HighTower Advisors LLC Cuts Stock Holdings in CNO Financial Group, Inc. (NYSE:CNO)

HighTower Advisors LLC lowered its stake in CNO Financial Group, Inc. (NYSE:CNO) by 10.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,479 shares of the financial services provider’s stock after selling 876 shares during the quarter. HighTower Advisors LLC’s holdings in CNO Financial Group were worth $261,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of CNO Financial Group during the 2nd quarter valued at approximately $852,000. DekaBank Deutsche Girozentrale grew its stake in shares of CNO Financial Group by 680.0% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 34,584 shares of the financial services provider’s stock worth $949,000 after buying an additional 30,150 shares in the last quarter. Interval Partners LP bought a new stake in shares of CNO Financial Group in the 2nd quarter worth about $2,360,000. BNP Paribas Financial Markets raised its position in shares of CNO Financial Group by 69.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 39,946 shares of the financial services provider’s stock valued at $1,402,000 after buying an additional 16,420 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of 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 valued at $17,251,000 after acquiring an additional 306,751 shares during the last quarter. Institutional investors own 95.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CNO. Piper Sandler boosted their price objective on CNO Financial Group from $42.00 to $44.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Jefferies Financial Group boosted their target price on CNO Financial Group from $36.00 to $41.00 and gave the company a “hold” rating in a research report on Tuesday, December 10th. Finally, Royal Bank of Canada increased their price target on CNO Financial Group from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $37.00.

Insider Buying and Selling

In other CNO Financial Group news, CMO Rocco F. Tarasi III sold 4,500 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $37.51, for a total value of $168,795.00. Following the completion of the sale, the chief marketing officer now directly owns 72,896 shares in the company, valued at approximately $2,734,328.96. This represents a 5.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CIO Eric R. Johnson sold 3,978 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $39.09, for a total value of $155,500.02. Following the transaction, the executive now owns 631,844 shares in the company, valued at approximately $24,698,781.96. This represents a 0.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,745 shares of company stock valued at $572,467 in the last 90 days. Company insiders own 3.00% of the company’s stock.

CNO Financial Group Stock Up 0.4 %

Shares of NYSE:CNO opened at $37.13 on Wednesday. The firm has a market capitalization of $3.83 billion, a PE ratio of 14.97 and a beta of 1.02. The business has a 50 day simple moving average of $37.72 and a two-hundred day simple moving average of $33.79. CNO Financial Group, Inc. has a 1 year low of $24.92 and a 1 year high of $40.91. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.19 and a quick ratio of 0.19.

CNO Financial Group (NYSE:CNO) last posted its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.29. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $945.44 million. CNO Financial Group had a return on equity of 17.53% and a net margin of 6.06%. CNO Financial Group’s revenue was up 19.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.88 EPS. On average, equities analysts predict that CNO Financial Group, Inc. will post 3.73 EPS for the current year.

CNO Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 10th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date was Tuesday, December 10th. CNO Financial Group’s payout ratio is presently 25.81%.

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.