CNO Financial Group, Inc. (NYSE:CNO) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in shares of CNO Financial Group, Inc. (NYSE:CNO) by 11.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,037,287 shares of the financial services provider’s stock after selling 130,944 shares during the period. Bank of New York Mellon Corp owned about 1.01% of CNO Financial Group worth $38,597,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CNO. State of Alaska Department of Revenue raised its position in shares of CNO Financial Group by 3.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 12,290 shares of the financial services provider’s stock valued at $431,000 after acquiring an additional 415 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in shares of CNO Financial Group by 131.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 32,141 shares of the financial services provider’s stock valued at $1,128,000 after acquiring an additional 18,257 shares in the last quarter. Robeco Institutional Asset Management B.V. acquired a new stake in CNO Financial Group in the third quarter worth $209,000. QRG Capital Management Inc. increased its position in CNO Financial Group by 6.6% in the third quarter. QRG Capital Management Inc. now owns 77,327 shares of the financial services provider’s stock worth $2,714,000 after buying an additional 4,766 shares during the period. Finally, Easterly Investment Partners LLC increased its position in CNO Financial Group by 3.8% in the third quarter. Easterly Investment Partners LLC now owns 609,624 shares of the financial services provider’s stock worth $21,398,000 after buying an additional 22,453 shares during the period. 95.43% of the stock is owned by institutional investors and hedge funds.

CNO Financial Group Price Performance

Shares of CNO opened at $39.67 on Friday. The firm has a market capitalization of $4.00 billion, a price-to-earnings ratio of 10.61 and a beta of 1.02. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.19 and a current ratio of 0.22. CNO Financial Group, Inc. has a one year low of $24.92 and a one year high of $42.41. The stock’s fifty day moving average is $39.34 and its 200-day moving average is $37.23.

CNO Financial Group (NYSE:CNO) last issued its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.25. CNO Financial Group had a return on equity of 17.20% and a net margin of 9.08%. Equities analysts anticipate that CNO Financial Group, Inc. will post 3.83 EPS for the current year.

CNO Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be paid a dividend of $0.16 per share. The ex-dividend date is Monday, March 10th. This represents a $0.64 annualized dividend and a yield of 1.61%. CNO Financial Group’s dividend payout ratio is currently 17.11%.

Insider Activity at CNO Financial Group

In related news, CMO Rocco F. Tarasi III sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $37.51, for a total transaction of $168,795.00. Following the completion of the transaction, the chief marketing officer now owns 72,896 shares of the company’s stock, valued at $2,734,328.96. This trade represents a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Matthew J. Zimpfer sold 40,800 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $40.10, for a total value of $1,636,080.00. Following the transaction, the general counsel now directly owns 204,143 shares of the company’s stock, valued at $8,186,134.30. This represents a 16.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 138,584 shares of company stock valued at $5,597,404 over the last 90 days. 3.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CNO shares. Royal Bank of Canada increased their target price on CNO Financial Group from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, February 10th. Jefferies Financial Group increased their target price on CNO Financial Group from $36.00 to $41.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. Piper Sandler reaffirmed an “overweight” rating and issued a $46.00 target price (up from $44.00) on shares of CNO Financial Group in a research report on Monday, February 10th. BMO Capital Markets started coverage on CNO Financial Group in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $38.00 target price on the stock. Finally, Keefe, Bruyette & Woods increased their target price on CNO Financial Group from $42.00 to $44.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, CNO Financial Group presently has a consensus rating of “Hold” and an average target price of $40.50.

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.