Texas Permanent School Fund Corp Increases Holdings in CNO Financial Group, Inc. (NYSE:CNO)

Texas Permanent School Fund Corp raised its stake in CNO Financial Group, Inc. (NYSE:CNO) by 3.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,689 shares of the financial services provider’s stock after purchasing an additional 2,943 shares during the quarter. Texas Permanent School Fund Corp owned about 0.09% of CNO Financial Group worth $2,736,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Blair William & Co. IL raised its holdings in shares of CNO Financial Group by 2.1% during the 1st quarter. Blair William & Co. IL now owns 19,189 shares of the financial services provider’s stock valued at $527,000 after buying an additional 399 shares during the period. CWM LLC raised its stake in shares of CNO Financial Group by 64.1% during the second quarter. CWM LLC now owns 1,144 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 447 shares during the period. Blue Trust Inc. lifted its position in shares of CNO Financial Group by 25.4% during the second quarter. Blue Trust Inc. now owns 2,384 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 483 shares in the last quarter. Covestor Ltd boosted its stake in shares of CNO Financial Group by 18.9% in the first quarter. Covestor Ltd now owns 3,598 shares of the financial services provider’s stock valued at $99,000 after purchasing an additional 571 shares during the period. Finally, Bailard Inc. grew its holdings in CNO Financial Group by 2.5% during the 2nd quarter. Bailard Inc. now owns 24,300 shares of the financial services provider’s stock valued at $674,000 after purchasing an additional 600 shares in the last quarter. Institutional investors and hedge funds own 95.43% of the company’s stock.

CNO Financial Group Stock Performance

Shares of CNO Financial Group stock opened at $33.95 on Tuesday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.19 and a current ratio of 0.19. CNO Financial Group, Inc. has a 1 year low of $22.27 and a 1 year high of $35.45. The firm’s 50-day simple moving average is $32.12 and its 200-day simple moving average is $28.96. The firm has a market cap of $3.68 billion, a PE ratio of 9.90 and a beta of 1.01.

CNO Financial Group (NYSE:CNO) last announced its quarterly earnings data on Monday, July 29th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.33. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $929.99 million. CNO Financial Group had a return on equity of 18.30% and a net margin of 9.96%. CNO Financial Group’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.54 earnings per share. Equities analysts forecast that CNO Financial Group, Inc. will post 3.43 earnings per share for the current fiscal year.

CNO Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 24th. Shareholders of record on Tuesday, September 10th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Tuesday, September 10th. CNO Financial Group’s dividend payout ratio is presently 18.66%.

Insider Buying and Selling at CNO Financial Group

In other news, insider Jeanne L. Linnenbringer sold 5,435 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $34.26, for a total value of $186,203.10. Following the transaction, the insider now directly owns 37,663 shares in the company, valued at approximately $1,290,334.38. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Jeanne L. Linnenbringer sold 5,435 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $34.26, for a total transaction of $186,203.10. Following the sale, the insider now directly owns 37,663 shares in the company, valued at approximately $1,290,334.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeanne L. Linnenbringer sold 5,364 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $34.88, for a total value of $187,096.32. Following the completion of the sale, the insider now directly owns 44,884 shares in the company, valued at approximately $1,565,553.92. The disclosure for this sale can be found here. 3.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CNO shares. Royal Bank of Canada boosted their price objective on shares of CNO Financial Group from $30.00 to $38.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Keefe, Bruyette & Woods increased their price target on CNO Financial Group from $30.00 to $31.00 and gave the company a “market perform” rating in a report on Monday, July 8th. Evercore ISI raised their price objective on CNO Financial Group from $27.00 to $29.00 and gave the company an “underperform” rating in a research note on Wednesday, July 31st. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $37.00 target price on shares of CNO Financial Group in a research report on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CNO Financial Group currently has a consensus rating of “Hold” and a consensus price target of $33.75.

CNO Financial Group 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.