The Manufacturers Life Insurance Company Sells 2,822 Shares of CNO Financial Group, Inc. (NYSE:CNO)

The Manufacturers Life Insurance Company reduced its holdings in CNO Financial Group, Inc. (NYSE:CNO) by 2.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 127,545 shares of the financial services provider’s stock after selling 2,822 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.12% of CNO Financial Group worth $3,536,000 as of its most recent SEC filing.

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

CNO Financial Group Stock Performance

Shares of NYSE:CNO opened at $33.99 on Tuesday. The business’s fifty day moving average price is $33.57 and its two-hundred day moving average price is $29.80. CNO Financial Group, Inc. has a fifty-two week low of $22.27 and a fifty-two week high of $35.63. The stock has a market capitalization of $3.68 billion, a price-to-earnings ratio of 9.91 and a beta of 1.01. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.19 and a quick ratio of 0.19.

CNO Financial Group (NYSE:CNO) last announced its quarterly earnings results on Monday, July 29th. The financial services provider reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $929.99 million. During the same period in the prior year, the business posted $0.54 earnings per share. The business’s revenue was up 4.2% compared to the same quarter last year. As a group, analysts predict that CNO Financial Group, Inc. will post 3.43 EPS for the current fiscal year.

CNO Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 24th. Shareholders of record on Tuesday, September 10th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date was Tuesday, September 10th. CNO Financial Group’s dividend payout ratio (DPR) is 18.66%.

Insiders Place Their Bets

In related news, insider Jeanne L. Linnenbringer sold 5,435 shares of CNO Financial Group stock in a transaction dated 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 trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Jeanne L. Linnenbringer sold 5,364 shares of the firm’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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jeanne L. Linnenbringer sold 5,435 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $34.26, for a total transaction of $186,203.10. Following the completion of the sale, the insider now directly owns 37,663 shares of the company’s stock, valued at approximately $1,290,334.38. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CNO shares. Evercore ISI boosted their price objective on CNO Financial Group from $27.00 to $29.00 and gave the company an “underperform” rating in a research report on Wednesday, July 31st. Piper Sandler boosted their price objective on CNO Financial Group from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada boosted their price objective on CNO Financial Group from $30.00 to $38.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods boosted their price objective on CNO Financial Group from $30.00 to $31.00 and gave the company a “market perform” rating in a research report on Monday, July 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $34.00.

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.