Vest Financial LLC Lowers Stock Position in CNO Financial Group, Inc. $CNO

Vest Financial LLC lessened its holdings in shares of CNO Financial Group, Inc. (NYSE:CNO) by 45.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,235 shares of the financial services provider’s stock after selling 24,409 shares during the period. Vest Financial LLC’s holdings in CNO Financial Group were worth $1,156,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CNO. Royal Bank of Canada lifted its position in CNO Financial Group by 29.5% during the 1st quarter. Royal Bank of Canada now owns 176,059 shares of the financial services provider’s stock valued at $7,332,000 after acquiring an additional 40,054 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of CNO Financial Group by 1.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,757 shares of the financial services provider’s stock valued at $2,531,000 after purchasing an additional 797 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of CNO Financial Group by 5.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 376,747 shares of the financial services provider’s stock valued at $15,692,000 after purchasing an additional 20,728 shares during the last quarter. Jane Street Group LLC boosted its position in shares of CNO Financial Group by 146.4% in the 1st quarter. Jane Street Group LLC now owns 149,159 shares of the financial services provider’s stock worth $6,212,000 after purchasing an additional 88,619 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in shares of CNO Financial Group by 637.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,438 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 1,243 shares in the last quarter. 95.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Gary C. Bhojwani sold 31,430 shares of CNO Financial Group stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $41.99, for a total transaction of $1,319,745.70. Following the transaction, the chief executive officer owned 195,926 shares in the company, valued at $8,226,932.74. This trade represents a 13.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CIO Eric R. Johnson sold 48,665 shares of the company’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $41.24, for a total value of $2,006,944.60. Following the completion of the sale, the executive owned 671,542 shares of the company’s stock, valued at $27,694,392.08. This trade represents a 6.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 89,378 shares of company stock worth $3,722,146. Company insiders own 3.00% of the company’s stock.

CNO Financial Group Stock Performance

Shares of CNO opened at $40.66 on Friday. The firm has a market capitalization of $3.88 billion, a P/E ratio of 14.22 and a beta of 0.85. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.18 and a quick ratio of 0.18. CNO Financial Group, Inc. has a one year low of $34.63 and a one year high of $44.19. The business has a fifty day moving average of $41.79 and a 200 day moving average of $39.87.

CNO Financial Group (NYSE:CNO) last announced its earnings results on Monday, November 3rd. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.34. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $975.35 million. CNO Financial Group had a return on equity of 15.81% and a net margin of 6.64%.The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the firm posted $1.11 earnings per share. As a group, sell-side analysts anticipate that CNO Financial Group, Inc. will post 3.83 EPS for the current year.

CNO Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 23rd. Shareholders of record on Wednesday, December 10th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Wednesday, December 10th. CNO Financial Group’s dividend payout ratio is currently 23.78%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CNO. Piper Sandler lifted their price objective on CNO Financial Group from $46.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, December 23rd. Wall Street Zen raised CNO Financial Group from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Jefferies Financial Group raised shares of CNO Financial Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $42.00 to $47.00 in a research report on Monday, December 15th. Weiss Ratings restated a “buy (b)” rating on shares of CNO Financial Group in a research note on Wednesday. Finally, Keefe, Bruyette & Woods upped their target price on shares of CNO Financial Group from $44.00 to $45.00 and gave the stock a “market perform” rating in a research note on Thursday, October 9th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $46.75.

CNO Financial Group 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.