CNO Financial Group, Inc. (NYSE:CNO) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets lessened its holdings in shares of CNO Financial Group, Inc. (NYSE:CNO) by 42.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,869 shares of the financial services provider’s stock after selling 17,077 shares during the period. BNP Paribas Financial Markets’ holdings in CNO Financial Group were worth $851,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CNO. Jones Financial Companies Lllp increased 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 worth $30,000 after buying an additional 626 shares during the period. Smartleaf Asset Management LLC grew its position in shares of CNO Financial Group by 95.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 855 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 417 shares during the last quarter. Principal Securities Inc. increased its holdings in shares of CNO Financial Group by 51.6% in the 4th quarter. Principal Securities Inc. now owns 955 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 325 shares during the period. Headlands Technologies LLC increased its holdings in shares of CNO Financial Group by 193.2% in the 4th quarter. Headlands Technologies LLC now owns 1,337 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 881 shares during the period. Finally, Quarry LP lifted its position in CNO Financial Group by 137.8% in the 4th quarter. Quarry LP now owns 1,334 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 773 shares during the last quarter. Institutional investors and hedge funds own 95.43% of the company’s stock.

CNO Financial Group Stock Down 3.7%

CNO stock opened at $37.77 on Thursday. The firm’s 50-day moving average is $39.05 and its two-hundred day moving average is $39.03. The company has a market capitalization of $3.74 billion, a price-to-earnings ratio of 10.10 and a beta of 0.90. CNO Financial Group, Inc. has a 52 week low of $26.36 and a 52 week high of $43.20. The company has a current ratio of 0.22, a quick ratio of 0.19 and a debt-to-equity ratio of 1.61.

CNO Financial Group (NYSE:CNO) last posted its quarterly earnings data on Monday, April 28th. The financial services provider reported $0.79 EPS for the quarter, meeting analysts’ consensus estimates of $0.79. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $975.80 million. CNO Financial Group had a net margin of 9.08% and a return on equity of 17.20%. The business’s revenue for the quarter was down 13.2% on a year-over-year basis. During the same quarter last year, the business earned $0.52 earnings per share. On average, analysts forecast that CNO Financial Group, Inc. will post 3.83 earnings per share for the current fiscal year.

CNO Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.17 per share. The ex-dividend date is Tuesday, June 10th. This is a boost from CNO Financial Group’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 1.80%. CNO Financial Group’s dividend payout ratio (DPR) is 23.78%.

Insider Transactions at CNO Financial Group

In related news, General Counsel Matthew J. Zimpfer sold 40,800 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were 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 represents a 16.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeremy David Williams sold 3,393 shares of CNO Financial Group stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $41.77, for a total transaction of $141,725.61. Following the completion of the transaction, the insider now owns 56,599 shares in the company, valued at approximately $2,364,140.23. This trade represents a 5.66% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 118,712 shares of company stock valued at $4,804,918. Corporate insiders own 3.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Piper Sandler upped their target price on shares of CNO Financial Group from $46.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 2nd. Royal Bank of Canada increased their price objective on CNO Financial Group from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, February 10th. BMO Capital Markets initiated coverage on CNO Financial Group in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $38.00 target price on the stock. Finally, Keefe, Bruyette & Woods lifted their target price on 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 stock has an average rating of “Hold” and an average price target of $41.00.

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.