American International Group Inc. Sells 8,779 Shares of CNO Financial Group, Inc. (NYSE:CNO)

American International Group Inc. lessened its holdings in CNO Financial Group, Inc. (NYSE:CNO) by 4.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 206,306 shares of the financial services provider’s stock after selling 8,779 shares during the quarter. American International Group Inc. owned approximately 0.19% of CNO Financial Group worth $5,756,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in CNO. UBS Group AG raised its stake in shares of CNO Financial Group by 153.4% during the third quarter. UBS Group AG now owns 122,923 shares of the financial services provider’s stock valued at $2,917,000 after acquiring an additional 74,416 shares during the last quarter. Invesco Ltd. lifted its holdings in CNO Financial Group by 45.1% during the 3rd quarter. Invesco Ltd. now owns 722,688 shares of the financial services provider’s stock worth $17,149,000 after buying an additional 224,653 shares during the period. Hsbc Holdings PLC acquired a new position in CNO Financial Group during the 3rd quarter worth about $1,257,000. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of CNO Financial Group by 212.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 32,278 shares of the financial services provider’s stock valued at $766,000 after buying an additional 21,955 shares during the last quarter. Finally, Oak Associates Ltd. OH increased its stake in shares of CNO Financial Group by 8.2% in the third quarter. Oak Associates Ltd. OH now owns 20,923 shares of the financial services provider’s stock valued at $497,000 after buying an additional 1,589 shares during the period. 95.43% of the stock is currently owned by institutional investors and hedge funds.

CNO Financial Group Stock Up 0.5 %

CNO Financial Group stock opened at $27.56 on Friday. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.41. The company has a market capitalization of $2.98 billion, a P/E ratio of 8.04 and a beta of 1.05. The firm has a 50 day moving average price of $27.43 and a 200-day moving average price of $27.16. CNO Financial Group, Inc. has a twelve month low of $22.06 and a twelve month high of $29.09.

CNO Financial Group (NYSE:CNO) last announced its quarterly earnings data on Monday, April 29th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.12). The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $935.76 million. CNO Financial Group had a net margin of 9.07% and a return on equity of 16.77%. The company’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.51 earnings per share. As a group, equities analysts predict that CNO Financial Group, Inc. will post 3.08 EPS for the current year.

CNO Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Monday, June 10th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Monday, June 10th. This is an increase from CNO Financial Group’s previous quarterly dividend of $0.15. CNO Financial Group’s dividend payout ratio (DPR) is 18.66%.

Insider Activity at CNO Financial Group

In other CNO Financial Group news, CEO Gary C. Bhojwani sold 20,200 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $27.31, for a total value of $551,662.00. Following the sale, the chief executive officer now owns 293,802 shares of the company’s stock, valued at approximately $8,023,732.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Gary C. Bhojwani sold 9,434 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $26.87, for a total transaction of $253,491.58. Following the transaction, the chief executive officer now directly owns 332,694 shares of the company’s stock, valued at approximately $8,939,487.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Gary C. Bhojwani sold 20,200 shares of CNO Financial Group stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $27.31, for a total transaction of $551,662.00. Following the transaction, the chief executive officer now directly owns 293,802 shares in the company, valued at $8,023,732.62. The disclosure for this sale can be found here. Over the last quarter, insiders sold 99,712 shares of company stock valued at $2,758,595. Company insiders own 3.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CNO. Piper Sandler upgraded shares of CNO Financial Group from a “neutral” rating to an “overweight” rating and set a $29.00 price target on the stock in a research report on Tuesday, April 16th. Evercore ISI upped their price target on shares of CNO Financial Group from $26.00 to $27.00 and gave the company an “underperform” rating in a research report on Wednesday, February 28th. Finally, StockNews.com lowered CNO Financial Group from a “buy” rating to a “hold” rating in a research report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $27.50.

CNO Financial Group Company Profile

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.