Hsbc Holdings PLC Raises Stake in CNO Financial Group, Inc. $CNO

Hsbc Holdings PLC increased its holdings in CNO Financial Group, Inc. (NYSE:CNO) by 102.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 45,025 shares of the financial services provider’s stock after buying an additional 22,749 shares during the period. Hsbc Holdings PLC’s holdings in CNO Financial Group were worth $1,914,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rockefeller Capital Management L.P. increased its stake in shares of CNO Financial Group by 60.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 3,248 shares of the financial services provider’s stock worth $138,000 after acquiring an additional 1,224 shares during the period. Corient Private Wealth LLC boosted its holdings in CNO Financial Group by 2.6% in the fourth quarter. Corient Private Wealth LLC now owns 19,683 shares of the financial services provider’s stock valued at $836,000 after purchasing an additional 498 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in CNO Financial Group by 684.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,881 shares of the financial services provider’s stock worth $165,000 after purchasing an additional 3,386 shares during the period. DGS Capital Management LLC grew its position in CNO Financial Group by 16.8% during the 4th quarter. DGS Capital Management LLC now owns 17,017 shares of the financial services provider’s stock worth $723,000 after purchasing an additional 2,450 shares during the period. Finally, Invesco Ltd. raised its stake in shares of CNO Financial Group by 3.3% during the 4th quarter. Invesco Ltd. now owns 494,741 shares of the financial services provider’s stock valued at $21,012,000 after buying an additional 15,864 shares during the last quarter. 95.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at CNO Financial Group

In other news, CMO Rocco F. Tarasi III sold 5,750 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $50.00, for a total transaction of $287,500.00. Following the completion of the transaction, the chief marketing officer directly owned 79,191 shares of the company’s stock, valued at $3,959,550. This represents a 6.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through 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 the stock in a transaction that occurred 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 trade represents a 33.06% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 95,106 shares of company stock valued at $4,879,343. Corporate insiders own 3.44% of the company’s stock.

CNO Financial Group Price Performance

Shares of NYSE:CNO traded down $1.07 during trading on Friday, reaching $51.86. 1,044,017 shares of the company’s stock traded hands, compared to its average volume of 836,131. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 1.61. CNO Financial Group, Inc. has a fifty-two week low of $35.24 and a fifty-two week high of $53.55. The company has a 50-day simple moving average of $48.96 and a 200-day simple moving average of $44.55. The firm has a market cap of $4.84 billion, a PE ratio of 20.83 and a beta of 0.81.

CNO Financial Group Increases Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CNO shares. Wall Street Zen cut CNO Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Jefferies Financial Group cut CNO Financial Group from a “buy” rating to a “hold” rating and lifted their price target for the company from $53.00 to $55.00 in a research report on Friday. Weiss Ratings reissued a “buy (b)” rating on shares of CNO Financial Group in a report on Monday, April 20th. Keefe, Bruyette & Woods raised their price objective on shares of CNO Financial Group from $46.00 to $50.00 and gave the stock a “market perform” rating in a research note on Tuesday, May 5th. Finally, Evercore set a $48.00 target price on shares of CNO Financial Group and gave the company an “in-line” rating in a report on Monday, June 1st. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $50.75.

About CNO Financial Group

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.