Putnam Investments LLC trimmed its position in shares of CNO Financial Group, Inc. (NYSE:CNO – Get Rating) by 1.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,530 shares of the financial services provider’s stock after selling 1,828 shares during the quarter. Putnam Investments LLC owned 0.09% of CNO Financial Group worth $1,807,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Lazard Asset Management LLC bought a new position in CNO Financial Group in the 3rd quarter worth $30,000. Quantbot Technologies LP grew its position in CNO Financial Group by 2.8% in the third quarter. Quantbot Technologies LP now owns 36,120 shares of the financial services provider’s stock worth $649,000 after acquiring an additional 968 shares in the last quarter. AlphaCrest Capital Management LLC lifted its stake in CNO Financial Group by 4.4% in the second quarter. AlphaCrest Capital Management LLC now owns 96,468 shares of the financial services provider’s stock worth $1,745,000 after purchasing an additional 4,071 shares during the last quarter. Bailard Inc. bought a new stake in CNO Financial Group in the third quarter worth about $329,000. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of CNO Financial Group by 2.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,987,917 shares of the financial services provider’s stock valued at $35,723,000 after acquiring an additional 41,404 shares in the last quarter. 96.15% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on CNO shares. Jefferies Financial Group lifted their price target on shares of CNO Financial Group from $23.00 to $25.00 and gave the company a “hold” rating in a research note on Tuesday, February 21st. Piper Sandler reaffirmed a “neutral” rating and issued a $23.00 price target on shares of CNO Financial Group in a report on Wednesday, February 8th. Morgan Stanley boosted their price objective on shares of CNO Financial Group from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Friday, February 24th. Finally, Royal Bank of Canada boosted their target price on shares of CNO Financial Group from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Thursday, February 9th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $25.50.
CNO Financial Group Stock Down 3.7 %
CNO Financial Group (NYSE:CNO – Get Rating) last announced its quarterly earnings data on Tuesday, February 7th. The financial services provider reported $0.56 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.56. The business had revenue of $973.60 million for the quarter, compared to analyst estimates of $910.10 million. CNO Financial Group had a net margin of 11.09% and a return on equity of 12.74%. The company’s revenue was down 9.4% on a year-over-year basis. During the same period last year, the business earned $0.87 EPS. As a group, sell-side analysts predict that CNO Financial Group, Inc. will post 2.69 EPS for the current fiscal year.
CNO Financial Group Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, March 24th. Stockholders of record on Friday, March 10th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.46%. The ex-dividend date is Thursday, March 9th. CNO Financial Group’s payout ratio is 16.62%.
Insider Activity at CNO Financial Group
In other CNO Financial Group news, EVP Matthew J. Zimpfer sold 3,308 shares of CNO Financial Group stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $25.85, for a total transaction of $85,511.80. Following the completion of the transaction, the executive vice president now owns 258,163 shares in the company, valued at $6,673,513.55. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Scott L. Goldberg sold 17,095 shares of the business’s stock in a transaction on Friday, February 10th. The shares were sold at an average price of $25.34, for a total transaction of $433,187.30. Following the transaction, the insider now directly owns 120,210 shares of the company’s stock, valued at $3,046,121.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Matthew J. Zimpfer sold 3,308 shares of the stock in a transaction on Monday, March 6th. The stock was sold at an average price of $25.85, for a total transaction of $85,511.80. Following the sale, the executive vice president now directly owns 258,163 shares in the company, valued at $6,673,513.55. The disclosure for this sale can be found here. Insiders sold 24,591 shares of company stock worth $627,713 over the last 90 days. Company insiders own 2.70% of the company’s stock.
About CNO Financial Group
CNO Financial Group, Inc is an insurance holding company, which engages in developing, marketing, and administering health insurance, annuity, individual life insurance and other insurance products. It operates through the following segments: Bankers Life, Washington National, and Colonial Penn. The Bankers Life segment markets and distributes medicare supplement insurance, interest-sensitive life insurance, traditional life insurance, fixed annuities and long-term care insurance products to the middle-income senior market through a dedicated field force of career agents and sales managers supported by a network of community-based sales offices.
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