Summit Investment Advisors Inc. Sells 533 Shares of CNO Financial Group, Inc. (NYSE:CNO)

Summit Investment Advisors Inc. trimmed its holdings in shares of CNO Financial Group, Inc. (NYSE:CNO) by 1.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,691 shares of the financial services provider’s stock after selling 533 shares during the quarter. Summit Investment Advisors Inc.’s holdings in CNO Financial Group were worth $1,179,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Barclays PLC increased its stake in shares of CNO Financial Group by 113.7% during the 3rd quarter. Barclays PLC now owns 219,141 shares of the financial services provider’s stock worth $7,691,000 after purchasing an additional 116,617 shares during the last quarter. Tidal Investments LLC increased its position in CNO Financial Group by 11.3% in the third quarter. Tidal Investments LLC now owns 11,246 shares of the financial services provider’s stock worth $395,000 after buying an additional 1,145 shares during the last quarter. DGS Capital Management LLC bought a new stake in shares of CNO Financial Group in the third quarter valued at $256,000. Principal Financial Group Inc. lifted its position in shares of CNO Financial Group by 6.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,899,599 shares of the financial services provider’s stock valued at $66,676,000 after buying an additional 107,589 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of CNO Financial Group by 15.3% during the 4th quarter. GAMMA Investing LLC now owns 2,289 shares of the financial services provider’s stock worth $85,000 after acquiring an additional 304 shares during the period. 95.43% of the stock is currently owned by institutional investors.

Insider Activity

In related news, General Counsel Matthew J. Zimpfer sold 40,800 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $41.49, for a total transaction of $1,692,792.00. Following the sale, the general counsel now owns 244,943 shares of the company’s stock, valued at $10,162,685.07. The trade was a 14.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jeremy David Williams sold 3,393 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $41.77, for a total transaction of $141,725.61. Following the transaction, the insider now directly owns 56,599 shares of the company’s stock, valued at $2,364,140.23. This represents a 5.66 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 159,512 shares of company stock worth $6,497,710. Corporate insiders own 3.00% of the company’s stock.

Wall Street Analyst Weigh In

CNO has been the subject of several analyst reports. Royal Bank of Canada raised their price objective on shares of CNO Financial Group from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, February 10th. BMO Capital Markets began coverage on CNO Financial Group in a report on Thursday, January 23rd. They set a “market perform” rating and a $38.00 price objective on the stock. Piper Sandler lifted their target price on CNO Financial Group from $46.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods upped their price target on CNO Financial Group from $42.00 to $44.00 and gave the company a “market perform” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $41.00.

CNO Financial Group Stock Down 0.1 %

Shares of NYSE CNO opened at $38.14 on Thursday. The firm has a fifty day simple moving average of $40.12 and a two-hundred day simple moving average of $38.45. CNO Financial Group, Inc. has a 12 month low of $25.08 and a 12 month high of $43.20. The company has a current ratio of 0.22, a quick ratio of 0.19 and a debt-to-equity ratio of 1.61. The firm has a market capitalization of $3.82 billion, a PE ratio of 10.20 and a beta of 0.90.

CNO Financial Group (NYSE:CNO) last released its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.25. CNO Financial Group had a net margin of 9.08% and a return on equity of 17.20%. Equities analysts expect 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 given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend was Monday, March 10th. CNO Financial Group’s dividend payout ratio is currently 17.11%.

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.