Healthcare of Ontario Pension Plan Trust Fund Sells 96,997 Shares of CNO Financial Group, Inc. $CNO

Healthcare of Ontario Pension Plan Trust Fund decreased its stake in CNO Financial Group, Inc. (NYSE:CNO) by 22.5% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 333,823 shares of the financial services provider’s stock after selling 96,997 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in CNO Financial Group were worth $13,707,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CNO. Jain Global LLC acquired a new position in shares of CNO Financial Group during the 4th quarter worth about $17,996,000. Millennium Management LLC raised its position 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 valued at $22,925,000 after acquiring an additional 379,984 shares during the period. AQR Capital Management LLC raised its position 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 valued at $51,730,000 after acquiring an additional 319,795 shares during the period. Morgan Stanley boosted its stake in CNO Financial Group by 20.5% during the 4th quarter. Morgan Stanley now owns 1,870,982 shares of the financial services provider’s stock worth $79,461,000 after acquiring an additional 317,690 shares during the last quarter. Finally, Hudson Bay Capital Management LP bought a new position in CNO Financial Group during the 2nd quarter worth approximately $10,651,000. Institutional investors own 95.43% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CNO. Weiss Ratings restated a “buy (b)” rating on shares of CNO Financial Group in a report on Friday, July 17th. Jefferies Financial Group cut shares of CNO Financial Group from a “buy” rating to a “hold” rating and lifted their price target for the stock from $53.00 to $55.00 in a research report on Friday, July 10th. Evercore set a $48.00 price target on shares of CNO Financial Group and gave the company an “in-line” rating in a report on Monday, June 1st. Finally, Keefe, Bruyette & Woods upped their price objective on shares of 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 analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $51.50.

CNO Financial Group Trading Down 0.2%

NYSE:CNO opened at $53.12 on Tuesday. 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 business’s 50-day simple moving average is $50.45 and its 200-day simple moving average is $45.33. CNO Financial Group, Inc. has a fifty-two week low of $35.24 and a fifty-two week high of $54.09. The stock has a market capitalization of $4.96 billion, a PE ratio of 21.33 and a beta of 0.81.

CNO Financial Group Increases Dividend

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

Insider Buying and Selling

In other CNO Financial Group news, CMO Rocco F. Tarasi III sold 5,750 shares of CNO Financial Group stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $50.00, for a total value of $287,500.00. Following the transaction, the chief marketing officer owned 79,191 shares of the company’s stock, valued at approximately $3,959,550. The trade was a 6.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gary C. Bhojwani sold 86,048 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $51.48, for a total transaction of $4,429,751.04. Following the completion of the transaction, the chief executive officer owned 174,264 shares of the company’s stock, valued at $8,971,110.72. This trade 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 worth $4,879,343. Insiders own 3.44% of the company’s stock.

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.