Federated Hermes Inc. Has $18.46 Million Position in CNO Financial Group, Inc. $CNO

Federated Hermes Inc. lowered its stake in shares of CNO Financial Group, Inc. (NYSE:CNO) by 6.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 466,670 shares of the financial services provider’s stock after selling 32,241 shares during the quarter. Federated Hermes Inc. owned 0.48% of CNO Financial Group worth $18,457,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CNO. American Century Companies Inc. grew its holdings in CNO Financial Group by 6.2% during the second quarter. American Century Companies Inc. now owns 3,121,527 shares of the financial services provider’s stock valued at $120,429,000 after purchasing an additional 183,493 shares during the period. Allianz Asset Management GmbH boosted its holdings in shares of CNO Financial Group by 70.9% in the 2nd quarter. Allianz Asset Management GmbH now owns 1,546,745 shares of the financial services provider’s stock worth $59,673,000 after purchasing an additional 641,950 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of CNO Financial Group by 72.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,333,698 shares of the financial services provider’s stock valued at $51,641,000 after purchasing an additional 561,327 shares in the last quarter. Balyasny Asset Management L.P. lifted its stake in shares of CNO Financial Group by 32.6% in the 2nd quarter. Balyasny Asset Management L.P. now owns 764,867 shares of the financial services provider’s stock valued at $29,509,000 after acquiring an additional 187,974 shares during the last quarter. Finally, Bragg Financial Advisors Inc grew its holdings in shares of CNO Financial Group by 14.0% in the second quarter. Bragg Financial Advisors Inc now owns 639,939 shares of the financial services provider’s stock worth $24,689,000 after purchasing an additional 78,793 shares during the last quarter. Hedge funds and other institutional investors own 95.43% of the company’s stock.

CNO Financial Group Stock Up 0.5%

NYSE CNO opened at $42.03 on Friday. CNO Financial Group, Inc. has a 12 month low of $34.63 and a 12 month high of $44.19. The stock’s 50 day moving average is $41.93 and its 200 day moving average is $40.05. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.45. The stock has a market cap of $4.01 billion, a PE ratio of 14.70 and a beta of 0.85.

CNO Financial Group (NYSE:CNO) last posted its earnings results on Monday, November 3rd. The financial services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.34. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $975.35 million. CNO Financial Group had a net margin of 6.64% and a return on equity of 15.81%. CNO Financial Group’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the company posted $1.11 earnings per share. Research analysts predict that CNO Financial Group, Inc. will post 3.83 EPS for the current fiscal year.

CNO Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Wednesday, December 10th were issued a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, December 10th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.6%. CNO Financial Group’s dividend payout ratio (DPR) is 23.78%.

Insider Activity at CNO Financial Group

In other news, CMO Rocco F. Tarasi III sold 9,283 shares of CNO Financial Group stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $42.60, for a total value of $395,455.80. Following the completion of the transaction, the chief marketing officer owned 73,932 shares in the company, valued at approximately $3,149,503.20. The trade was a 11.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CIO Eric R. Johnson sold 48,665 shares of the firm’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $41.24, for a total transaction of $2,006,944.60. Following the completion of the sale, the executive owned 671,542 shares of the company’s stock, valued at $27,694,392.08. This trade represents a 6.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 89,378 shares of company stock valued at $3,722,146 over the last 90 days. 3.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CNO. Weiss Ratings reissued a “buy (b)” rating on shares of CNO Financial Group in a research note on Wednesday, January 21st. Keefe, Bruyette & Woods boosted their target price on CNO Financial Group from $44.00 to $45.00 and gave the stock a “market perform” rating in a report on Thursday, October 9th. Jefferies Financial Group upgraded shares of CNO Financial Group from a “hold” rating to a “buy” rating and increased their price target for the company from $42.00 to $47.00 in a report on Monday, December 15th. Wall Street Zen raised CNO Financial Group from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Piper Sandler boosted their price objective on shares of CNO Financial Group from $46.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, December 23rd. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $46.75.

CNO Financial Group Profile

CNO Financial Group is an Indiana‐based holding company that offers a range of insurance and retirement solutions through its operating subsidiaries. Its primary business activities include life insurance, annuities, and supplemental health insurance products designed to help individuals plan for retirement and manage health‐related expenses. The company serves middle‐income Americans, with particular emphasis on senior customers seeking guaranteed coverage and reliable income streams.

Originally founded as Conseco in 1979, the company underwent a financial restructuring and rebranded as CNO Financial Group in 2010.