Point72 Asset Management L.P. Invests $186,000 in CNO Financial Group, Inc. (NYSE:CNO)

Point72 Asset Management L.P. purchased a new stake in shares of CNO Financial Group, Inc. (NYSE:CNO) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,700 shares of the financial services provider’s stock, valued at approximately $186,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. CWM LLC raised its position in shares of CNO Financial Group by 64.1% during the 2nd quarter. CWM LLC now owns 1,144 shares of the financial services provider’s stock worth $32,000 after buying an additional 447 shares in the last quarter. Quarry LP raised its holdings in CNO Financial Group by 123.2% during the second quarter. Quarry LP now owns 1,694 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 935 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in CNO Financial Group in the first quarter worth approximately $52,000. Blue Trust Inc. boosted its stake in CNO Financial Group by 25.4% during the 2nd quarter. Blue Trust Inc. now owns 2,384 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 483 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new position in shares of CNO Financial Group during the 2nd quarter valued at $89,000. 95.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CNO. Royal Bank of Canada upped their price objective on CNO Financial Group from $30.00 to $38.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Evercore ISI upped their price target 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. Piper Sandler lifted their price objective on shares of CNO Financial Group from $37.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods increased their target price on shares of CNO Financial Group from $30.00 to $31.00 and gave the company a “market perform” rating in a research note on Monday, July 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, CNO Financial Group currently has a consensus rating of “Hold” and an average target price of $34.00.

CNO Financial Group Stock Up 1.7 %

Shares of CNO Financial Group stock opened at $34.97 on Friday. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 1.66. CNO Financial Group, Inc. has a 12-month low of $22.27 and a 12-month high of $35.63. The firm has a market capitalization of $3.79 billion, a PE ratio of 10.20 and a beta of 1.01. The stock’s fifty day moving average is $33.51 and its 200-day moving average is $29.71.

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

CNO Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 24th. Investors of record on Tuesday, September 10th were paid a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $0.64 dividend on an annualized basis and a yield of 1.83%. CNO Financial Group’s payout ratio is currently 18.66%.

Insider Buying and Selling

In other CNO Financial Group news, insider Jeanne L. Linnenbringer sold 5,435 shares of CNO Financial Group 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 of the company’s stock, valued at approximately $1,290,334.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other CNO Financial Group news, insider Jeanne L. Linnenbringer sold 5,435 shares of CNO Financial Group stock in a transaction 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 completion of the transaction, the insider now directly owns 37,663 shares of the company’s stock, valued at approximately $1,290,334.38. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $187,096.32. Following the completion of the sale, the insider now owns 44,884 shares in the company, valued at $1,565,553.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.

About CNO Financial Group

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.