Victory Capital Management Inc. Sells 2,925 Shares of CNO Financial Group, Inc. (NYSE:CNO)

Victory Capital Management Inc. reduced its holdings in shares of CNO Financial Group, Inc. (NYSE:CNO) by 0.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 774,346 shares of the financial services provider’s stock after selling 2,925 shares during the quarter. Victory Capital Management Inc.’s holdings in CNO Financial Group were worth $27,180,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. American Century Companies Inc. grew its stake in shares of CNO Financial Group by 19.4% in the second quarter. American Century Companies Inc. now owns 2,117,416 shares of the financial services provider’s stock valued at $58,695,000 after buying an additional 343,819 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of CNO Financial Group by 300.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,199,040 shares of the financial services provider’s stock valued at $42,086,000 after acquiring an additional 899,990 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of CNO Financial Group by 97.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 622,348 shares of the financial services provider’s stock valued at $17,251,000 after purchasing an additional 306,751 shares during the period. Easterly Investment Partners LLC lifted its stake in CNO Financial Group by 3.8% in the 3rd quarter. Easterly Investment Partners LLC now owns 609,624 shares of the financial services provider’s stock valued at $21,398,000 after purchasing an additional 22,453 shares during the last quarter. Finally, Federated Hermes Inc. grew its holdings in CNO Financial Group by 1.4% during the second quarter. Federated Hermes Inc. now owns 471,925 shares of the financial services provider’s stock worth $13,082,000 after purchasing an additional 6,356 shares during the period. 95.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other CNO Financial Group news, insider Jeremy David Williams sold 4,783 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $40.09, for a total value of $191,750.47. Following the sale, the insider now owns 62,121 shares in the company, valued at approximately $2,490,430.89. The trade was a 7.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jeanne L. Linnenbringer sold 5,435 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $34.26, for a total value of $186,203.10. Following the transaction, the insider now owns 37,663 shares of the company’s stock, valued at $1,290,334.38. This trade represents a 12.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,582 shares of company stock valued at $565,050 over the last quarter. 3.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CNO. Evercore ISI raised their price objective on CNO Financial Group from $27.00 to $29.00 and gave the company an “underperform” rating in a research report on Wednesday, July 31st. Royal Bank of Canada raised their price target on CNO Financial Group from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Finally, Piper Sandler upped their price objective on shares of CNO Financial Group from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, CNO Financial Group presently has a consensus rating of “Hold” and a consensus target price of $34.50.

CNO Financial Group Stock Performance

Shares of CNO Financial Group stock opened at $38.95 on Monday. The company’s 50 day moving average price is $35.40 and its two-hundred day moving average price is $31.80. The firm has a market capitalization of $4.02 billion, a P/E ratio of 15.71 and a beta of 1.01. CNO Financial Group, Inc. has a fifty-two week low of $24.92 and a fifty-two week high of $40.29. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.19 and a quick ratio of 0.19.

CNO Financial Group (NYSE:CNO) last announced its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.29. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $945.44 million. CNO Financial Group had a return on equity of 17.53% and a net margin of 6.06%. CNO Financial Group’s revenue was up 19.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.88 EPS. On average, equities analysts forecast that CNO Financial Group, Inc. will post 3.73 earnings per share for the current fiscal year.

CNO Financial Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 10th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Tuesday, December 10th. CNO Financial Group’s dividend payout ratio (DPR) is currently 25.81%.

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.