Acadian Asset Management LLC Acquires Shares of 5,469 CNO Financial Group, Inc. (NYSE:CNO)

Acadian Asset Management LLC bought a new position in CNO Financial Group, Inc. (NYSE:CNO) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 5,469 shares of the financial services provider’s stock, valued at approximately $151,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Norges Bank purchased a new position in CNO Financial Group in the 4th quarter valued at approximately $26,295,000. Victory Capital Management Inc. raised its stake in shares of CNO Financial Group by 455.1% during the 2nd quarter. Victory Capital Management Inc. now owns 777,271 shares of the financial services provider’s stock valued at $21,546,000 after purchasing an additional 637,254 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in CNO Financial Group by 97.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 622,348 shares of the financial services provider’s stock worth $17,251,000 after purchasing an additional 306,751 shares in the last quarter. Hantz Financial Services Inc. bought a new position in CNO Financial Group in the 2nd quarter worth about $2,489,000. Finally, Congress Asset Management Co. MA grew its holdings in CNO Financial Group by 43.7% during the 4th quarter. Congress Asset Management Co. MA now owns 157,126 shares of the financial services provider’s stock valued at $4,384,000 after buying an additional 47,762 shares in the last quarter. Institutional investors own 95.43% of the company’s stock.

Analysts Set New Price Targets

CNO has been the subject of several recent analyst reports. Keefe, Bruyette & Woods boosted their price objective on shares of CNO Financial Group from $30.00 to $31.00 and gave the company a “market perform” rating in a research note on Monday, July 8th. Evercore ISI boosted their price target on shares of CNO Financial Group from $27.00 to $29.00 and gave the company an “underperform” rating in a research report on Wednesday, July 31st. Piper Sandler reiterated an “overweight” rating and issued a $37.00 price objective on shares of CNO Financial Group in a research report on Friday, September 13th. Finally, Royal Bank of Canada boosted their target price on CNO Financial Group from $30.00 to $38.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $33.75.

CNO Financial Group Stock Performance

NYSE CNO opened at $35.34 on Friday. CNO Financial Group, Inc. has a 52-week low of $22.27 and a 52-week high of $35.56. The company has a fifty day moving average of $32.51 and a 200-day moving average of $29.10. The company has a market capitalization of $3.83 billion, a P/E ratio of 10.27 and a beta of 1.01. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.19 and a current ratio of 0.19.

CNO Financial Group (NYSE:CNO) last issued its quarterly earnings results on Monday, July 29th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.33. CNO Financial Group had a return on equity of 18.30% and a net margin of 9.96%. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $929.99 million. During the same quarter in the previous year, the company posted $0.54 earnings per share. The company’s revenue was up 4.2% compared to the same quarter last year. As a group, equities research analysts predict that CNO Financial Group, Inc. will post 3.43 EPS for the current fiscal year.

CNO Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 24th. Shareholders of record on Tuesday, September 10th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Tuesday, September 10th. CNO Financial Group’s dividend payout ratio is currently 18.66%.

Insiders Place Their Bets

In related news, insider Jeanne L. Linnenbringer sold 5,364 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $34.88, for a total transaction of $187,096.32. Following the transaction, the insider now owns 44,884 shares of the company’s stock, valued at approximately $1,565,553.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other CNO Financial Group news, insider Jeanne L. Linnenbringer sold 5,435 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $34.26, for a total value of $186,203.10. Following the completion of the sale, the insider now owns 37,663 shares in the company, valued at $1,290,334.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeanne L. Linnenbringer sold 5,364 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $34.88, for a total transaction of $187,096.32. Following the completion of the transaction, the insider now owns 44,884 shares in the company, valued at approximately $1,565,553.92. The disclosure for this sale can be found here. 3.00% of the stock is owned by insiders.

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.