Arizona State Retirement System Trims Stake in CNO Financial Group, Inc. (NYSE:CNO)

Arizona State Retirement System reduced its position in CNO Financial Group, Inc. (NYSE:CNO) by 3.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,605 shares of the financial services provider’s stock after selling 1,090 shares during the quarter. Arizona State Retirement System’s holdings in CNO Financial Group were worth $1,233,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CNO. Wealth Enhancement Advisory Services LLC boosted its stake in shares of CNO Financial Group by 5.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,701 shares of the financial services provider’s stock valued at $571,000 after purchasing an additional 744 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of CNO Financial Group by 15.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 772,371 shares of the financial services provider’s stock worth $32,424,000 after purchasing an additional 100,735 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of CNO Financial Group by 25.0% during the first quarter. GAMMA Investing LLC now owns 2,861 shares of the financial services provider’s stock worth $119,000 after purchasing an additional 572 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in CNO Financial Group by 42.0% in the first quarter. Robeco Institutional Asset Management B.V. now owns 8,471 shares of the financial services provider’s stock valued at $353,000 after buying an additional 2,507 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of CNO Financial Group in the first quarter valued at about $806,000. 95.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler boosted their target price on shares of CNO Financial Group from $46.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, CNO Financial Group currently has a consensus rating of “Hold” and an average target price of $41.00.

CNO Financial Group Stock Performance

Shares of CNO opened at $37.68 on Friday. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.59. The stock has a market cap of $3.74 billion, a P/E ratio of 13.17 and a beta of 0.87. The company has a 50-day moving average of $37.76 and a two-hundred day moving average of $38.80. CNO Financial Group, Inc. has a 12-month low of $29.73 and a 12-month high of $43.20.

CNO Financial Group (NYSE:CNO) last posted its quarterly earnings data on Monday, April 28th. The financial services provider reported $0.79 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.79. CNO Financial Group had a net margin of 7.11% and a return on equity of 17.86%. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $975.80 million. During the same quarter in the previous year, the business posted $0.52 earnings per share. The company’s revenue was down 13.2% on a year-over-year basis. As a group, research analysts predict that CNO Financial Group, Inc. will post 3.83 EPS for the current fiscal year.

CNO Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 24th. Stockholders of record on Tuesday, June 10th were paid a $0.17 dividend. The ex-dividend date was Tuesday, June 10th. This is an increase 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 is 23.78%.

Insider Buying and Selling at CNO Financial Group

In other CNO Financial Group news, insider Michael E. Mead sold 12,581 shares of the stock in a transaction on Monday, July 7th. The shares were sold at an average price of $37.97, for a total transaction of $477,700.57. Following the sale, the insider directly owned 15,729 shares of the company’s stock, valued at approximately $597,230.13. This represents a 44.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.00% of the company’s stock.

CNO Financial Group Company 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.