Swiss National Bank Reduces Position in CNO Financial Group, Inc. (NYSE:CNO)

Swiss National Bank trimmed its stake in CNO Financial Group, Inc. (NYSE:CNO) by 1.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 208,000 shares of the financial services provider’s stock after selling 3,400 shares during the period. Swiss National Bank owned 0.20% of CNO Financial Group worth $7,740,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CNO. Jones Financial Companies Lllp increased its position in CNO Financial Group by 368.2% in the fourth quarter. Jones Financial Companies Lllp now owns 796 shares of the financial services provider’s stock worth $30,000 after buying an additional 626 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in CNO Financial Group by 95.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 855 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 417 shares in the last quarter. Principal Securities Inc. raised its stake in CNO Financial Group by 51.6% during the 4th quarter. Principal Securities Inc. now owns 955 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 325 shares during the period. Sound Income Strategies LLC purchased a new position in CNO Financial Group during the fourth quarter valued at approximately $54,000. Finally, GAMMA Investing LLC increased its stake in shares of CNO Financial Group by 15.3% in the fourth quarter. GAMMA Investing LLC now owns 2,289 shares of the financial services provider’s stock worth $85,000 after purchasing an additional 304 shares in the last quarter. 95.43% of the stock is owned by institutional investors.

CNO Financial Group Stock Down 0.4 %

Shares of CNO opened at $41.07 on Friday. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.22 and a quick ratio of 0.19. The stock has a market capitalization of $4.12 billion, a price-to-earnings ratio of 10.98 and a beta of 1.02. CNO Financial Group, Inc. has a 1 year low of $24.92 and a 1 year high of $42.41. The business’s 50 day simple moving average is $40.04 and its 200-day simple moving average is $37.75.

CNO Financial Group (NYSE:CNO) last released its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.25. CNO Financial Group had a net margin of 9.08% and a return on equity of 17.20%. As a group, equities analysts expect that CNO Financial Group, Inc. will post 3.83 earnings per share for the current fiscal year.

CNO Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.64 annualized dividend and a yield of 1.56%. CNO Financial Group’s payout ratio is currently 17.11%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CNO shares. Keefe, Bruyette & Woods lifted their target price on shares of CNO Financial Group from $42.00 to $44.00 and gave the company a “market perform” rating in a research note on Wednesday, February 12th. Royal Bank of Canada upped their price objective on CNO Financial Group from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, February 10th. BMO Capital Markets initiated coverage on CNO Financial Group in a research note on Thursday, January 23rd. They set a “market perform” rating and a $38.00 target price on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $46.00 price objective (up from $44.00) on shares of CNO Financial Group in a report on Monday, February 10th. Finally, Jefferies Financial Group boosted their target price on shares of CNO Financial Group from $36.00 to $41.00 and gave the stock a “hold” rating in a report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, CNO Financial Group has an average rating of “Hold” and an average target price of $40.50.

Insider Buying and Selling at CNO Financial Group

In related news, insider Scott L. Goldberg sold 25,500 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $40.11, for a total transaction of $1,022,805.00. Following the sale, the insider now owns 169,342 shares in the company, valued at approximately $6,792,307.62. This represents a 13.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Matthew J. Zimpfer sold 40,800 shares of CNO Financial Group stock in a transaction on Friday, February 21st. The stock was sold at an average price of $40.10, for a total transaction of $1,636,080.00. Following the transaction, the general counsel now directly owns 204,143 shares of the company’s stock, valued at $8,186,134.30. The trade was a 16.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 132,600 shares of company stock worth $5,372,187 over the last ninety days. Company insiders own 3.00% of the company’s stock.

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.