CNO Financial Group, Inc. $CNO Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its stake in CNO Financial Group, Inc. (NYSE:CNO) by 11.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 882,512 shares of the financial services provider’s stock after buying an additional 91,417 shares during the period. JPMorgan Chase & Co. owned 0.91% of CNO Financial Group worth $34,903,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. American Century Companies Inc. grew its holdings in CNO Financial Group by 6.2% during the second quarter. American Century Companies Inc. now owns 3,121,527 shares of the financial services provider’s stock worth $120,429,000 after acquiring an additional 183,493 shares during the period. Sequoia Financial Advisors LLC acquired a new position in shares of CNO Financial Group in the 3rd quarter worth approximately $1,077,000. AlphaQuest LLC acquired a new position in shares of CNO Financial Group in the 3rd quarter worth approximately $3,057,000. Boston Partners raised its holdings in shares of CNO Financial Group by 141.1% in the 2nd quarter. Boston Partners now owns 86,148 shares of the financial services provider’s stock worth $3,324,000 after purchasing an additional 50,411 shares in the last quarter. Finally, Cresset Asset Management LLC acquired a new stake in CNO Financial Group during the second quarter valued at approximately $1,511,000. 95.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Wall Street Zen raised CNO Financial Group from a “hold” rating to a “buy” rating in a report on Saturday. Jefferies Financial Group raised CNO Financial Group from a “hold” rating to a “buy” rating and boosted their target price for the stock from $42.00 to $47.00 in a research report on Monday, December 15th. Piper Sandler upped their target price on CNO Financial Group from $46.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, December 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of CNO Financial Group in a research note on Wednesday, January 21st. Finally, Evercore restated an “underperform” rating and set a $43.00 price objective on shares of CNO Financial Group in a report on Wednesday, February 18th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $46.25.

Insider Transactions at CNO Financial Group

In related news, CEO Gary C. Bhojwani sold 43,021 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $43.05, for a total value of $1,852,054.05. Following the completion of the sale, the chief executive officer owned 277,526 shares of the company’s stock, valued at approximately $11,947,494.30. The trade was a 13.42% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Matthew J. Zimpfer sold 33,800 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $43.05, for a total transaction of $1,455,090.00. Following the transaction, the general counsel directly owned 307,937 shares in the company, valued at approximately $13,256,687.85. The trade was a 9.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 226,431 shares of company stock worth $9,715,996 in the last ninety days. Company insiders own 3.00% of the company’s stock.

CNO Financial Group Stock Down 3.0%

NYSE:CNO opened at $41.77 on Friday. The business’s fifty day moving average price is $42.51 and its 200 day moving average price is $40.84. The firm has a market capitalization of $3.94 billion, a price-to-earnings ratio of 18.73 and a beta of 0.84. The company has a current ratio of 0.17, a quick ratio of 0.18 and a debt-to-equity ratio of 1.43. CNO Financial Group, Inc. has a 1-year low of $34.63 and a 1-year high of $44.85.

CNO Financial Group (NYSE:CNO) last posted its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.47 EPS for the quarter, topping the consensus estimate of $1.20 by $0.27. CNO Financial Group had a net margin of 4.94% and a return on equity of 15.80%. The business had revenue of $101.10 million during the quarter, compared to analysts’ expectations of $1 billion. During the same period last year, the company posted $1.18 earnings per share. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, sell-side analysts forecast that CNO Financial Group, Inc. will post 3.83 earnings per share for the current fiscal year.

CNO Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Tuesday, March 10th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Tuesday, March 10th. CNO Financial Group’s dividend payout ratio (DPR) is currently 30.49%.

CNO Financial Group Company Profile

CNO Financial Group is an Indiana‐based holding company that offers a range of insurance and retirement solutions through its operating subsidiaries. Its primary business activities include life insurance, annuities, and supplemental health insurance products designed to help individuals plan for retirement and manage health‐related expenses. The company serves middle‐income Americans, with particular emphasis on senior customers seeking guaranteed coverage and reliable income streams.

Originally founded as Conseco in 1979, the company underwent a financial restructuring and rebranded as CNO Financial Group in 2010.