Allspring Global Investments Holdings LLC Lowers Holdings in CNO Financial Group, Inc. $CNO

Allspring Global Investments Holdings LLC lowered its holdings in CNO Financial Group, Inc. (NYSE:CNO) by 11.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,153,554 shares of the financial services provider’s stock after selling 149,977 shares during the period. Allspring Global Investments Holdings LLC owned approximately 1.21% of CNO Financial Group worth $48,680,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Optiver Holding B.V. boosted its position in CNO Financial Group by 90.1% in the 3rd quarter. Optiver Holding B.V. now owns 637 shares of the financial services provider’s stock valued at $25,000 after buying an additional 302 shares during the period. Osaic Holdings Inc. raised 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 acquiring an additional 336 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in CNO Financial Group by 32.1% in the third quarter. EverSource Wealth Advisors LLC now owns 1,553 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 377 shares during the period. Blue Trust Inc. boosted its holdings in CNO Financial Group by 8.1% in the third quarter. Blue Trust Inc. now owns 5,409 shares of the financial services provider’s stock valued at $214,000 after purchasing an additional 403 shares during the period. Finally, Pathstone Holdings LLC grew its stake in CNO Financial Group by 1.2% during the 3rd quarter. Pathstone Holdings LLC now owns 36,833 shares of the financial services provider’s stock worth $1,457,000 after purchasing an additional 439 shares in the last quarter. 95.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CNO shares. Keefe, Bruyette & Woods restated a “hold” rating and set a $46.00 price target on shares of CNO Financial Group in a report on Thursday, March 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of CNO Financial Group in a research note on Wednesday, January 21st. Piper Sandler boosted their price objective on CNO Financial Group from $46.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 23rd. Jefferies Financial Group upgraded shares of CNO Financial Group from a “hold” rating to a “buy” rating and upped their target price for the stock from $42.00 to $47.00 in a research note on Monday, December 15th. Finally, Evercore reaffirmed an “underperform” rating and issued a $43.00 target price on shares of CNO Financial Group in a report on Wednesday, February 18th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $46.50.

CNO Financial Group Price Performance

Shares of NYSE CNO opened at $41.14 on Thursday. The stock’s 50-day simple moving average is $41.63 and its 200-day simple moving average is $41.14. The firm has a market capitalization of $3.86 billion, a PE ratio of 18.45 and a beta of 0.82. CNO Financial Group, Inc. has a fifty-two week low of $34.63 and a fifty-two week high of $44.85. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.17 and a current ratio of 0.17.

CNO Financial Group (NYSE:CNO) last announced its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.47 EPS for the quarter, beating the consensus estimate 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 company had revenue of $101.10 million for the quarter, compared to analyst estimates of $1 billion. During the same period in the prior year, the firm posted $1.18 earnings per share. The firm’s revenue was up 4.2% on a year-over-year basis. As a group, equities research analysts forecast that CNO Financial Group, Inc. will post 3.83 EPS for the current fiscal year.

CNO Financial Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 24th. Investors of record on Tuesday, March 10th were given 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 was Tuesday, March 10th. CNO Financial Group’s dividend payout ratio (DPR) is 30.49%.

Insider Activity at CNO Financial Group

In other CNO Financial Group news, CEO Gary C. Bhojwani sold 43,021 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $43.05, for a total transaction of $1,852,054.05. Following the transaction, the chief executive officer owned 277,526 shares of the company’s stock, valued at approximately $11,947,494.30. This trade represents a 13.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Yvonne K. Franzese sold 9,000 shares of CNO Financial Group stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $43.17, for a total value of $388,530.00. Following the sale, the insider owned 35,062 shares in the company, valued at $1,513,626.54. This trade represents a 20.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 228,208 shares of company stock valued at $9,762,609 over the last quarter. 3.00% of the stock is owned by insiders.

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.