. Bank of Montreal Can’s holdings in CNO Financial Group were worth $951,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. American Century Companies Inc. raised its position in shares of CNO Financial Group by 11.7% during the 4th quarter. American Century Companies Inc. now owns 2,687,861 shares of the financial services provider’s stock worth $100,015,000 after buying an additional 282,611 shares in the last quarter. Principal Financial Group Inc. raised its holdings in CNO Financial Group by 6.0% during the third quarter. Principal Financial Group Inc. now owns 1,899,599 shares of the financial services provider’s stock worth $66,676,000 after purchasing an additional 107,589 shares in the last quarter. JPMorgan Chase & Co. lifted its position in CNO Financial Group by 41.3% in the fourth quarter. JPMorgan Chase & Co. now owns 1,274,370 shares of the financial services provider’s stock worth $47,419,000 after purchasing an additional 372,701 shares during the period. Allianz Asset Management GmbH boosted its stake in CNO Financial Group by 1.3% during the 4th quarter. Allianz Asset Management GmbH now owns 848,407 shares of the financial services provider’s stock valued at $31,569,000 after purchasing an additional 10,846 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in CNO Financial Group by 37.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 671,636 shares of the financial services provider’s stock valued at $24,945,000 after purchasing an additional 181,711 shares in the last quarter. Institutional investors and hedge funds own 95.43% of the company’s stock.

CNO Financial Group Trading Up 0.6 %

NYSE:CNO opened at $38.29 on Friday. The stock has a fifty day simple moving average of $40.01 and a 200 day simple moving average of $38.52. The firm has a market capitalization of $3.84 billion, a price-to-earnings ratio of 10.24 and a beta of 0.90. CNO Financial Group, Inc. has a 1-year low of $25.75 and a 1-year high of $43.20. 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 (NYSE:CNO) last announced its earnings results on Thursday, February 6th. The financial services provider reported $1.31 EPS for the quarter, topping the consensus estimate of $1.06 by $0.25. CNO Financial Group had a net margin of 9.08% and a return on equity of 17.20%. Sell-side analysts forecast that CNO Financial Group, Inc. will post 3.83 earnings per share for the current year.

CNO Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.67%. The ex-dividend date was Monday, March 10th. CNO Financial Group’s payout ratio is 17.11%.

Insiders Place Their Bets

In other CNO Financial Group news, insider Scott L. Goldberg sold 25,500 shares of CNO Financial Group stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $40.11, for a total transaction of $1,022,805.00. Following the transaction, the insider now owns 169,342 shares of the company’s stock, valued at $6,792,307.62. The trade was a 13.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Matthew J. Zimpfer sold 40,800 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $40.10, for a total transaction of $1,636,080.00. Following the completion of the sale, the general counsel now directly owns 204,143 shares of the company’s stock, valued at $8,186,134.30. This trade represents a 16.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 159,512 shares of company stock worth $6,497,710. Corporate insiders own 3.00% of the company’s stock.

Analyst Upgrades and Downgrades

CNO has been the subject of several research analyst reports. BMO Capital Markets initiated coverage on CNO Financial Group in a report on Thursday, January 23rd. They issued a “market perform” rating and a $38.00 price objective for the company. Royal Bank of Canada raised their price objective on shares of CNO Financial Group from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, February 10th. Piper Sandler lifted their price objective on shares of CNO Financial Group from $46.00 to $49.00 and gave the stock an “overweight” rating in a research note 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 company a “market perform” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $41.00.

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.