Mutual of America Capital Management LLC Has $2.18 Million Position in CNO Financial Group, Inc. (NYSE:CNO)

Mutual of America Capital Management LLC reduced its stake in shares of CNO Financial Group, Inc. (NYSE:CNO) by 4.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,302 shares of the financial services provider’s stock after selling 2,218 shares during the quarter. Mutual of America Capital Management LLC owned about 0.05% of CNO Financial Group worth $2,178,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CNO. UMB Bank n.a. raised its stake in shares of CNO Financial Group by 89.7% during the 1st quarter. UMB Bank n.a. now owns 1,009 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 477 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of CNO Financial Group by 148.6% during the 1st quarter. Versant Capital Management Inc now owns 1,099 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 657 shares in the last quarter. Headlands Technologies LLC raised its stake in shares of CNO Financial Group by 193.2% during the 4th quarter. Headlands Technologies LLC now owns 1,337 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 881 shares in the last quarter. Quarry LP raised its stake in shares of CNO Financial Group by 137.8% during the 4th quarter. Quarry LP now owns 1,334 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 773 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of CNO Financial Group during the 1st quarter worth approximately $92,000. 95.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Piper Sandler increased their price target on CNO Financial Group from $46.00 to $49.00 and gave the company an “overweight” rating in a research note on Wednesday, April 2nd. 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $41.00.

Insider Activity at CNO Financial Group

In other CNO Financial Group news, insider Michael E. Mead sold 12,581 shares of the company’s stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $37.97, for a total value of $477,700.57. Following the transaction, the insider directly owned 15,729 shares in the company, valued at $597,230.13. This represents a 44.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.00% of the stock is owned by corporate insiders.

CNO Financial Group Stock Up 0.2%

Shares of NYSE:CNO opened at $37.68 on Friday. The stock has a market cap of $3.74 billion, a price-to-earnings ratio of 13.17 and a beta of 0.87. 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 12-month low of $29.73 and a 12-month high of $43.20. The business’s 50 day moving average is $37.76 and its 200 day moving average is $38.80.

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, hitting the consensus estimate of $0.79. CNO Financial Group had a return on equity of 17.86% and a net margin of 7.11%. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $975.80 million. During the same quarter in the previous year, the firm earned $0.52 earnings per share. The business’s revenue was down 13.2% on a year-over-year basis. On average, sell-side 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 was paid on Tuesday, June 24th. Stockholders of record on Tuesday, June 10th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date was Tuesday, June 10th. This is a boost from CNO Financial Group’s previous quarterly dividend of $0.16. CNO Financial Group’s dividend payout ratio is currently 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.