Hsbc Holdings PLC Buys New Holdings in CNO Financial Group, Inc. $CNO

Hsbc Holdings PLC purchased a new position in CNO Financial Group, Inc. (NYSE:CNO) in the second quarter, Holdings Channel reports. The fund purchased 61,597 shares of the financial services provider’s stock, valued at approximately $3,169,000.

Other large investors also recently modified their holdings of the company. Versant Capital Management Inc raised its holdings in shares of CNO Financial Group by 72.0% in the 2nd quarter. Versant Capital Management Inc now owns 1,132 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 474 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of CNO Financial Group by 75.4% during the first quarter. Bessemer Group Inc. now owns 1,133 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 487 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in CNO Financial Group by 123.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,176 shares of the financial services provider’s stock valued at $45,000 after buying an additional 649 shares during the last quarter. Osaic Holdings Inc. increased its holdings in CNO Financial Group by 39.2% in the second quarter. Osaic Holdings Inc. now owns 1,194 shares of the financial services provider’s stock valued at $46,000 after buying an additional 336 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in CNO Financial Group by 637.4% in the first quarter. Geneos Wealth Management Inc. now owns 1,438 shares of the financial services provider’s stock valued at $60,000 after buying an additional 1,243 shares in the last quarter. 95.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Weiss Ratings raised CNO Financial Group from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, August 11th. Keefe, Bruyette & Woods increased their price objective on CNO Financial Group from $53.00 to $57.00 and gave the company a “market perform” rating in a report on Monday, August 3rd. Wall Street Zen upgraded CNO Financial Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Capital One Financial set a $70.00 target price on CNO Financial Group in a research note on Wednesday. Finally, Evercore set a $48.00 price target on 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $56.00.

CNO Financial Group Price Performance

Shares of CNO opened at $55.41 on Friday. CNO Financial Group, Inc. has a 1-year low of $38.22 and a 1-year high of $57.59. The stock has a market cap of $5.13 billion, a PE ratio of 19.04 and a beta of 0.81. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.17 and a quick ratio of 0.17. The firm has a fifty day moving average price of $53.50 and a 200 day moving average price of $47.39.

CNO Financial Group (NYSE:CNO) last issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.29. CNO Financial Group had a return on equity of 18.76% and a net margin of 6.02%.The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $999.45 million. During the same quarter last year, the company posted $0.87 earnings per share. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that CNO Financial Group, Inc. will post 4.74 EPS for the current year.

CNO Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be given a $0.18 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.3%. CNO Financial Group’s dividend payout ratio is 24.74%.

Insider Buying and Selling

In other CNO Financial Group news, CEO Gary C. Bhojwani sold 86,048 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $51.48, for a total value of $4,429,751.04. Following the completion of the sale, the chief executive officer owned 174,264 shares in the company, valued at approximately $8,971,110.72. The trade was a 33.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Rocco F. Tarasi III sold 5,750 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $50.00, for a total value of $287,500.00. Following the completion of the sale, the chief marketing officer directly owned 79,191 shares of the company’s stock, valued at $3,959,550. The trade was a 6.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 95,106 shares of company stock worth $4,879,343 in the last 90 days. 3.44% of the stock is currently owned by company insiders.

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.