First Hawaiian Bank Sells 16,460 Shares of CNO Financial Group, Inc. (NYSE:CNO)

First Hawaiian Bank lessened its position in shares of CNO Financial Group, Inc. (NYSE:CNO) by 30.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,013 shares of the financial services provider’s stock after selling 16,460 shares during the quarter. First Hawaiian Bank’s holdings in CNO Financial Group were worth $1,045,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of CNO Financial Group during the 4th quarter worth about $26,295,000. Retirement Systems of Alabama bought a new stake in shares of CNO Financial Group in the 4th quarter valued at $10,568,000. Assenagon Asset Management S.A. raised its stake in CNO Financial Group by 97.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 587,569 shares of the financial services provider’s stock worth $16,393,000 after buying an additional 290,585 shares during the period. AQR Capital Management LLC lifted its holdings in CNO Financial Group by 13.9% during the third quarter. AQR Capital Management LLC now owns 2,189,796 shares of the financial services provider’s stock worth $51,964,000 after acquiring an additional 266,945 shares in the last quarter. Finally, Invesco Ltd. grew its stake in CNO Financial Group by 45.1% in the third quarter. Invesco Ltd. now owns 722,688 shares of the financial services provider’s stock valued at $17,149,000 after acquiring an additional 224,653 shares during the period. 95.43% of the stock is currently owned by institutional investors and hedge funds.

CNO Financial Group Trading Down 0.3 %

Shares of NYSE:CNO opened at $27.18 on Thursday. The company’s 50-day moving average price is $27.34 and its two-hundred day moving average price is $27.15. CNO Financial Group, Inc. has a one year low of $22.06 and a one year high of $29.09. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.18 and a quick ratio of 0.18. The stock has a market capitalization of $2.94 billion, a PE ratio of 7.92 and a beta of 1.05.

CNO Financial Group (NYSE:CNO) last released its earnings results on Monday, April 29th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.12). The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $935.76 million. CNO Financial Group had a return on equity of 16.77% and a net margin of 9.07%. The business’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.51 EPS. On average, equities analysts forecast that CNO Financial Group, Inc. will post 3.08 EPS for the current fiscal year.

CNO Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Monday, June 10th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Monday, June 10th. This is a boost from CNO Financial Group’s previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a dividend yield of 2.35%. CNO Financial Group’s dividend payout ratio (DPR) is currently 18.66%.

Insider Buying and Selling

In other CNO Financial Group news, CEO Gary C. Bhojwani sold 9,434 shares of the stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $26.87, for a total value of $253,491.58. Following the completion of the sale, the chief executive officer now owns 332,694 shares in the company, valued at $8,939,487.78. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Gary C. Bhojwani sold 9,434 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $26.87, for a total transaction of $253,491.58. Following the transaction, the chief executive officer now directly owns 332,694 shares of the company’s stock, valued at approximately $8,939,487.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Karen Detoro sold 1,307 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $26.94, for a total transaction of $35,210.58. Following the completion of the transaction, the insider now owns 75,049 shares in the company, valued at $2,021,820.06. The disclosure for this sale can be found here. Over the last three months, insiders have sold 99,712 shares of company stock worth $2,758,595. Insiders own 3.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CNO shares. Piper Sandler raised CNO Financial Group from a “neutral” rating to an “overweight” rating and set a $29.00 target price for the company in a research note on Tuesday, April 16th. StockNews.com lowered CNO Financial Group from a “buy” rating to a “hold” rating in a report on Friday, April 12th. Finally, Evercore ISI upped their price objective on CNO Financial Group from $26.00 to $27.00 and gave the stock an “underperform” rating in a research report on Wednesday, February 28th. One equities 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $27.50.

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.