ProShare Advisors LLC Takes $8.46 Million Position in CNO Financial Group, Inc. (NYSE:CNO)

Posted by Defense World Staff on Sep 17th, 2023

ProShare Advisors LLC acquired a new stake in shares of CNO Financial Group, Inc. (NYSE:CNO – Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 381,080 shares of the financial services provider’s stock, valued at approximately $8,456,000. ProShare Advisors LLC owned about 0.33% of CNO Financial Group at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CNO. Quarry LP purchased a new position in CNO Financial Group during the 1st quarter valued at $26,000. Financial Management Professionals Inc. purchased a new position in shares of CNO Financial Group during the first quarter valued at about $28,000. Quadrant Capital Group LLC raised its stake in CNO Financial Group by 133.9% in the fourth quarter. Quadrant Capital Group LLC now owns 1,813 shares of the financial services provider’s stock worth $41,000 after buying an additional 1,038 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in CNO Financial Group in the first quarter worth about $49,000. Finally, Assetmark Inc. boosted its position in CNO Financial Group by 42.1% during the 1st quarter. Assetmark Inc. now owns 2,645 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 783 shares in the last quarter. Institutional investors own 94.28% of the company’s stock.

CNO Financial Group Trading Down 0.1 %

Shares of NYSE CNO opened at $23.86 on Friday. The firm has a 50-day moving average of $24.11 and a 200 day moving average of $23.04. The stock has a market cap of $2.70 billion, a P/E ratio of 12.49 and a beta of 1.15. CNO Financial Group, Inc. has a 1 year low of $17.48 and a 1 year high of $26.35. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.19 and a quick ratio of 0.19.

CNO Financial Group (NYSE:CNO – Get Free Report) last announced its quarterly earnings data on Monday, July 31st. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.15). The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $915.17 million. CNO Financial Group had a net margin of 5.66% and a return on equity of 14.49%. As a group, sell-side analysts expect that CNO Financial Group, Inc. will post 2.64 EPS for the current fiscal year.

CNO Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.60 annualized dividend and a yield of 2.51%. CNO Financial Group’s dividend payout ratio (DPR) is presently 31.41%.

Insiders Place Their Bets

In other CNO Financial Group news, CMO Rocco F. Tarasi III sold 2,000 shares of CNO Financial Group stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $22.84, for a total value of $45,680.00. Following the completion of the transaction, the chief marketing officer now directly owns 77,468 shares of the company’s stock, valued at $1,769,369.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CMO Rocco F. Tarasi III sold 2,000 shares of the business’s stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $22.84, for a total value of $45,680.00. Following the completion of the transaction, the chief marketing officer now owns 77,468 shares in the company, valued at $1,769,369.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gary C. Bhojwani sold 21,739 shares of the business’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $23.00, for a total value of $499,997.00. Following the completion of the transaction, the chief executive officer now owns 232,433 shares of the company’s stock, valued at approximately $5,345,959. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,239 shares of company stock valued at $583,552. Insiders own 3.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Raymond James initiated coverage on CNO Financial Group in a research report on Thursday, June 29th. They issued a “market perform” rating for the company. Royal Bank of Canada lowered their target price on CNO Financial Group from $30.00 to $29.00 and set an “outperform” rating for the company in a research note on Wednesday, August 2nd. Jefferies Financial Group raised their target price on CNO Financial Group from $23.00 to $24.00 and gave the company a “hold” rating in a research note on Thursday. Finally, StockNews.com began coverage on CNO Financial Group in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $25.25.

Get Our Latest Analysis on CNO Financial Group

About CNO Financial Group

(Free Report)

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.