Raymond James Financial Inc. Acquires New Shares in CNO Financial Group, Inc. (NYSE:CNO)

Raymond James Financial Inc. acquired a new position in CNO Financial Group, Inc. (NYSE:CNO) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 61,676 shares of the financial services provider’s stock, valued at approximately $2,295,000. Raymond James Financial Inc. owned 0.06% of CNO Financial Group as of its most recent SEC filing.

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

Insiders Place Their Bets

In other news, insider Scott L. Goldberg sold 25,500 shares of CNO Financial Group stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $40.11, for a total value of $1,022,805.00. Following the completion of the sale, the insider now directly owns 169,342 shares in the company, valued at approximately $6,792,307.62. The trade was a 13.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Matthew J. Zimpfer sold 40,800 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $40.10, for a total value of $1,636,080.00. Following the completion of the transaction, the general counsel now owns 204,143 shares in the company, valued at $8,186,134.30. The trade was a 16.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 144,819 shares of company stock worth $5,886,922 in the last 90 days. Company insiders own 3.00% of the company’s stock.

CNO Financial Group Stock Down 1.9 %

CNO Financial Group stock opened at $41.46 on Monday. 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 company’s 50-day moving average is $40.45 and its 200-day moving average is $38.10. The firm has a market capitalization of $4.16 billion, a PE ratio of 11.09 and a beta of 1.02. CNO Financial Group, Inc. has a fifty-two week low of $24.92 and a fifty-two week high of $43.20.

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

CNO Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date was Monday, March 10th. CNO Financial Group’s dividend payout ratio is 17.11%.

Analyst Upgrades and Downgrades

CNO has been the topic of several recent analyst reports. BMO Capital Markets began coverage on CNO Financial Group in a report on Thursday, January 23rd. They issued a “market perform” rating and a $38.00 target price on the stock. Jefferies Financial Group upped their target price on shares of CNO Financial Group from $36.00 to $41.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. Piper Sandler reaffirmed an “overweight” rating and set a $46.00 price target (up previously from $44.00) on shares of CNO Financial Group in a research note on Monday, February 10th. Keefe, Bruyette & Woods lifted their price objective on CNO Financial Group from $42.00 to $44.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 12th. Finally, Royal Bank of Canada upped their target price on shares of CNO Financial Group from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target 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.