Connor Clark & Lunn Investment Management Ltd. trimmed its stake in shares of CNO Financial Group, Inc. (NYSE:CNO – Free Report) by 79.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,308 shares of the financial services provider’s stock after selling 115,276 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in CNO Financial Group were worth $1,029,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the stock. State of Alaska Department of Revenue lifted its position in shares of CNO Financial Group by 3.5% during the third quarter. State of Alaska Department of Revenue now owns 12,290 shares of the financial services provider’s stock worth $431,000 after purchasing an additional 415 shares in the last quarter. CWM LLC lifted its position in shares of CNO Financial Group by 64.1% during the second quarter. CWM LLC now owns 1,144 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 447 shares in the last quarter. Blue Trust Inc. lifted its position in shares of CNO Financial Group by 25.4% during the second quarter. Blue Trust Inc. now owns 2,384 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 483 shares in the last quarter. Point72 Hong Kong Ltd lifted its position in shares of CNO Financial Group by 1.8% during the second quarter. Point72 Hong Kong Ltd now owns 28,700 shares of the financial services provider’s stock worth $796,000 after purchasing an additional 511 shares in the last quarter. Finally, Bailard Inc. lifted its position in shares of CNO Financial Group by 2.5% during the second quarter. Bailard Inc. now owns 24,300 shares of the financial services provider’s stock worth $674,000 after purchasing an additional 600 shares in the last quarter. 95.43% of the stock is currently owned by institutional investors and hedge funds.
CNO Financial Group Trading Down 0.8 %
Shares of NYSE CNO opened at $40.16 on Thursday. The company’s 50 day simple moving average is $36.31 and its 200 day simple moving average is $32.39. CNO Financial Group, Inc. has a fifty-two week low of $24.92 and a fifty-two week high of $40.91. The firm has a market capitalization of $4.14 billion, a P/E ratio of 16.15 and a beta of 1.01. 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 Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 10th will be issued a $0.16 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $0.64 annualized dividend and a yield of 1.59%. CNO Financial Group’s dividend payout ratio (DPR) is presently 25.81%.
Insiders Place Their Bets
In other news, insider Jeanne L. Linnenbringer sold 5,435 shares of the stock in a transaction 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 owns 37,663 shares of the company’s stock, valued at $1,290,334.38. This represents a 12.61 % 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, CIO Eric R. Johnson sold 3,978 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $39.09, for a total transaction of $155,500.02. Following the sale, the executive now directly owns 631,844 shares of the company’s stock, valued at $24,698,781.96. This represents a 0.63 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,560 shares of company stock worth $720,550. Company insiders own 3.21% of the company’s stock.
Wall Street Analyst Weigh In
CNO has been the topic of a number of research reports. Royal Bank of Canada upped their target price on shares of CNO Financial Group from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Piper Sandler increased their price objective on shares of CNO Financial Group from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Finally, Evercore ISI increased their price objective on shares of CNO Financial Group from $27.00 to $29.00 and gave the company an “underperform” rating in a report on Wednesday, July 31st. 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $34.50.
Check Out Our Latest Analysis on CNO Financial Group
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.
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