LSV Asset Management Sells 353,200 Shares of CNO Financial Group, Inc. $CNO

LSV Asset Management lowered its holdings in shares of CNO Financial Group, Inc. (NYSE:CNO) by 10.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,149,649 shares of the financial services provider’s stock after selling 353,200 shares during the period. LSV Asset Management’s holdings in CNO Financial Group were worth $124,569,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Smartleaf Asset Management LLC increased its stake in shares of CNO Financial Group by 353.0% during the third quarter. Smartleaf Asset Management LLC now owns 743 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 579 shares in the last quarter. Turning Point Benefit Group Inc. purchased a new stake in shares of CNO Financial Group in the 2nd quarter worth approximately $32,000. First Horizon Corp bought a new position in CNO Financial Group during the 3rd quarter valued at approximately $32,000. EverSource Wealth Advisors LLC raised its stake in CNO Financial Group by 123.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,176 shares of the financial services provider’s stock valued at $45,000 after buying an additional 649 shares during the last quarter. Finally, Osaic Holdings Inc. raised its stake in CNO Financial Group by 39.2% during the second quarter. Osaic Holdings Inc. now owns 1,194 shares of the financial services provider’s stock valued at $46,000 after buying an additional 336 shares during the last quarter. Hedge funds and other institutional investors own 95.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CNO shares. Piper Sandler increased their target price on CNO Financial Group from $46.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 23rd. Wall Street Zen downgraded shares of CNO Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Jefferies Financial Group upgraded shares of CNO Financial Group from a “hold” rating to a “buy” rating and raised their price objective for the company from $42.00 to $47.00 in a research note on Monday, December 15th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of CNO Financial Group in a research note on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $47.33.

Insider Buying and Selling

In other news, CEO Gary C. Bhojwani sold 31,430 shares of the stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $41.99, for a total transaction of $1,319,745.70. Following the transaction, the chief executive officer directly owned 195,926 shares of the company’s stock, valued at $8,226,932.74. This represents a 13.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Matthew J. Zimpfer sold 30,970 shares of CNO Financial Group stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $42.93, for a total value of $1,329,542.10. Following the completion of the sale, the general counsel directly owned 307,937 shares of the company’s stock, valued at $13,219,735.41. The trade was a 9.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 71,683 shares of company stock worth $3,044,744. 3.00% of the stock is owned by insiders.

CNO Financial Group Price Performance

NYSE CNO opened at $43.18 on Friday. CNO Financial Group, Inc. has a one year low of $34.63 and a one year high of $44.85. The stock has a 50-day moving average of $42.32 and a 200 day moving average of $40.38. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.18 and a current ratio of 0.17. The company has a market capitalization of $4.12 billion, a price-to-earnings ratio of 19.36 and a beta of 0.84.

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

CNO Financial Group Announces Dividend

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