Comerica Bank Acquires 11,924 Shares of CNO Financial Group, Inc. $CNO

Comerica Bank grew its holdings in shares of CNO Financial Group, Inc. (NYSE:CNOFree Report) by 21.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 67,453 shares of the financial services provider’s stock after buying an additional 11,924 shares during the quarter. Comerica Bank’s holdings in CNO Financial Group were worth $2,865,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CNO. Optiver Holding B.V. increased its holdings in CNO Financial Group by 90.1% during the 3rd quarter. Optiver Holding B.V. now owns 637 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 302 shares during the period. Smartleaf Asset Management LLC increased its holdings in CNO Financial Group by 353.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 743 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 579 shares during the period. First Horizon Corp purchased a new position in CNO Financial Group during the 3rd quarter worth $32,000. Richardson Financial Services Inc. purchased a new position in CNO Financial Group during the 4th quarter worth $37,000. Finally, EverSource Wealth Advisors LLC increased its holdings in CNO Financial Group by 123.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,176 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 649 shares during the period. Institutional investors own 95.43% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Gary C. Bhojwani sold 43,021 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $43.05, for a total transaction of $1,852,054.05. Following the completion of the sale, the chief executive officer owned 277,526 shares in the company, valued at approximately $11,947,494.30. This represents a 13.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Scott L. Goldberg sold 11,060 shares of the stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $39.97, for a total value of $442,068.20. Following the sale, the insider owned 214,524 shares of the company’s stock, valued at approximately $8,574,524.28. This represents a 4.90% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 196,778 shares of company stock worth $8,442,863. 3.44% of the stock is currently owned by company insiders.

CNO Financial Group Stock Up 2.3%

Shares of NYSE CNO opened at $45.64 on Tuesday. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 1.61. The stock has a market capitalization of $4.28 billion, a PE ratio of 18.33 and a beta of 0.82. The stock’s fifty day simple moving average is $41.91 and its two-hundred day simple moving average is $41.67. CNO Financial Group, Inc. has a 12-month low of $35.24 and a 12-month high of $45.68.

CNO Financial Group (NYSE:CNOGet Free Report) last issued its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.47 EPS for the quarter, beating the consensus estimate of $1.20 by $0.27. CNO Financial Group had a return on equity of 17.65% and a net margin of 5.44%.The firm had revenue of $101.10 million during the quarter, compared to analyst estimates of $1 billion. During the same quarter in the prior year, the business posted $1.18 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, analysts expect that CNO Financial Group, Inc. will post 4.36 EPS for the current fiscal year.

CNO Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Tuesday, March 10th. CNO Financial Group’s dividend payout ratio is currently 27.31%.

Analyst Upgrades and Downgrades

CNO has been the topic of several research reports. Keefe, Bruyette & Woods restated a “hold” rating and set a $46.00 price objective on shares of CNO Financial Group in a report on Thursday, March 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of CNO Financial Group in a research report on Monday, April 20th. Wall Street Zen cut CNO Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Finally, Evercore reaffirmed an “underperform” rating and set a $43.00 target price on shares of CNO Financial Group in a research report on Wednesday, February 18th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, CNO Financial Group presently has an average rating of “Hold” and a consensus target price of $46.50.

Read Our Latest Research Report on CNO Financial Group

CNO Financial Group Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for CNO Financial Group (NYSE:CNO)

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