Tower Research Capital LLC TRC Lowers Holdings in CNO Financial Group, Inc. (NYSE:CNO)

Tower Research Capital LLC TRC decreased its holdings in CNO Financial Group, Inc. (NYSE:CNO) by 4.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,491 shares of the financial services provider’s stock after selling 398 shares during the quarter. Tower Research Capital LLC TRC’s holdings in CNO Financial Group were worth $316,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of CNO. Norges Bank purchased a new position in CNO Financial Group in the 4th quarter worth about $13,975,000. JPMorgan Chase & Co. raised its position in CNO Financial Group by 41.3% in the 4th quarter. JPMorgan Chase & Co. now owns 1,274,370 shares of the financial services provider’s stock worth $47,419,000 after buying an additional 372,701 shares during the last quarter. American Century Companies Inc. raised its position in CNO Financial Group by 11.7% in the 4th quarter. American Century Companies Inc. now owns 2,687,861 shares of the financial services provider’s stock worth $100,015,000 after buying an additional 282,611 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in CNO Financial Group by 37.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 671,636 shares of the financial services provider’s stock worth $24,945,000 after buying an additional 181,711 shares during the last quarter. Finally, Invesco Ltd. raised its position in CNO Financial Group by 21.6% in the 4th quarter. Invesco Ltd. now owns 899,226 shares of the financial services provider’s stock worth $33,460,000 after buying an additional 159,603 shares during the last quarter. Hedge funds and other institutional investors own 95.43% of the company’s stock.

Insiders Place Their Bets

In other CNO Financial Group news, General Counsel Matthew J. Zimpfer sold 40,800 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $40.10, for a total value of $1,636,080.00. Following the completion of the transaction, the general counsel now directly owns 204,143 shares in the company, valued at $8,186,134.30. This represents a 16.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jeremy David Williams sold 3,393 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $41.77, for a total value of $141,725.61. Following the completion of the transaction, the insider now owns 56,599 shares of the company’s stock, valued at $2,364,140.23. The trade was a 5.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 159,512 shares of company stock worth $6,497,710 in the last three months. 3.38% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CNO. Piper Sandler boosted their price target on CNO Financial Group from $46.00 to $49.00 and gave the company an “overweight” rating in a research note on Wednesday, April 2nd. BMO Capital Markets began coverage on CNO Financial Group in a research note on Thursday, January 23rd. They set a “market perform” rating and a $38.00 price target for the company. Keefe, Bruyette & Woods boosted their price target on CNO Financial Group from $42.00 to $44.00 and gave the company a “market perform” rating in a research note on Wednesday, February 12th. Finally, Royal Bank of Canada boosted their price target on CNO Financial Group from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $41.00.

CNO Financial Group Trading Down 2.3 %

Shares of NYSE:CNO opened at $37.07 on Friday. The stock has a 50 day moving average of $39.58 and a 200 day moving average of $38.75. The company has a market cap of $3.72 billion, a PE ratio of 9.91 and a beta of 0.90. The company has a current ratio of 0.22, a quick ratio of 0.19 and a debt-to-equity ratio of 1.61. CNO Financial Group, Inc. has a 12-month low of $26.36 and a 12-month high of $43.20.

CNO Financial Group (NYSE:CNO) last announced its quarterly earnings data on Monday, April 28th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.79. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $975.80 million. CNO Financial Group had a return on equity of 17.20% and a net margin of 9.08%. The firm’s revenue was down 13.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 EPS. As a group, equities research analysts expect that CNO Financial Group, Inc. will post 3.83 EPS for the current year.

CNO Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.73%. CNO Financial Group’s dividend payout ratio (DPR) is presently 22.38%.

CNO Financial Group Profile

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.