Peregrine Capital Management LLC Sells 10,660 Shares of CNO Financial Group, Inc. $CNO

Peregrine Capital Management LLC lessened its stake in CNO Financial Group, Inc. (NYSE:CNO) by 8.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 110,459 shares of the financial services provider’s stock after selling 10,660 shares during the quarter. Peregrine Capital Management LLC owned about 0.12% of CNO Financial Group worth $4,535,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Franklin Resources Inc. lifted its position in shares of CNO Financial Group by 1.0% during the third quarter. Franklin Resources Inc. now owns 4,302,316 shares of the financial services provider’s stock worth $170,157,000 after purchasing an additional 42,467 shares in the last quarter. Morgan Stanley raised its position in CNO Financial Group by 20.5% in the 4th quarter. Morgan Stanley now owns 1,870,982 shares of the financial services provider’s stock worth $79,461,000 after purchasing an additional 317,690 shares during the last quarter. AQR Capital Management LLC raised its position in CNO Financial Group by 35.6% in the 4th quarter. AQR Capital Management LLC now owns 1,218,033 shares of the financial services provider’s stock worth $51,730,000 after purchasing an additional 319,795 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in CNO Financial Group by 11.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 882,512 shares of the financial services provider’s stock worth $34,903,000 after buying an additional 91,417 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its holdings in CNO Financial Group by 32.6% during the 2nd quarter. Balyasny Asset Management L.P. now owns 764,867 shares of the financial services provider’s stock worth $29,509,000 after buying an additional 187,974 shares in the last quarter. 95.43% of the stock is owned by institutional investors.

CNO Financial Group Trading Up 2.2%

CNO opened at $52.08 on Thursday. The firm has a 50 day simple moving average of $47.77 and a 200 day simple moving average of $44.09. CNO Financial Group, Inc. has a fifty-two week low of $35.24 and a fifty-two week high of $53.03. The company has a market cap of $4.86 billion, a price-to-earnings ratio of 20.91 and a beta of 0.81. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.17 and a quick ratio of 0.17.

CNO Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 10th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Wednesday, June 10th. This is a positive change from CNO Financial Group’s previous quarterly dividend of $0.17. CNO Financial Group’s dividend payout ratio is presently 28.92%.

Insiders Place Their Bets

In other news, CMO Rocco F. Tarasi III sold 5,750 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $50.00, for a total value of $287,500.00. Following the transaction, the chief marketing officer owned 79,191 shares of the company’s stock, valued at $3,959,550. This represents a 6.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gary C. Bhojwani sold 86,048 shares of the firm’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $51.48, for a total value of $4,429,751.04. Following the completion of the transaction, the chief executive officer owned 174,264 shares in the company, valued at $8,971,110.72. This represents a 33.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 95,106 shares of company stock worth $4,879,343. 3.44% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CNO has been the subject of several research reports. Weiss Ratings reissued a “buy (b)” rating on shares of CNO Financial Group in a research note on Monday, April 20th. Wall Street Zen lowered CNO Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Evercore set a $48.00 price target on CNO Financial Group and gave the company an “in-line” rating in a research note on Monday, June 1st. Finally, Keefe, Bruyette & Woods raised their price target on CNO Financial Group from $46.00 to $50.00 and gave the company a “market perform” rating in a report on Tuesday, May 5th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.75.

About CNO Financial Group

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.