LSV Asset Management Sells 353,200 Shares of CNO Financial Group, Inc. $CNO

LSV Asset Management trimmed its holdings in shares of CNO Financial Group, Inc. (NYSE:CNO) by 10.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,149,649 shares of the financial services provider’s stock after selling 353,200 shares during the period. LSV Asset Management owned about 3.25% of CNO Financial Group worth $124,569,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Caprock Group LLC bought a new stake in shares of CNO Financial Group in the 3rd quarter valued at about $257,000. Bryce Point Capital LLC increased its stake in CNO Financial Group by 20.1% in the 3rd quarter. Bryce Point Capital LLC now owns 11,884 shares of the financial services provider’s stock worth $470,000 after purchasing an additional 1,987 shares during the period. Smartleaf Asset Management LLC lifted its position in CNO Financial Group by 353.0% in the third quarter. Smartleaf Asset Management LLC now owns 743 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 579 shares during the last quarter. Everhart Financial Group Inc. boosted its stake in shares of CNO Financial Group by 5.1% during the third quarter. Everhart Financial Group Inc. now owns 21,092 shares of the financial services provider’s stock valued at $834,000 after purchasing an additional 1,032 shares during the period. Finally, AlphaQuest LLC purchased a new stake in shares of CNO Financial Group during the third quarter valued at approximately $3,057,000. Hedge funds and other institutional investors own 95.43% of the company’s stock.

Wall Street Analysts Forecast Growth

CNO has been the topic of several analyst reports. Jefferies Financial Group raised shares of CNO Financial Group from a “hold” rating to a “buy” rating and lifted their target price for the stock from $42.00 to $47.00 in a research note on Monday, December 15th. Weiss Ratings restated a “buy (b)” rating on shares of CNO Financial Group in a research report on Wednesday, January 21st. Piper Sandler upped their price objective on shares of CNO Financial Group from $46.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, December 23rd. Finally, Wall Street Zen cut CNO Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.33.

CNO Financial Group Stock Up 0.2%

Shares of NYSE CNO opened at $43.18 on Friday. The company has a current ratio of 0.17, a quick ratio of 0.18 and a debt-to-equity ratio of 1.43. CNO Financial Group, Inc. has a 12 month low of $34.63 and a 12 month high of $44.85. The firm has a market capitalization of $4.12 billion, a PE ratio of 19.36 and a beta of 0.84. The firm has a fifty day simple moving average of $42.32 and a two-hundred day simple moving average of $40.38.

CNO Financial Group (NYSE:CNO) last announced its earnings results on Thursday, February 5th. The financial services provider reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.27. CNO Financial Group had a net margin of 4.94% and a return on equity of 15.80%. The firm had revenue of $101.10 million for the quarter, compared to analyst estimates of $1 billion. During the same quarter in the previous year, the firm posted $1.18 EPS. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. Equities analysts expect that CNO Financial Group, Inc. will post 3.83 earnings per share for the current year.

CNO Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th will be issued a dividend of $0.17 per share. The ex-dividend date is Tuesday, March 10th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.6%. CNO Financial Group’s dividend payout ratio is 30.49%.

Insiders Place Their Bets

In other news, CEO Gary C. Bhojwani sold 31,430 shares of the stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $41.99, for a total value of $1,319,745.70. Following the completion of the transaction, the chief executive officer owned 195,926 shares of the company’s stock, valued at approximately $8,226,932.74. This represents a 13.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Rocco F. Tarasi III sold 9,283 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $42.60, for a total value of $395,455.80. Following the completion of the transaction, the chief marketing officer owned 73,932 shares of the company’s stock, valued at approximately $3,149,503.20. The trade was a 11.16% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 71,683 shares of company stock worth $3,044,744. Company insiders own 3.00% of the company’s stock.

CNO Financial Group Profile

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.