PNC Financial Services Group Inc. Lowers Holdings in CNO Financial Group, Inc. (NYSE:CNO)

PNC Financial Services Group Inc. decreased its holdings in shares of CNO Financial Group, Inc. (NYSE:CNO) by 6.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 6,662 shares of the financial services provider’s stock after selling 440 shares during the quarter. PNC Financial Services Group Inc.’s holdings in CNO Financial Group were worth $186,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Daiwa Securities Group Inc. purchased a new stake in CNO Financial Group in the 4th quarter valued at about $50,000. Assetmark Inc. boosted its stake in CNO Financial Group by 33.4% during the fourth quarter. Assetmark Inc. now owns 5,557 shares of the financial services provider’s stock worth $155,000 after buying an additional 1,391 shares during the period. Versor Investments LP acquired a new stake in shares of CNO Financial Group during the fourth quarter valued at about $269,000. Everhart Financial Group Inc. raised its stake in shares of CNO Financial Group by 8.8% in the 4th quarter. Everhart Financial Group Inc. now owns 11,874 shares of the financial services provider’s stock valued at $331,000 after acquiring an additional 963 shares during the period. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of CNO Financial Group in the 4th quarter worth approximately $408,000. Institutional investors and hedge funds own 95.43% of the company’s stock.

Insider Transactions at CNO Financial Group

In related news, CMO Rocco F. Tarasi III sold 3,197 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $28.00, for a total value of $89,516.00. Following the sale, the chief marketing officer now owns 84,880 shares of the company’s stock, valued at $2,376,640. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Michael E. Mead sold 5,013 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $28.85, for a total transaction of $144,625.05. Following the sale, the insider now owns 36,522 shares of the company’s stock, valued at approximately $1,053,659.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Rocco F. Tarasi III sold 3,197 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $28.00, for a total value of $89,516.00. Following the completion of the transaction, the chief marketing officer now directly owns 84,880 shares of the company’s stock, valued at $2,376,640. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,199 shares of company stock valued at $1,051,145. 3.21% of the stock is currently owned by corporate insiders.

CNO Financial Group Price Performance

Shares of CNO opened at $27.89 on Thursday. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.41. CNO Financial Group, Inc. has a fifty-two week low of $22.27 and a fifty-two week high of $29.09. The company has a market cap of $3.02 billion, a P/E ratio of 8.13 and a beta of 1.04. The firm’s 50 day moving average price is $27.72 and its 200 day moving average price is $27.23.

CNO Financial Group (NYSE:CNO) last announced its quarterly earnings data 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). CNO Financial Group had a net margin of 9.07% and a return on equity of 16.77%. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $935.76 million. During the same quarter in the previous year, the business posted $0.51 earnings per share. The firm’s revenue was up 15.0% on a year-over-year basis. On average, research analysts forecast that CNO Financial Group, Inc. will post 3.08 earnings per share for the current fiscal year.

CNO Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Monday, June 10th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.29%. The ex-dividend date was Monday, June 10th. This is a boost from CNO Financial Group’s previous quarterly dividend of $0.15. CNO Financial Group’s dividend payout ratio (DPR) is presently 18.66%.

Wall Street Analyst Weigh In

CNO has been the subject of several research reports. Piper Sandler lifted their target price on shares of CNO Financial Group from $29.00 to $31.00 and gave the company an “overweight” rating in a report on Friday, June 28th. StockNews.com lowered CNO Financial Group from a “buy” rating to a “hold” rating in a research report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $28.00.

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.