Arizona State Retirement System Lowers Stock Position in CNO Financial Group, Inc. (NYSE:CNO)

Arizona State Retirement System decreased its position in shares of CNO Financial Group, Inc. (NYSE:CNO) by 1.3% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 30,415 shares of the financial services provider’s stock after selling 412 shares during the quarter. Arizona State Retirement System’s holdings in CNO Financial Group were worth $843,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. CWM LLC grew its holdings in CNO Financial Group by 64.1% during the 2nd quarter. CWM LLC now owns 1,144 shares of the financial services provider’s stock valued at $32,000 after buying an additional 447 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in shares of CNO Financial Group during the 1st quarter valued at about $52,000. Blue Trust Inc. lifted its holdings in shares of CNO Financial Group by 25.4% in the 2nd quarter. Blue Trust Inc. now owns 2,384 shares of the financial services provider’s stock valued at $66,000 after acquiring an additional 483 shares during the last quarter. Covestor Ltd raised its position in CNO Financial Group by 18.9% during 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, Fifth Third Bancorp raised its holdings in CNO Financial Group by 183.5% during the 2nd quarter. Fifth Third Bancorp now owns 4,170 shares of the financial services provider’s stock valued at $116,000 after buying an additional 2,699 shares during the period. Institutional investors own 95.43% of the company’s stock.

CNO Financial Group Trading Up 1.2 %

NYSE CNO opened at $33.05 on Friday. CNO Financial Group, Inc. has a 52 week low of $22.27 and a 52 week high of $35.45. The company has a 50 day moving average price of $32.00 and a 200 day moving average price of $28.89. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 1.66. The firm has a market cap of $3.50 billion, a PE ratio of 9.64 and a beta of 1.01.

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

CNO Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 24th. Investors of record on Tuesday, September 10th will be given a $0.16 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $0.64 dividend on an annualized basis and a yield of 1.94%. CNO Financial Group’s dividend payout ratio is currently 18.66%.

Insiders Place Their Bets

In other CNO Financial Group news, insider Jeanne L. Linnenbringer sold 5,435 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $34.26, for a total value 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 $1,290,334.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other CNO Financial Group 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 transaction, the insider now owns 37,663 shares in the company, valued at $1,290,334.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeanne L. Linnenbringer sold 5,364 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 44,884 shares of the company’s stock, valued at $1,565,553.92. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CNO has been the subject of several recent analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $37.00 price objective on shares of CNO Financial Group in a research note on Friday. Keefe, Bruyette & Woods upped 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 report on Monday, July 8th. Evercore ISI boosted their price target on CNO Financial Group from $27.00 to $29.00 and gave the company an “underperform” rating in a report on Wednesday, July 31st. Finally, Royal Bank of Canada increased their target price 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average 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.