Cornercap Investment Counsel Inc. Decreases Holdings in CNO Financial Group, Inc. (NYSE:CNO)

Cornercap Investment Counsel Inc. lowered its stake in shares of CNO Financial Group, Inc. (NYSE:CNO) by 46.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,364 shares of the financial services provider’s stock after selling 9,025 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in CNO Financial Group were worth $386,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Pacer Advisors Inc. grew its position in shares of CNO Financial Group by 58.7% during the 4th quarter. Pacer Advisors Inc. now owns 24,580 shares of the financial services provider’s stock valued at $915,000 after acquiring an additional 9,096 shares during the period. Principal Securities Inc. grew its holdings in CNO Financial Group by 51.6% during the fourth quarter. Principal Securities Inc. now owns 955 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 325 shares during the period. Blue Trust Inc. increased its position in CNO Financial Group by 7.4% in the fourth quarter. Blue Trust Inc. now owns 6,737 shares of the financial services provider’s stock worth $236,000 after buying an additional 464 shares during the last quarter. KBC Group NV raised its stake in shares of CNO Financial Group by 49.0% in the fourth quarter. KBC Group NV now owns 4,990 shares of the financial services provider’s stock valued at $186,000 after buying an additional 1,641 shares during the period. Finally, Proficio Capital Partners LLC purchased a new position in shares of CNO Financial Group during the 4th quarter valued at $903,000. Hedge funds and other institutional investors own 95.43% of the company’s stock.

Insider Transactions at CNO Financial Group

In other news, insider Yvonne K. Franzese sold 2,013 shares of the company’s stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $42.18, for a total value of $84,908.34. Following the completion of the transaction, the insider now directly owns 26,994 shares in the company, valued at approximately $1,138,606.92. This represents a 6.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Matthew J. Zimpfer sold 40,800 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $41.49, for a total value of $1,692,792.00. Following the transaction, the general counsel now directly owns 244,943 shares in the company, valued at approximately $10,162,685.07. This represents a 14.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 144,819 shares of company stock valued at $5,886,922 in the last quarter. Insiders own 3.21% of the company’s stock.

CNO Financial Group Price Performance

NYSE:CNO opened at $41.46 on Friday. CNO Financial Group, Inc. has a 52-week low of $24.92 and a 52-week high of $43.20. The stock has a fifty day moving average of $40.45 and a 200 day moving average of $38.06. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.19 and a current ratio of 0.22. The firm has a market capitalization of $4.16 billion, a price-to-earnings ratio of 11.09 and a beta of 1.02.

CNO Financial Group (NYSE:CNO) last issued its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.31 earnings per share (EPS) 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%. On average, research analysts expect that CNO Financial Group, Inc. will post 3.83 EPS for the current fiscal year.

CNO Financial Group Dividend Announcement

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

Analyst Upgrades and Downgrades

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