Swiss National Bank Lowers Holdings in CNO Financial Group, Inc. (NYSE:CNO)

Swiss National Bank decreased its stake in shares of CNO Financial Group, Inc. (NYSE:CNO) by 1.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 211,400 shares of the financial services provider’s stock after selling 2,400 shares during the quarter. Swiss National Bank owned about 0.20% of CNO Financial Group worth $7,420,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CNO. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of CNO Financial Group in the second quarter worth $852,000. DekaBank Deutsche Girozentrale raised its stake in shares of CNO Financial Group by 680.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 34,584 shares of the financial services provider’s stock worth $949,000 after purchasing an additional 30,150 shares during the last quarter. Interval Partners LP purchased a new position in shares of CNO Financial Group in the second quarter worth $2,360,000. Allspring Global Investments Holdings LLC raised its stake in shares of CNO Financial Group by 97.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 622,348 shares of the financial services provider’s stock worth $17,251,000 after purchasing an additional 306,751 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of CNO Financial Group by 455.1% in the second quarter. Victory Capital Management Inc. now owns 777,271 shares of the financial services provider’s stock worth $21,546,000 after purchasing an additional 637,254 shares during the last quarter. Hedge funds and other institutional investors own 95.43% of the company’s stock.

Insider Buying and Selling at CNO Financial Group

In other news, insider Jeanne L. Linnenbringer sold 5,364 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $34.88, for a total value of $187,096.32. Following the transaction, the insider now directly owns 44,884 shares in the company, valued at $1,565,553.92. The trade was a 10.68 % 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. Also, insider Jeremy David Williams sold 4,783 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $40.09, for a total value of $191,750.47. Following the completion of the transaction, the insider now owns 62,121 shares in the company, valued at $2,490,430.89. The trade was a 7.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,560 shares of company stock valued at $720,550. Company insiders own 3.21% of the company’s stock.

Analyst Ratings Changes

CNO has been the subject of several recent analyst reports. Evercore ISI boosted their price target on CNO Financial Group from $27.00 to $29.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 31st. Piper Sandler boosted their price target on CNO Financial Group from $37.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada lifted their price objective on CNO Financial Group from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, CNO Financial Group presently has a consensus rating of “Hold” and an average target price of $34.50.

CNO Financial Group Stock Performance

Shares of CNO opened at $40.33 on Tuesday. 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, Inc. has a one year low of $24.92 and a one year high of $40.78. The firm has a market capitalization of $4.16 billion, a P/E ratio of 16.26 and a beta of 1.01. The business has a fifty day moving average of $36.19 and a 200 day moving average of $32.30.

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

CNO Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 10th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.59%. The ex-dividend date is Tuesday, December 10th. CNO Financial Group’s dividend 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.