SG Americas Securities LLC Invests $806,000 in CNO Financial Group, Inc. (NYSE:CNO)

SG Americas Securities LLC purchased a new stake in CNO Financial Group, Inc. (NYSE:CNO) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 19,361 shares of the financial services provider’s stock, valued at approximately $806,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp grew its holdings in shares of CNO Financial Group by 368.2% during the 4th quarter. Jones Financial Companies Lllp now owns 796 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 626 shares during the period. Smartleaf Asset Management LLC lifted its position in CNO Financial Group by 95.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 855 shares of the financial services provider’s stock valued at $32,000 after buying an additional 417 shares during the last quarter. Principal Securities Inc. lifted its position in CNO Financial Group by 51.6% in the fourth quarter. Principal Securities Inc. now owns 955 shares of the financial services provider’s stock valued at $36,000 after buying an additional 325 shares during the last quarter. UMB Bank n.a. boosted its stake in CNO Financial Group by 89.7% during the first quarter. UMB Bank n.a. now owns 1,009 shares of the financial services provider’s stock worth $42,000 after buying an additional 477 shares during the period. Finally, Versant Capital Management Inc increased its position in shares of CNO Financial Group by 148.6% during the first quarter. Versant Capital Management Inc now owns 1,099 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 657 shares during the last quarter. Institutional investors and hedge funds own 95.43% of the company’s stock.

Insider Activity

In other CNO Financial Group news, insider Yvonne K. Franzese sold 2,097 shares of the business’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $42.56, for a total transaction of $89,248.32. Following the sale, the insider now owns 30,321 shares in the company, valued at approximately $1,290,461.76. The trade was a 6.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeremy David Williams sold 11,300 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $41.51, for a total transaction of $469,063.00. Following the transaction, the insider now directly owns 65,299 shares in the company, valued at $2,710,561.49. The trade was a 14.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,912 shares of company stock valued at $1,125,523. 3.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, Piper Sandler boosted their price target 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CNO Financial Group currently has a consensus rating of “Hold” and a consensus target price of $41.00.

CNO Financial Group Price Performance

CNO stock opened at $37.02 on Friday. The stock has a market capitalization of $3.67 billion, a price-to-earnings ratio of 12.94 and a beta of 0.89. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.59. CNO Financial Group, Inc. has a 52-week low of $27.06 and a 52-week high of $43.20. The stock’s fifty day simple moving average is $37.99 and its 200-day simple moving average is $38.81.

CNO Financial Group (NYSE:CNO) last posted its quarterly earnings results on Monday, April 28th. The financial services provider reported $0.79 EPS for the quarter, meeting the consensus estimate of $0.79. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $975.80 million. CNO Financial Group had a net margin of 7.11% and a return on equity of 17.86%. CNO Financial Group’s revenue for the quarter was down 13.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.52 earnings per share. Equities research analysts expect that CNO Financial Group, Inc. will post 3.83 EPS for the current year.

CNO Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Tuesday, June 10th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This is a positive change from CNO Financial Group’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 1.84%. CNO Financial Group’s payout ratio is 23.78%.

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.