Louisiana State Employees Retirement System Has $1.06 Million Stake in CNO Financial Group, Inc. (NYSE:CNO)

Louisiana State Employees Retirement System trimmed its stake in shares of CNO Financial Group, Inc. (NYSE:CNO) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,600 shares of the financial services provider’s stock after selling 700 shares during the period. Louisiana State Employees Retirement System’s holdings in CNO Financial Group were worth $1,064,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Meritage Portfolio Management lifted its position in shares of CNO Financial Group by 12.5% during the fourth quarter. Meritage Portfolio Management now owns 20,776 shares of the financial services provider’s stock worth $773,000 after purchasing an additional 2,301 shares in the last quarter. Jennison Associates LLC lifted its holdings in CNO Financial Group by 20.7% in the fourth quarter. Jennison Associates LLC now owns 62,707 shares of the financial services provider’s stock valued at $2,333,000 after buying an additional 10,774 shares during the period. Caprock Group LLC acquired a new position in CNO Financial Group in the fourth quarter valued at approximately $253,000. EMC Capital Management lifted its holdings in CNO Financial Group by 283.3% in the fourth quarter. EMC Capital Management now owns 29,605 shares of the financial services provider’s stock valued at $1,102,000 after buying an additional 21,881 shares during the period. Finally, Ibex Wealth Advisors acquired a new position in CNO Financial Group in the fourth quarter valued at approximately $738,000. 95.43% of the stock is currently owned by institutional investors and hedge funds.

CNO Financial Group Stock Down 0.2 %

Shares of NYSE:CNO opened at $41.42 on Tuesday. CNO Financial Group, Inc. has a 52 week low of $24.92 and a 52 week high of $42.02. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.19 and a current ratio of 0.19. The company has a market capitalization of $4.27 billion, a PE ratio of 11.07 and a beta of 1.04. The company has a 50 day moving average price of $38.49 and a two-hundred day moving average price of $36.51.

CNO Financial Group (NYSE:CNO) last issued its earnings results on Thursday, February 6th. The financial services provider reported $1.31 EPS for the quarter, beating the consensus estimate of $1.06 by $0.25. CNO Financial Group had a net margin of 9.08% and a return on equity of 17.21%. Analysts forecast that CNO Financial Group, Inc. will post 3.79 earnings per share for the current year.

CNO Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend is Monday, March 10th. CNO Financial Group’s dividend payout ratio is 17.11%.

Insider Transactions at CNO Financial Group

In other news, CMO Rocco F. Tarasi III sold 1,484 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $38.02, for a total transaction of $56,421.68. Following the completion of the sale, the chief marketing officer now owns 79,896 shares of the company’s stock, valued at $3,037,645.92. This represents a 1.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

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.