AlphaQuest LLC Takes Position in CNO Financial Group, Inc. $CNO

AlphaQuest LLC purchased a new position in CNO Financial Group, Inc. (NYSE:CNO) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 77,304 shares of the financial services provider’s stock, valued at approximately $3,057,000. AlphaQuest LLC owned 0.08% of CNO Financial Group as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of CNO. American Century Companies Inc. boosted its holdings in shares of CNO Financial Group by 6.2% in the 2nd quarter. American Century Companies Inc. now owns 3,121,527 shares of the financial services provider’s stock valued at $120,429,000 after buying an additional 183,493 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in CNO Financial Group during the third quarter valued at approximately $1,077,000. Allianz Asset Management GmbH boosted its stake in CNO Financial Group by 70.9% in the second quarter. Allianz Asset Management GmbH now owns 1,546,745 shares of the financial services provider’s stock valued at $59,673,000 after acquiring an additional 641,950 shares in the last quarter. Boston Partners boosted its stake in CNO Financial Group by 141.1% in the second quarter. Boston Partners now owns 86,148 shares of the financial services provider’s stock valued at $3,324,000 after acquiring an additional 50,411 shares in the last quarter. Finally, Cresset Asset Management LLC purchased a new position in CNO Financial Group in the second quarter worth $1,511,000. 95.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CNO has been the subject of several analyst reports. Wall Street Zen upgraded CNO Financial Group from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Jefferies Financial Group raised CNO Financial Group from a “hold” rating to a “buy” rating and upped their target price for the company from $42.00 to $47.00 in a research report on Monday, December 15th. Piper Sandler raised their price target on CNO Financial Group from $46.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, December 23rd. Weiss Ratings restated a “buy (b)” rating on shares of CNO Financial Group in a report on Wednesday, January 21st. Finally, Keefe, Bruyette & Woods increased their price objective on shares of CNO Financial Group from $44.00 to $45.00 and gave the company a “market perform” rating in a research report on Thursday, October 9th. 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, CNO Financial Group presently has a consensus rating of “Moderate Buy” and an average price target of $46.75.

Insider Buying and Selling at CNO Financial Group

In other CNO Financial Group news, CEO Gary C. Bhojwani sold 31,430 shares of the stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $41.99, for a total transaction of $1,319,745.70. Following the sale, the chief executive officer directly owned 195,926 shares of the company’s stock, valued at approximately $8,226,932.74. This trade represents a 13.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Rocco F. Tarasi III sold 9,283 shares of the business’s stock in a transaction dated Monday, December 15th. The shares were 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 directly owned 73,932 shares of the company’s stock, valued at approximately $3,149,503.20. This trade represents a 11.16% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 89,378 shares of company stock valued at $3,722,146. 3.00% of the stock is owned by insiders.

CNO Financial Group Trading Up 1.9%

CNO Financial Group stock opened at $41.79 on Friday. The stock has a 50-day moving average price of $41.90 and a 200 day moving average price of $39.99. The company has a market capitalization of $3.98 billion, a price-to-earnings ratio of 14.61 and a beta of 0.85. CNO Financial Group, Inc. has a 52 week low of $34.63 and a 52 week high of $44.19. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.45.

CNO Financial Group (NYSE:CNO) last posted its quarterly earnings results on Monday, November 3rd. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.34. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the firm posted $1.11 EPS. Sell-side analysts anticipate that CNO Financial Group, Inc. will post 3.83 EPS for the current year.

CNO Financial Group Announces Dividend

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

About CNO Financial Group

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.