FourThought Financial Partners LLC Invests $255,000 in CNO Financial Group, Inc. (NYSE:CNO)

FourThought Financial Partners LLC acquired a new stake in shares of CNO Financial Group, Inc. (NYSE:CNO) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 6,111 shares of the financial services provider’s stock, valued at approximately $255,000.

A number of other hedge funds also recently bought and sold shares of CNO. Raymond James Financial Inc. purchased a new stake in shares of CNO Financial Group in the fourth quarter valued at approximately $2,295,000. HighTower Advisors LLC boosted its stake in CNO Financial Group by 5.3% during the fourth quarter. HighTower Advisors LLC now owns 7,873 shares of the financial services provider’s stock worth $293,000 after buying an additional 394 shares during the last quarter. Corient Private Wealth LLC grew its holdings in CNO Financial Group by 2.6% in the 4th quarter. Corient Private Wealth LLC now owns 15,634 shares of the financial services provider’s stock valued at $582,000 after buying an additional 400 shares in the last quarter. Sei Investments Co. grew its holdings in CNO Financial Group by 22.5% in the 4th quarter. Sei Investments Co. now owns 168,252 shares of the financial services provider’s stock valued at $6,261,000 after buying an additional 30,916 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of CNO Financial Group in the 4th quarter worth $822,000. Institutional investors and hedge funds own 95.43% of the company’s stock.

Analysts Set New Price Targets

Separately, Piper Sandler boosted their price target on shares of CNO Financial Group from $46.00 to $49.00 and gave the company an “overweight” rating in a research report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $41.00.

CNO Financial Group Trading Up 1.1%

Shares of CNO Financial Group stock opened at $37.77 on Friday. The stock has a 50 day moving average of $37.64 and a 200 day moving average of $38.81. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.18 and a current ratio of 0.18. The firm has a market capitalization of $3.74 billion, a price-to-earnings ratio of 13.21 and a beta of 0.87. CNO Financial Group, Inc. has a fifty-two week low of $30.48 and a fifty-two week high of $43.20.

CNO Financial Group (NYSE:CNO) last released its quarterly 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 during the quarter, compared to analysts’ expectations of $975.80 million. CNO Financial Group had a return on equity of 17.86% and a net margin of 7.11%. The company’s revenue was down 13.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.52 EPS. As a group, research analysts predict that CNO Financial Group, Inc. will post 3.83 earnings per share for the current year.

CNO Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 24th. Shareholders of record on Tuesday, June 10th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, June 10th. This is a boost from CNO Financial Group’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.80%. CNO Financial Group’s dividend payout ratio (DPR) is currently 23.78%.

Insider Activity

In other news, insider Michael E. Mead sold 12,581 shares of the company’s stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $37.97, for a total value of $477,700.57. Following the transaction, the insider directly owned 15,729 shares in the company, valued at approximately $597,230.13. This represents a 44.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 3.00% of the company’s stock.

About CNO Financial Group

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.