SG Americas Securities LLC Has $177,000 Position in CNO Financial Group, Inc. (NYSE:CNO)

SG Americas Securities LLC cut its position in shares of CNO Financial Group, Inc. (NYSE:CNO) by 53.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,403 shares of the financial services provider’s stock after selling 7,242 shares during the period. SG Americas Securities LLC’s holdings in CNO Financial Group were worth $177,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank bought a new position in CNO Financial Group during the fourth quarter worth about $26,295,000. Retirement Systems of Alabama bought a new position in shares of CNO Financial Group during the 4th quarter worth approximately $10,568,000. Allspring Global Investments Holdings LLC increased its holdings in shares of CNO Financial Group by 1,862.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 315,597 shares of the financial services provider’s stock worth $8,673,000 after acquiring an additional 299,516 shares during the last quarter. Hillsdale Investment Management Inc. bought a new stake in CNO Financial Group in the 4th quarter valued at $4,071,000. Finally, Principal Financial Group Inc. lifted its holdings in CNO Financial Group by 3.6% during the 4th quarter. Principal Financial Group Inc. now owns 2,226,375 shares of the financial services provider’s stock valued at $62,116,000 after purchasing an additional 76,514 shares during the last quarter. 95.43% of the stock is owned by institutional investors.

CNO Financial Group Price Performance

NYSE:CNO opened at $33.87 on Friday. CNO Financial Group, Inc. has a 52 week low of $22.27 and a 52 week high of $35.45. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.18 and a current ratio of 0.19. The firm’s 50-day simple moving average is $30.17 and its 200 day simple moving average is $28.18. The firm has a market cap of $3.67 billion, a price-to-earnings ratio of 9.87 and a beta of 1.04.

CNO Financial Group (NYSE:CNO) last announced its earnings results on Monday, July 29th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.33. CNO Financial Group had a net margin of 9.96% and a return on equity of 18.30%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $929.99 million. During the same quarter in the prior year, the business posted $0.54 EPS. The business’s revenue was up 4.2% compared to the same quarter last year. As a group, sell-side analysts predict that CNO Financial Group, Inc. will post 3.21 earnings per share for the current year.

CNO Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 24th. Shareholders of record on Tuesday, September 10th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $0.64 annualized dividend and a yield of 1.89%. CNO Financial Group’s dividend payout ratio is presently 18.66%.

Insider Buying and Selling at CNO Financial Group

In related news, insider Michael E. Mead sold 5,013 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $28.85, for a total value of $144,625.05. Following the transaction, the insider now owns 36,522 shares in the company, valued at $1,053,659.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Michael E. Mead sold 5,013 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $28.85, for a total transaction of $144,625.05. Following the completion of 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 legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael E. Mead sold 7,690 shares of CNO Financial Group stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $28.30, for a total transaction of $217,627.00. Following the completion of the transaction, the insider now directly owns 41,535 shares in the company, valued at $1,175,440.50. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CNO. Piper Sandler upped their price objective 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. Royal Bank of Canada upped their price target on shares of CNO Financial Group from $30.00 to $38.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Evercore ISI raised their price objective on shares of CNO Financial Group from $27.00 to $29.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods upped their target price on CNO Financial Group from $30.00 to $31.00 and gave the company a “market perform” rating in a research report on Monday, July 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $30.60.

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.