JPMorgan Chase & Co. Purchases 91,417 Shares of CNO Financial Group, Inc. $CNO

JPMorgan Chase & Co. lifted its position in shares of CNO Financial Group, Inc. (NYSE:CNO) by 11.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 882,512 shares of the financial services provider’s stock after acquiring an additional 91,417 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.93% of CNO Financial Group worth $34,903,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Optiver Holding B.V. raised its position in CNO Financial Group by 90.1% in the third quarter. Optiver Holding B.V. now owns 637 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 302 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of CNO Financial Group by 353.0% during the third quarter. Smartleaf Asset Management LLC now owns 743 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 579 shares in the last quarter. First Horizon Corp bought a new stake in shares of CNO Financial Group during the third quarter worth about $32,000. EverSource Wealth Advisors LLC grew its holdings in shares of CNO Financial Group by 123.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,176 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 649 shares during the last quarter. Finally, Osaic Holdings Inc. increased its stake in shares of CNO Financial Group by 39.2% in the second quarter. Osaic Holdings Inc. now owns 1,194 shares of the financial services provider’s stock valued at $46,000 after buying an additional 336 shares during the period. Institutional investors own 95.43% of the company’s stock.

Insider Transactions at CNO Financial Group

In other CNO Financial Group news, CEO Gary C. Bhojwani sold 43,021 shares of the company’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $43.05, for a total transaction of $1,852,054.05. Following the sale, the chief executive officer owned 277,526 shares of the company’s stock, valued at approximately $11,947,494.30. This represents a 13.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Matthew J. Zimpfer sold 33,800 shares of the stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $43.05, for a total value of $1,455,090.00. Following the sale, the general counsel owned 307,937 shares of the company’s stock, valued at approximately $13,256,687.85. The trade was a 9.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 217,148 shares of company stock worth $9,320,540 over the last three months. 3.38% of the stock is owned by company insiders.

CNO Financial Group Price Performance

CNO Financial Group stock opened at $39.72 on Monday. The stock’s 50 day moving average is $41.83 and its 200 day moving average is $41.09. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.17 and a quick ratio of 0.17. The firm has a market cap of $3.74 billion, a P/E ratio of 17.81 and a beta of 0.83. CNO Financial Group, Inc. has a one year low of $34.63 and a one year high of $44.85.

CNO Financial Group (NYSE:CNO) last released its earnings results on Thursday, February 5th. The financial services provider reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.27. CNO Financial Group had a net margin of 4.94% and a return on equity of 15.80%. The business had revenue of $101.10 million during the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the prior year, the firm posted $1.18 EPS. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, research analysts expect that CNO Financial Group, Inc. will post 3.83 EPS for the current year.

CNO Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, March 10th. CNO Financial Group’s dividend payout ratio is currently 30.49%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CNO. Piper Sandler raised 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. Jefferies Financial Group raised shares of CNO Financial Group from a “hold” rating to a “buy” rating and boosted their target price for the stock from $42.00 to $47.00 in a report on Monday, December 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of CNO Financial Group in a research note on Wednesday, January 21st. Wall Street Zen upgraded shares of CNO Financial Group from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Finally, Evercore reissued an “underperform” rating and issued a $43.00 price objective on shares of CNO Financial Group in a research note on Wednesday, February 18th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $46.25.

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.