Hsbc Holdings PLC Increases Stock Holdings in CNO Financial Group, Inc. $CNO

Hsbc Holdings PLC grew its holdings in shares of CNO Financial Group, Inc. (NYSE:CNO) by 60.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,023 shares of the financial services provider’s stock after purchasing an additional 26,998 shares during the period. Hsbc Holdings PLC owned about 0.08% of CNO Financial Group worth $2,944,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CNO. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in CNO Financial Group during the 4th quarter worth approximately $18,297,000. Jain Global LLC acquired a new stake in shares of CNO Financial Group in the fourth quarter valued at $17,996,000. Millennium Management LLC boosted its holdings in CNO Financial Group by 190.3% in the third quarter. Millennium Management LLC now owns 579,656 shares of the financial services provider’s stock valued at $22,925,000 after purchasing an additional 379,984 shares during the period. AQR Capital Management LLC increased its holdings in CNO Financial Group by 35.6% during the 4th quarter. AQR Capital Management LLC now owns 1,218,033 shares of the financial services provider’s stock worth $51,730,000 after purchasing an additional 319,795 shares during the period. Finally, Morgan Stanley raised its position in CNO Financial Group by 20.5% in the 4th quarter. Morgan Stanley now owns 1,870,982 shares of the financial services provider’s stock valued at $79,461,000 after purchasing an additional 317,690 shares in the last quarter. Institutional investors and hedge funds own 95.43% of the company’s stock.

Insider Activity at CNO Financial Group

In other CNO Financial Group news, CMO Rocco F. Tarasi III sold 5,750 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were 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 owned 79,191 shares in the company, valued at approximately $3,959,550. This represents a 6.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 CNO Financial Group stock in a transaction dated 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 sale, the chief executive officer directly owned 174,264 shares in the company, valued at approximately $8,971,110.72. The trade was 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. Insiders sold a total of 95,106 shares of company stock worth $4,879,343 over the last quarter. Company insiders own 3.44% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on CNO shares. Weiss Ratings restated a “buy (b)” rating on shares of CNO Financial Group in a research note on Friday, July 17th. Keefe, Bruyette & Woods raised 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 report on Monday, July 13th. Wall Street Zen downgraded shares of CNO Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Jefferies Financial Group cut CNO Financial Group from a “buy” rating to a “hold” rating and raised their price target for the company from $53.00 to $55.00 in a research note on Friday, July 10th. Finally, Evercore set a $48.00 price objective on CNO Financial Group and gave the stock an “in-line” rating in a research 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $51.50.

CNO Financial Group Price Performance

Shares of NYSE:CNO opened at $53.16 on Friday. CNO Financial Group, Inc. has a one year low of $35.24 and a one year high of $54.09. The stock has a market capitalization of $4.96 billion, a price-to-earnings ratio of 21.35 and a beta of 0.81. The company has a 50-day simple moving average of $50.35 and a 200-day simple moving average of $45.24. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.17 and a current ratio of 0.17.

CNO Financial Group Increases Dividend

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

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.