CNO Financial Group, Inc. (NYSE:CNO) Stake Lowered by Geode Capital Management LLC

Geode Capital Management LLC cut its stake in CNO Financial Group, Inc. (NYSE:CNO) by 0.6% during the third quarter, HoldingsChannel reports. The fund owned 2,541,723 shares of the financial services provider’s stock after selling 16,062 shares during the quarter. Geode Capital Management LLC’s holdings in CNO Financial Group were worth $89,230,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. CWM LLC increased its position in CNO Financial Group by 64.1% in the 2nd quarter. CWM LLC now owns 1,144 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 447 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of CNO Financial Group by 25.4% during the 2nd quarter. Blue Trust Inc. now owns 2,384 shares of the financial services provider’s stock valued at $66,000 after buying an additional 483 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of CNO Financial Group by 35.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 34,714 shares of the financial services provider’s stock valued at $962,000 after buying an additional 9,100 shares in the last quarter. Fifth Third Bancorp increased its holdings in CNO Financial Group by 183.5% in the second quarter. Fifth Third Bancorp now owns 4,170 shares of the financial services provider’s stock worth $116,000 after buying an additional 2,699 shares during the last quarter. Finally, Everhart Financial Group Inc. raised its position in CNO Financial Group by 9.5% during the second quarter. Everhart Financial Group Inc. now owns 15,481 shares of the financial services provider’s stock valued at $429,000 after acquiring an additional 1,337 shares in the last quarter. 95.43% of the stock is currently owned by hedge funds and other institutional investors.

CNO Financial Group Stock Performance

CNO opened at $36.02 on Friday. CNO Financial Group, Inc. has a 12-month low of $24.92 and a 12-month high of $40.91. The firm has a market capitalization of $3.72 billion, a P/E ratio of 14.52 and a beta of 1.02. The stock’s 50 day moving average price is $37.63 and its two-hundred day moving average price is $33.53. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 1.50.

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

CNO Financial Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.78%. CNO Financial Group’s payout ratio is presently 25.81%.

Analyst Ratings Changes

Several research firms have commented on CNO. Jefferies Financial Group boosted 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 increased their target price on shares of CNO Financial Group from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Royal Bank of Canada boosted their price target on CNO Financial Group from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, CNO Financial Group has an average rating of “Hold” and a consensus target price of $37.00.

Insider Buying and Selling

In related news, insider Jeremy David Williams sold 4,783 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $40.09, for a total transaction of $191,750.47. Following the completion of the sale, the insider now owns 62,121 shares in the company, valued at $2,490,430.89. This trade represents a 7.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CIO Eric R. Johnson sold 3,978 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $39.09, for a total transaction of $155,500.02. Following the completion of the transaction, the executive now owns 631,844 shares in the company, valued at approximately $24,698,781.96. This trade represents a 0.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,745 shares of company stock worth $572,467 in the last 90 days. 3.21% of the stock is owned by company insiders.

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.