Ibex Wealth Advisors Has $980,000 Stock Position in CNO Financial Group, Inc. (NYSE:CNO)

Ibex Wealth Advisors grew its holdings in shares of CNO Financial Group, Inc. (NYSE:CNO) by 18.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,518 shares of the financial services provider’s stock after buying an additional 3,687 shares during the quarter. Ibex Wealth Advisors’ holdings in CNO Financial Group were worth $980,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CNO. Jones Financial Companies Lllp boosted its holdings in CNO Financial Group by 368.2% during the fourth quarter. Jones Financial Companies Lllp now owns 796 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 626 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in CNO Financial Group by 95.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 855 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 417 shares during the last quarter. Principal Securities Inc. boosted its holdings in CNO Financial Group by 51.6% during the fourth quarter. Principal Securities Inc. now owns 955 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 325 shares during the last quarter. UMB Bank n.a. boosted its holdings in CNO Financial Group by 89.7% during the first quarter. UMB Bank n.a. now owns 1,009 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 477 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in CNO Financial Group by 148.6% during the first quarter. Versant Capital Management Inc now owns 1,099 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 657 shares during the last quarter. 95.43% of the stock is currently owned by institutional investors and hedge funds.

CNO Financial Group Stock Performance

CNO Financial Group stock opened at $38.18 on Tuesday. The firm’s 50 day simple moving average is $38.03 and its 200 day simple moving average is $38.95. The company has a current ratio of 0.22, a quick ratio of 0.19 and a debt-to-equity ratio of 1.61. The firm has a market capitalization of $3.79 billion, a PE ratio of 10.21 and a beta of 0.89. CNO Financial Group, Inc. has a 1-year low of $26.36 and a 1-year high of $43.20.

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

CNO Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 24th. Shareholders of record on Tuesday, June 10th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Tuesday, June 10th. This is a boost from CNO Financial Group’s previous quarterly dividend of $0.16. CNO Financial Group’s payout ratio is currently 23.78%.

Wall Street Analysts Forecast Growth

Several analysts have commented on CNO shares. Royal Bank of Canada lifted their price objective on shares of CNO Financial Group from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, February 10th. Piper Sandler lifted their price objective on shares of CNO Financial Group from $46.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of CNO Financial Group from $42.00 to $44.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $41.00.

Insiders Place Their Bets

In other news, insider Yvonne K. Franzese sold 2,097 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $42.56, for a total value of $89,248.32. Following the completion of the sale, the insider now directly owns 30,321 shares of the company’s stock, valued at approximately $1,290,461.76. This trade represents a 6.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jeremy David Williams sold 3,393 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $41.77, for a total transaction of $141,725.61. Following the completion of the transaction, the insider now owns 56,599 shares of the company’s stock, valued at approximately $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 a total of 26,912 shares of company stock valued at $1,125,523 in the last quarter. Corporate insiders own 3.00% of the company’s stock.

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.