Axa S.A. Decreases Stock Holdings in CNO Financial Group, Inc. (NYSE:CNO)

Axa S.A. lessened its stake in CNO Financial Group, Inc. (NYSE:CNO) by 28.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,400 shares of the financial services provider’s stock after selling 9,500 shares during the quarter. Axa S.A.’s holdings in CNO Financial Group were worth $649,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in CNO. Victory Capital Management Inc. raised its position in shares of CNO Financial Group by 455.1% during the 2nd quarter. Victory Capital Management Inc. now owns 777,271 shares of the financial services provider’s stock worth $21,546,000 after purchasing an additional 637,254 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of CNO Financial Group by 19.4% during the second quarter. American Century Companies Inc. now owns 2,117,416 shares of the financial services provider’s stock valued at $58,695,000 after acquiring an additional 343,819 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of CNO Financial Group by 97.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 622,348 shares of the financial services provider’s stock valued at $17,251,000 after acquiring an additional 306,751 shares during the last quarter. Denali Advisors LLC lifted its position in shares of CNO Financial Group by 725.0% in the second quarter. Denali Advisors LLC now owns 231,000 shares of the financial services provider’s stock valued at $6,403,000 after acquiring an additional 203,000 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its stake in shares of CNO Financial Group by 346.9% in the second quarter. Squarepoint Ops LLC now owns 197,648 shares of the financial services provider’s stock worth $5,479,000 after acquiring an additional 153,424 shares during the last quarter. 95.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at CNO Financial Group

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

Analyst Ratings Changes

Several brokerages have issued reports on CNO. Royal Bank of Canada lifted their target price on shares of CNO Financial Group from $30.00 to $38.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Keefe, Bruyette & Woods boosted their price target on shares of CNO Financial Group from $30.00 to $31.00 and gave the stock a “market perform” rating in a research report on Monday, July 8th. Evercore ISI increased their price objective on shares of CNO Financial Group from $27.00 to $29.00 and gave the company an “underperform” rating in a report on Wednesday, July 31st. Finally, Piper Sandler restated an “overweight” rating and set a $37.00 target price on shares of CNO Financial Group in a report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $33.75.

CNO Financial Group Trading Down 2.1 %

Shares of CNO stock opened at $34.36 on Wednesday. CNO Financial Group, Inc. has a twelve month low of $22.27 and a twelve month high of $35.63. The stock has a market cap of $3.72 billion, a price-to-earnings ratio of 10.02 and a beta of 1.01. The company’s 50-day moving average price is $33.28 and its 200-day moving average price is $29.58. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 1.66.

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

CNO Financial Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 24th. Investors of record on Tuesday, September 10th were issued a $0.16 dividend. The ex-dividend date was Tuesday, September 10th. This represents a $0.64 annualized dividend and a yield of 1.86%. CNO Financial Group’s dividend payout ratio (DPR) is presently 18.66%.

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.