Corient Private Wealth LP acquired a new position in CNO Financial Group, Inc. (NYSE:CNO – Free Report) in the second quarter, Holdings Channel.com reports. The firm acquired 74,292 shares of the financial services provider’s stock, valued at approximately $2,140,000.
Several other institutional investors have also recently modified their holdings of the company. Bank of America Corp DE bought a new position in shares of CNO Financial Group during the 2nd quarter valued at about $50,034,000. Odyssean LLC bought a new stake in CNO Financial Group in the 2nd quarter worth approximately $397,000. Man Group plc bought a new stake in CNO Financial Group in the 2nd quarter worth approximately $10,419,000. Jupiter Topco LLC purchased a new stake in CNO Financial Group in the second quarter worth approximately $1,992,000. Finally, Hsbc Holdings PLC purchased a new stake in CNO Financial Group in the second quarter worth approximately $3,169,000. 95.43% of the stock is currently owned by institutional investors.
CNO Financial Group Price Performance
CNO opened at $55.33 on Thursday. The stock’s 50 day simple moving average is $53.67 and its 200 day simple moving average is $47.68. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.17 and a quick ratio of 0.17. CNO Financial Group, Inc. has a 1 year low of $38.22 and a 1 year high of $57.59. The firm has a market cap of $5.12 billion, a price-to-earnings ratio of 19.01 and a beta of 0.80.
CNO Financial Group Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be issued a $0.18 dividend. The ex-dividend date is Thursday, September 10th. This represents a $0.72 annualized dividend and a dividend yield of 1.3%. CNO Financial Group’s dividend payout ratio (DPR) is currently 24.74%.
CNO Financial Group News Roundup
Here are the key news stories impacting CNO Financial Group this week:
- Positive Sentiment: CNO’s September 1 investor briefing highlighted growth strategies and operating momentum in its worksite and Medicare operations, potentially reinforcing the investment case and helping support the stock’s recent strength. CNO Financial Highlights Growth in Worksite and Medicare Operations
- Positive Sentiment: Management’s discussion of business strategies and growth drivers in the worksite and Medicare segments gives investors additional visibility into potential expansion areas and future earnings support. CNO Financial Group Discusses Worksite and Medicare Business Strategies and Growth Drivers Transcript
- Negative Sentiment: Insiders Karen J. Detoro and Jeanne L. Linnenbringer collectively sold approximately 39,213 shares worth about $2.15 million across August 31 through September 2. The sales reduce their individual holdings and could signal profit-taking or create a modest overhang, though both sets of transactions were executed under pre-arranged Rule 10b5-1 plans. Karen J. Detoro SEC Form 4 Jeanne L. Linnenbringer SEC Form 4
Analyst Ratings Changes
A number of research analysts have commented on the stock. Keefe, Bruyette & Woods increased their price target on shares of CNO Financial Group from $53.00 to $57.00 and gave the company a “market perform” rating in a research report on Monday, August 3rd. Capital One Financial set a $70.00 price objective on shares of CNO Financial Group in a report on Wednesday, August 26th. Weiss Ratings raised shares of CNO Financial Group from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday, August 11th. Wall Street Zen raised shares of CNO Financial Group from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Jefferies Financial Group cut shares of CNO Financial Group from a “buy” rating to a “hold” rating and lifted their target price for the stock from $53.00 to $55.00 in a research report on Friday, July 10th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $56.00.
Check Out Our Latest Report on CNO Financial Group
Insider Activity
In other CNO Financial Group news, CMO Rocco F. Tarasi III sold 5,750 shares of the 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 sale, the chief marketing officer 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 at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Karen J. Detoro sold 9,374 shares of the firm’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $54.98, for a total transaction of $515,382.52. Following the completion of the sale, the insider directly owned 44,250 shares in the company, valued at approximately $2,432,865. This trade represents a 17.48% 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. Insiders sold 134,319 shares of company stock valued at $7,033,335 in the last three months. Corporate insiders own 3.44% of the company’s stock.
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.
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