State of Wyoming Buys New Position in CNO Financial Group, Inc. $CNO

State of Wyoming bought a new position in shares of CNO Financial Group, Inc. (NYSE:CNO) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 10,608 shares of the financial services provider’s stock, valued at approximately $436,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in CNO Financial Group in the 4th quarter valued at about $18,297,000. Jain Global LLC acquired a new position in shares of CNO Financial Group in the 4th quarter worth approximately $17,996,000. Millennium Management LLC grew its stake in shares of CNO Financial Group by 190.3% in the 3rd quarter. Millennium Management LLC now owns 579,656 shares of the financial services provider’s stock worth $22,925,000 after purchasing an additional 379,984 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of 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 in the last quarter. Finally, Morgan Stanley lifted its stake in CNO Financial Group by 20.5% during the fourth quarter. Morgan Stanley now owns 1,870,982 shares of the financial services provider’s stock valued at $79,461,000 after purchasing an additional 317,690 shares during the last quarter. 95.43% of the stock is currently owned by institutional investors.

CNO Financial Group Stock Up 1.1%

CNO stock opened at $53.16 on Friday. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.17 and a quick ratio of 0.17. The firm has a market capitalization of $4.96 billion, a P/E ratio of 21.35 and a beta of 0.81. CNO Financial Group, Inc. has a 52-week low of $35.24 and a 52-week high of $54.09. The company’s 50 day simple moving average is $50.35 and its 200-day simple moving average is $45.24.

CNO Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 10th were issued a $0.18 dividend. The ex-dividend date was Wednesday, June 10th. This is an increase from CNO Financial Group’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.4%. CNO Financial Group’s dividend payout ratio is currently 28.92%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CNO shares. Wall Street Zen cut shares of CNO Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Jefferies Financial Group downgraded CNO Financial Group from a “buy” rating to a “hold” rating and increased their price objective for the company from $53.00 to $55.00 in a research report on Friday, July 10th. Evercore set a $48.00 price objective on CNO Financial Group and gave the stock an “in-line” rating in a research note on Monday, June 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of CNO Financial Group in a report on Friday, July 17th. Finally, Keefe, Bruyette & Woods increased their price target on CNO Financial Group from $50.00 to $53.00 and gave the company a “market perform” rating in a research report on Monday, July 13th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $51.50.

Insider Buying and Selling at CNO Financial Group

In other news, CMO Rocco F. Tarasi III sold 5,750 shares of the firm’s 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 completion of the sale, the chief marketing officer owned 79,191 shares of the company’s stock, valued at $3,959,550. This trade represents a 6.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gary C. Bhojwani sold 86,048 shares of CNO Financial Group stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $51.48, for a total value of $4,429,751.04. Following 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 95,106 shares of company stock valued at $4,879,343. 3.44% of the stock is currently owned by insiders.

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.