Goldman Sachs Group Inc. Reduces Holdings in CNO Financial Group, Inc. (NYSE:CNO)

Goldman Sachs Group Inc. reduced its position in CNO Financial Group, Inc. (NYSE:CNO) by 20.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,821,106 shares of the financial services provider’s stock after selling 480,975 shares during the period. Goldman Sachs Group Inc. owned approximately 1.67% of CNO Financial Group worth $50,809,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Daiwa Securities Group Inc. acquired a new position in shares of CNO Financial Group in the fourth quarter worth about $50,000. Mitsubishi UFJ Trust & Banking Corp increased its holdings in CNO Financial Group by 23.2% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,438 shares of the financial services provider’s stock worth $105,000 after purchasing an additional 835 shares during the last quarter. Assetmark Inc. raised its position in shares of CNO Financial Group by 33.4% in the 4th quarter. Assetmark Inc. now owns 5,557 shares of the financial services provider’s stock valued at $155,000 after purchasing an additional 1,391 shares in the last quarter. Versor Investments LP purchased a new position in shares of CNO Financial Group during the 4th quarter valued at approximately $269,000. Finally, Everhart Financial Group Inc. grew its position in shares of CNO Financial Group by 8.8% during the fourth quarter. Everhart Financial Group Inc. now owns 11,874 shares of the financial services provider’s stock worth $331,000 after buying an additional 963 shares in the last quarter. 95.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at CNO Financial Group

In other CNO Financial Group news, insider Karen Detoro sold 1,307 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $26.94, for a total value of $35,210.58. Following the sale, the insider now directly owns 75,049 shares of the company’s stock, valued at $2,021,820.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other CNO Financial Group news, insider Michael E. Mead sold 5,013 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $28.85, for a total value of $144,625.05. Following the completion of the transaction, the insider now owns 36,522 shares in the company, valued at approximately $1,053,659.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Karen Detoro sold 1,307 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 75,049 shares in the company, valued at approximately $2,021,820.06. The disclosure for this sale can be found here. Insiders sold 99,712 shares of company stock worth $2,758,595 in the last 90 days. 3.21% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

CNO Financial Group Trading Down 0.3 %

CNO Financial Group stock opened at $27.18 on Thursday. CNO Financial Group, Inc. has a 1 year low of $22.06 and a 1 year high of $29.09. The firm’s 50-day moving average is $27.34 and its 200-day moving average is $27.15. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.18 and a current ratio of 0.18. The company has a market cap of $2.94 billion, a P/E ratio of 7.92 and a beta of 1.05.

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

CNO Financial Group Increases Dividend

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

CNO Financial Group Company 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.